ScS releases solid half-year trading growth

Upholstered furniture and floorings retailer ScS issued a trading update on Wednesday, ahead of announcing its interim results for the half year to 27 January, which was scheduled to be on 21 March.

The group said it achieved like-for-like order intake growth of 2.2% and two-year like-for-like order intake growth of 5.3% for the 26 weeks period.

It said the core ScS business had continued to perform well, with like-for-like order intake up 2.5%, and two-year like-for-like orders up 4.7%.

Its House of Fraser concessions, which represented 7.4% of group order intake in the period, saw like-for-like orders decline 0.4%, with two-year like-for-like orders up 13.2%.

“Following the opening of our new store in Chelmsford on Boxing Day, the group now trades from 101 ScS stores and operates 27 House of Fraser concessions,” the ScS board said in its statement.

“The board is also pleased to announce an extension of the group's committed £12m revolving credit facility to November 2021.”

ScS said it traded in line with the board's expectations in the first half of the financial year, including the key winter sales period.

“We believe the group's increasing resilience and value proposition will enable us to manage the continued economic uncertainty and take advantage of opportunities.”