ScS blame warm weather and election uncertainty for poor Easter trading

The sofa and flooring retailer said order intake was 15.9% below last year in the four weeks up to May 2

David Knight, CEO of ScS, at the London Stock Exchange to open trading on Friday, January 30, with members of staff
David Knight, CEO of ScS, at the London Stock Exchange to open trading on Friday, January 30, with members of staff

Easter trading at Wearside furniture and flooring retailer ScS was impacted by warm weather.

The newly re-listed firm said order intake in the four weeks to May 2 was 15.9% below last year, although order intake for the ten week period to April 4 was in line with expectations.

Warm weather across what is traditionally ScS’ peak sales period had hampered footfall, as had uncertainty over the General Election — which was said to deter customers from big ticket purchases.

A note to shareholders said: “The Board expects trading to revert to more normal levels and to report EBITDA of between £11m to £12m for the full year to 25 July, 2015, including the expected loss from the House of Fraser concession agreement.

“The Board remains confident of the future growth prospects for ScS and, supported by strong cash flow dynamics and a robust financial position, is committed to paying the planned £5.6m dividend to shareholders for the year ending July 25, 2015.”

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