At its AGM today, ScS will report that its core business continues to perform well, with LFL order intake growth of +3.5% for the 16 weeks ended 17th November 2018.
As previously announced, the group will cease trading from its 27 concessions in House of Fraser by the end of January 2019 – during the quarter, these concessions accounted for just 2.9% of the group’s order intake, and have seen a decline in LFL orders of -53.4%.
"Strong core ScS performance has offset declining orders in the House of Fraser concessions, resulting in the group, as a whole, trading in line with the prior year," reports chairman Alan Smith. "Two-year LFL order intake has grown +2.6%.
"Whilst it is still early in the current financial year, the group continues to trade in line with the board’s expectations. We believe the group’s increasing resilience and value proposition will enable us to manage the continued economic uncertainty and take advantage of opportunities.”