31 Jan 2019 07:00
For Immediate Release | 31 January 2019 |
ScS Group plc
("ScS", or the "Group")
Half Year Trading Update
Trading for the Group in line with the Board's expectations
ScS, one of the UK's largest retailers of upholstered furniture and floorings, today issues the following trading update ahead of announcing its interim results for the 26 weeks ended 26 January 2019 on 19 March 2019.
The core ScS business has continued to trade in line with our expectations, with like-for-like order intake growth of 1.5% for the 26 weeks ended 26 January 2019. Two-year like-for-like order intake has grown 4.5%. Trading over the key winter sales period, whilst impacted, as expected, by the loss of one trading day in the week of Boxing Day, was also in line with our expectations.
In line with the plan announced on 25 October 2018, the Group has now ceased trading from all 27 concessions within House of Fraser.
The Group has traded in line with the Board's expectations in the first half of the financial year. Whilst we are mindful of the risk from the impending Brexit outcome, we believe the Group's increasing resilience puts the business in a strong position to manage the continued economic uncertainty and take advantage of opportunities.
Enquiries:
ScS Group plc David Knight, Chief Executive Officer Chris Muir, Chief Financial Officer | c/o Buchanan +44 (0)20 7466 5000 |
Buchanan Richard Oldworth Madeleine Seacombe Tilly Abraham | Tel: +44 (0)20 7466 5000 scs@buchanan.uk.com |
Shore Capital Patrick Castle Dru Danford James Thomas | Tel: +44 (0)207 408 4050 |
Notes to Editors
ScS is one of the UK's largest retailers of upholstered furniture and floorings, promoting itself as the "Sofa Carpet Specialist", seeking to offer value and choice through a wide range of upholstered furniture and flooring products. The Group's product range is designed to appeal to a broad customer base with a mid-market priced offering and is currently traded from 100 stores.
The Group's upholstered furniture business specialises primarily in fabric and leather sofas and chairs. ScS sells a range of branded products which are not sold under registered trademarks and a range of branded products which are sold under registered trademarks owned by ScS (such as Endurance and SiSi Italia). The Group also offers a range of third party brands (which include La-Z-Boy and G Plan). The Group's flooring business includes carpets, as well as laminate and vinyl flooring.