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ScS, Britain's number two sofa chain, said softer trading conditions in the second half of its 2017–18 financial year wiped out almost all of the gains it had made in the first.

 

Second half like-for-like order intake fell 2.6 percent, the retailer said in a trading update this morning, with core ScS orders down 2.5 percent and its House of Fraser concessions falling 4.3 percent.


The financial year of ScS, which besides upholstery has also diversified into floorcoverings in recent years, runs to July 28.


Full year like-for-like order intake remained ahead by 0.2 percent after it wrote more business in the first half of the year, with core ScS orders up 0.4 percent and House of Fraser concessions down 1.9 percent.


The department store concessions — some of which are threatened by House of Fraser's CVA plan — contributed 7.2 percent of group order intake in the year.


CEO David Knight said he was pleased the group had traded in line with its expectations for the year, describing it as "an encouraging result given the challenging retail environment."


He added: "We believe this demonstrates the increasingly resilient nature of our business and the success of our value proposition."



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