ScS has reported overall growth of +1.3% for the 52 weeks ended 28th July 2018, a performance "in line with its expectations".
In its interim update on 21st March, the retailer reported LFL order intake growth for H1 of +2.2%, and highlighted the impact of the adverse weather conditions in the week commencing 25th February. It says that the continued softer trading environment, coupled with extremely warm weather in June and July, resulted in LFL order intake in H2 declining by -2.6%. For the full year, the group therefore achieved an overall LFL order intake increase of +0.2%.
Its House of Fraser concessions – the future of which remains uncertain, given that the parent company is currently seeking funding in line with proposed CVAs – contributed +7.2% of group order intake over the year. LFL orders grew by +1.9%.
ScS CEO David Knight comments: "I am pleased to announce that the group has traded in line with the board's expectations for the year, an encouraging result given the challenging retail environment. We believe this demonstrates the increasingly resilient nature of our business and the success of our value proposition. We remain focused on continuing to deliver our growth strategy and providing excellent choice, value and quality for our customers."