3rd Feb 2023 11:01
(Alliance News) - ScS Group PLC on Thursday celebrated improved sales momentum over the last ten weeks, despite seeing like-for-like order intake fall over the half.
ScS is a Sunderland, England-based upholstered furniture and flooring retailer.
For the 26 weeks to January 28, the company reported a 4.7% annual decline in like-for-like order intake, driven predominantly by its performance in the first 16 weeks, when intake dropped 9.1%. In the last 10 weeks, a strong winter sale contributed to growth of 2.6%, as order intake momentum "improved significantly".
Over the period, the group opened two new stores in Swindon and York, bringing its total UK store count to 100.
ScS said that despite the challenging economic climate, it remained "encouraged" by recent order levels. It expects to meet full year market expectations, aided by a "refreshed strategy, strong cost management, and robust balance sheet".
The company had closing cash as at January 28 of GBP76.9 million, and no debt.
ScS shares were trading 0.3% higher at 220.68 pence each in London on Friday morning.
By Holly Beveridge; Alliance News reporter
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