ScS profits slide as store closures impact sales

SCS

ScS recorded a downturn in profits and sales in its full-year results due to the impacts of the coronavirus pandemic, but has since seen a strong recovery as it benefits from pent-up consumer demand.

The furniture retailer saw a 20% slide in profits to £120m in the full year to July 25, after it was forced to close its bricks-and-mortar stores and cease delivery of orders when the UK went into lockdown.

ScS also reported a 20% decrease in sales to £268m as online orders failed to make up for the lost store sales over the period.

Order intake, however, was only down 5.9% compared with the previous year, as the retailer saw an increase in orders and conversion rates when operations started up again in May.

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