ScS CEO David Knight to depart; orders fall

Furniture retailer ScS said on Wednesday that chief executive David Knight was leaving after 32 years at the company, as it reported a drop in orders.

Knight, who has decided to retire from full-time executive responsibilities, has given 12 months' notice but is prepared to be flexible to ensure a smooth handover, the group said.

The announcement came alongside an update on trading, which ScS said had been in line with its expectations in the first half.

The group said trading in the last nine weeks, which covers the festive period, had seen like-for-like order intake grow 1.2% compared to the same period a year ago. This is an improvement on trading for the first 17 weeks of the year, when LFL order intake fell 7.1%.

LFL order intake for the 26 weeks to 25 January declined 4.4%, it said.

"The group continues to focus on building a flexible and resilient business, whilst delivering a value proposition with excellent customer service," ScS said. "Whilst we are mindful of the continued economic uncertainty and subdued consumer confidence, we believe that this focus puts us in a strong position to take advantage of opportunities which will add value in the longer term."

At 1350 GMT, the shares were up 2.1% at 242p.