ScS to exit House of Fraser by end of January

Senior executives at ScS have resigned "en masse" as the transformation under new Italian owner Poltronesofà accelerates.
Department StoresHome & DIY

ScS has revealed it would stop trading in all 27 of its concessions within House of Fraser by the end of January.

According to Reuters, the decision comes after the furniture retailer’s House of Fraser concessions accounted for a 52.5 per cent decline in like-for-like orders in the 12 weeks to October 20.

ScS added that its concessions business made up 2.7 per cent of its order intake for that period.

Earlier this month, the Sunderland-based business reported gross sales had improved £2.8 million to £352.3 million in the 52 weeks to July 28, with revenue up £4.3 million to £337.3 million.

Reporting back on the full year results at the time, ScS chief executive David Knight said the “downturn in sales” at the retailer’s House of Fraser concessions had been “more than offset by growth” in the core ScS business.

Click here to sign up to Retail Gazette‘s free daily email newsletter

Department StoresHome & DIY

Leave a Reply

Your email address will not be published. Required fields are marked *

Fill out this field
Fill out this field
Please enter a valid email address.

ScS to exit House of Fraser by end of January

Senior executives at ScS have resigned "en masse" as the transformation under new Italian owner Poltronesofà accelerates.

Social


SUBSCRIBE TO OUR DAILY NEWSLETTER

  • This field is for validation purposes and should be left unchanged.

ScS has revealed it would stop trading in all 27 of its concessions within House of Fraser by the end of January.

According to Reuters, the decision comes after the furniture retailer’s House of Fraser concessions accounted for a 52.5 per cent decline in like-for-like orders in the 12 weeks to October 20.

ScS added that its concessions business made up 2.7 per cent of its order intake for that period.

Earlier this month, the Sunderland-based business reported gross sales had improved £2.8 million to £352.3 million in the 52 weeks to July 28, with revenue up £4.3 million to £337.3 million.

Reporting back on the full year results at the time, ScS chief executive David Knight said the “downturn in sales” at the retailer’s House of Fraser concessions had been “more than offset by growth” in the core ScS business.

Click here to sign up to Retail Gazette‘s free daily email newsletter

Department StoresHome & DIY

Leave a Reply

Your email address will not be published. Required fields are marked *

Fill out this field
Fill out this field
Please enter a valid email address.

RELATED STORIES

Latest Feature


Menu


Close popup

Please enter the verification code sent to your email: