ScS reports highest ever like-for-like order intake
Upholstered furniture retailer ScS has seen strong growth in the 53 weeks to 30 July as its sales order intake reached its highest ever level with a 14.8% uplift in like-for-like sales.
The company’s revenue grew by 14.7% to £317.3 million while gross profits rose by 17.3% to £149.1 million. EBITDA grew to £16 million from £11.3 million in the previous year after adjusting for exceptional items.
House of Fraser concession gross sales were up 19.7% to £25.3 million in the period.
David Knight, chief executiver of ScS, said: “We are delighted to be reporting significant growth across all areas of the group for the 2016 financial year. Our sales order intake is the highest ever and is up 14.8% on a like-for-like basis. These results demonstrate that the group has made significant progress in developing ScS into a strong national brand with three very clear retail offers – upholstered furniture, flooring and our House of Fraser concessions, all supported by an online platform that has seen continued investment.”
ScS sales density per square foot increased 12.9% to £219 supported by a significant increase in marketing spend.
In addition, two new stores opened in Bromborough on the Wirral on Boxing Day 2015 and in Aberdeen in September 2016. Three further stores in Plymouth, Thanet and Edinburgh set to open on Boxing Day 2016.
The company said current trading is in line with expectations with sales order intake up 4.5% on a like-for-like basis for the 9 weeks to 1 October.
Knight added: “Looking further ahead, we are excited about our prospects, including the continued growth from our existing ScS network, the concession agreement with House of Fraser, our flooring offering and our online proposition. We continue to identify new store opportunities within our target areas.”
