ScS sales improve in fourth quarter
Sofa and floorings retailer ScS has reported that sales recovered in the final quarter of its financial year and that its full year results will be in line with current market expectations.
The improvement in trading meant that total like-for-like order intake for the 26 weeks to 25 July 2015 was up 1.4% on last year. In addition, total like-for-like sales for the full year to 25 July rose by 5% year-on-year.
In trading update, ScS also revealed that its chief financial officer, Ron Turnbull, has decided to step down although he will remain in his role for as much of the current financial year as necessary to ensure a smooth handover once his successor is appointed.
ScS chairman Alan Smith said: “I’m pleased to report that sales have recovered in the final quarter of the financial year and the company has entered the New Year well positioned for future growth.
“I would like to thank Ron for his significant contribution to ScS over the last 11 years; in particular for the key role he played in achieving a successful IPO for the group in January of this year. I and the board wish him every success for the future.”
