ScS Group PLC (LON:SCS), the sofas and carpets seller, has traded in line with expectations in the second half of the year despite continued fragile consumer confidence.
Ahead of its annual general meeting today, the company released a statement in which the chairman, Alan Smith, said that it is clear that economic and political uncertainties continue to have an impact on consumer confidence and spending.
In the 17 weeks ended 23 November 2019, the like-for-like (LFL) order intake decreased 7.1% from a year earlier and by 4.0% from two years earlier. On the bright side, the 7.1% decline in LFL orders represented an improvement over the 7.6% fall in the nine weeks to 29 September that was reported by the retailer at the beginning of October.
Shares in ScS were marginally lower (0.2%) at 221.55p in early deals.