Supply chain issues hold back ScS
March 23, 2022
Supply chain issues at major furniture and flooring chain ScS held back performance with the group recording a loss for the second half of last year, but the order book is booming.
The 99-store chain recorded a net loss of £2.88m for the 26 weeks to January 29, 2022 as delivered sales declined by 16.1% to £145.9m.
Steve Carson, Chief Executive Officer of ScS, commented: "Like many retailers, supply chain disruption has impacted the Group's first half results. Whilst this has been frustrating, it has enabled the business to accumulate a strong order book and we are focused on delivering it through the second half of the year."
That demand is demonstrated by a like-for-like order intake up 16.6% in the first half and growing to 37.7% up in the 33 weeks to March 19, 2021, though this compares to a period when stores were partly closed.
Mr Carson said he was pleased with the current trading performance and expects that the strong order book will support a profitable second half of the year, but he added; "We are mindful of the ongoing impact of inflationary pressure on the Group, its customers and suppliers."
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