// ScS records like-for-like order intake growth of 51% for the 6 weeks to September 5
// The furniture retailer said pent-up demand in homewares drove additional sales of £19m
ScS has reported that “pent-up demand” from customers spending on their homes during the Covid-19 lockdown led to additional sales of £19 million.
Shares at the furniture firm, which employs 1700 people and has 100 stores across the UK, rose in early trading after announcing strong trading.
Post-lockdown trading has “remained strong”, with a like-for-like order intake growth of 51 per cent for the six weeks to September 5, 2020.
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- ScS “encouraged” by reopenings as orders skyrocket 92.2%
- Store reopenings place ScS in strong position to survive Covid-19
Group order intake rebounded to 92.2 per cent of last year’s levels in the period from May 24 to July 25.
ScS temporarily closed its store and distribution network from March 23 to May 23 due to the government-mandated lockdown.
“We believe current performance continues to benefit from pent-up demand and an increased investment by UK consumers in their homes,” ScS said.
“This growth, which is equivalent to £19 million of additional revenue, has significantly exceeded our expectations and the board continues to be encouraged by recent trading.
“The group is well positioned, with our value led proposition being underpinned by a strong balance sheet.”
Last month, ScS said it was “encouraged” by store reopenings as orders skyrocketed 92.2 per cent.
However, store sales plummeted by 92.5 per cent during the lockdown period.
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