In the first three weeks of the Boxing Day and January Sale, like-for-like order intake was down 16 per cent. Like-for-like sales order intake for the 24 weeks of its present financial year were down 17 per cent – one percentage point lower than the 16 per cent decline reported in the first 17 weeks.
Total sales order intake fell 12 per cent, compared with the same period last year.
The retailer said it could see no relief from a poor credit market, and pressures on consumers’ disposable incomes, and warned it was unlikely that like-for-like sales would improve for the rest of its financial year. Results are likely to be at the lower end of market expectations.
ScS has stalled its store expansion plans and will only open one store before the end of the financial year. It has also delayed the majority of its refurbishment programme.