ScS the sofa chain has seen order slump as consumer demand remains under pressure due to Brexit and the uncertainty surrounding the general election.
In the 17 weeks to 23 November the sofa retailer reported a 7.1% drop in comparable sales. The group posted a 5% hike in annual pre-tax profits to £14.3m. In the year to 27 July like-for-like sales were up by 4.2%.
Alan Smith, chairman of ScS said, “It is clear that the ongoing economic and political uncertainties are continuing to impact consumer confidence and spending.”
Retail expert Nick Bubb, an independent analyst, said ScS’s recent sales performance “implies that the last eight weeks have still been pretty bad for ScS, despite more helpful weather.”