"Encouraging" rise in orders at ScS
November 25, 2022
Major furniture and flooring chain ScS says order intake has risen over the last month and it is "trading resiliently through what continues to be a challenging period."
The 98-store chain says sales in the last few weeks since October 7 is 1.3% up on the same period last year.
Reporting to shareholders before today's AGM, the plc says total like-for-like order intake for the 16 weeks to 19 November 2022 is down 9.1% due to the reduction in orders in the first ten weeks to 6 October 2022, when the comparative period benefited from strong pent-up demand following the last national lockdown.
But in a statement from ScS chairman Alan Smith, the company added:
"Like-for-like order intake has seen an improvement in recent weeks, with trading ahead of the prior year. The Board is encouraged by the Group's recent performance and current trading is in line with its expectations for the full year.
"The Group is preparing for the important winter sales trading period and, as always, its success will be a key factor in the results for the full year. We are mindful of the challenges of the current economic climate. Trading remains difficult to predict, but we believe our refreshed strategy, strong cost management and robust balance sheet places the Group in an excellent financial and operational position," it said.
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