IN BRIEF: ScS Hires Holland & Barrett Exec As New CEO; Order Intake Up

ScS Group PLC - Sunderland, England-based retailer of upholstered furniture and floorings - Hires Steve Carson as chief executive officer, joining on January 6. Carson will replace David Knight, who will retire in July after a handover. Carson was managing director of health food shop chain Holland & Barrett. Prior to that, he was director of Retail & Customer Operations at Home Retail Group PLC, the Argos chain owner that was bought by J Sainsbury PLC in 2016. ScS also tells shareholders at its annual general meeting on Wednesday that order intake rose 15% from a year before on a like-for-like basis in the 17 weeks from the start of its financial year on July 26 to November 21. However, this was composed of a 32% improvement in the 14 weeks to the end of October, followed by a 65% drop in the first three weeks of November, when England went into lockdown. Says encouraged by trading pattern after end of first lockdown, as customers waited to try products in person before buying. Has GBP113 million cash balance and no debt.

Current stock price: 200.00 pence

Year-to-date change: down 19%

By Tom Waite; thomaslwaite@alliancenews.com

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