Coronavirus: ScS “remains confident” despite revenue drop

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ScS David Knight trading update covid-19 lockdown pandemic
Earlier this month, ScS created 300 new jobs around the UK
// ScS posts revenue of £255.5m for the year to July 25, 2020, down from £317.4m in 2019
// It made a statutory pre-tax loss of £3.1m, down from the profit of £14.3m in the prior period

ScS has seen revenues drop after temporarily closing its stores and distribution centres due to the Covid-19 lockdown.

The furniture chain reported a revenue of £255.5 million for the year to July 25, 2020, down from £317.4 million in 2019.

The company also made a statutory pre-tax loss of £3.1 million, down from the profit of £14.3 million in the prior period.


READ MORE: ScS creates 300 new jobs to cope with 92% surge in orders


“We are now entering our key autumn trading period and it remains difficult to predict the potential impact of the increased economic uncertainty, including the cessation of the government’s Coronavirus Job Retention Scheme at the end of October,” ScS chief executive David Knight said.

“Despite the uncertainty, our value led proposition is underpinned by a strong balance sheet, and our clear offering has continued to prove successful.

“We are confident it will continue to appeal to our customers who want to buy great products at the lowest possible price.”

Earlier this month, ScS created 300 new jobs around the UK to cope with a huge increase in orders since the easing of lockdown.

The retailer hired 150 new employees in August and currently has 150 live vacancies for roles in various areas of the business.

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