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ScS latest to report "pent-up" demand
Website Editor • July 30, 2020
Major flooring seller ScS is the latest to report a post-lockdown boost as a 92% increase in orders "reflects pent-up demand" and takes them back to 2019 levels of sales.
"Encouragingly, post-lockdown trading has been very strong both in-store and online," says the company in its trading update to shareholders today.
"This reflects pent up demand, which has been supported by our well executed re-opening plans, our continued focus on value and customer service, and our increased investment in targeted marketing over the last two months," it said.
ScS reported that since May 24, orders had increased by 92.2% compared with the previous year. However, store sales plummeted by 92.5% during the lockdown period as stores temporarily closed.
In the year ended July 25, ScS had sales of £268 million, compared with £333 million in the previous year, showing the overall impact of the lockdown.
"Whilst it is too early to provide clarity on the outlook for the weeks and months ahead, the Group is encouraged with its trading performance since re-opening on 23 May 2020," it said. "ScS is a resilient business, with a strong balance sheet, coupled with a flexible cost base, and is well positioned to navigate these difficult circumstances."
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