Accelerating sales growth at ScS
August 3, 2023
ScS, one the UK's leading retailers of flooring, has announced accelerating growth in sales during the first half of 2023 and is confident about the outlook.
In a full year trading statement to investors, ScS said that order intake was up 6% in the 20 weeks prior to 19 July 2023, building on previously announced growth of 5.7% for the six weeks before that.
The company says that after challenging conditions in the second half of 2022, the improvement in sales that followed meant that its overall performance would be similar to the previous fnancial year and that full year profits were in line with market expectations,
"Continuing the trend of the past two years, the ScS business continues to gain market share, cementing its position as the UK's second largest upholstered furniture retailer," the ScS statement says.
"We are cognisant of the economic conditions facing our customers including higher interest rates and low consumer
confidence. However, we remain confident that the Group's strategy and strong balance sheet will enable ongoing trading resilience and we continue to expect to grow our market share while selectively investing in store and other strategic growth opportunities," it added.
The Group will publish its preliminary results for the 52 weeks ended 29 July 2023 on 10 October 2023.
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