29 May 2024, 22:51
By Furniture News Oct 06, 2020

Post-lockdown trading strong at ScS

ScS has confirmed its unaudited preliminary results for the year ended 25th July 2020.

Order intake was down just -5.9% during the year, despite the two-month national lockdown forcing all 100 stores to close. Despite the closures, investment in ScS' ecommerce offering helped drive an online sales increase of +13.6% to £19.1m.

However, the results were still significantly impacted by the Covid-19 lockdown months. Gross sales fell -19.5% to £268.1m, while gross profit decreased -20.2% to £119.6m.

More recently, order intake was up +45.8% on a LFL basis for the first nine weeks of the new financial year to 26th September, with trading continuing to exceed expectations.

ScS CEO David Knight comments:  “We are delighted with the strong trading since the start of the new financial year. However, we are now entering our key autumn trading period and it remains difficult to predict the potential impact of the increased economic uncertainty, including the cessation of the government's Coronavirus Job Retention Scheme at the end of October.

"Despite the uncertainty, our value-led proposition is underpinned by a strong balance sheet, and our clear offering has continued to prove successful. We are confident it will continue to appeal to our customers who want to buy great products at the lowest possible price.”

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