ScS sales fall amid economic, political uncertainty
Upholstered furniture and floorings retailer ScS reported a drop in sales on Wednesday as political uncertainty dented consumer confidence.
In an update ahead of its annual meeting, the company said trading in the 17 weeks to 23 November was in line with its expectations as "ongoing economic and political uncertainties are continuing to impact consumer confidence and spending".
During the period, the like-for-like order intake fell 7.1% and the two year like-for-like order intake was down 4%. However, this was an improvement on LFL trading in the first nine weeks of the year. The company said in its preliminary results in October that LFL order intake declined 7.6% in the period from 28 July to 29 September.
"The group continues to focus on delivering a value proposition with excellent customer service whilst increasing our resilience," it said.
"This puts us in a strong position to take advantage of opportunities which will add value in the longer term once the economy and consumer confidence improve."
At 1120 GMT, the shares were down 2% at 217.65p.