ScS outlook "substantially better" than forecast as online orders rise by 95%
A UK home furnishings chain has announced that it has seen a 95 per cent increase in online orders over the past year.
ScS, which has more than 100 stores across the UK, has reported that its online order intake has increased by 95.3 per cent over the first 46 weeks of the financial year - and 165 per cent on a two year basis.
The increase in online sales comes as a result of the impact of the pandemic.
The company also reported that it anticipates that its full year performance, for the year to the end of July, will be ahead of market expectations.
As a result of its trading performance, ScS also confirmed that it has repaid the £3m funding granted to it through the Coronavirus Job Retention Scheme, and that it will be reinstating its dividends.
The company said: “The board is encouraged by the group’s strong trading performance since reopening.
“Whilst some uncertainty persists relating to the end to all Covid restrictions, the board believes the group is well positioned to maximise opportunities for growth.
“The group has a robust balance sheet and the re-introduction of dividends today reflects the Board’s confidence in the business going forward.
“As such, and given the strength of the current order book, the board’s outlook for FY22 is substantially better than current market forecasts.
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