ScS, one of the UK’s largest retailers of upholstered furniture and floorings, has reported 21.6 per cent revenue growth to £324.5 million in the FY21 ended on July 31, 2021, over the previous fiscal. Online sales for the year jumped 146.0 per cent to £46.9 million (FY20: £19.1 million), while operating profit expanded to £26.8 million (£0.7 million).
ScS, one of the UK's largest retailers of upholstered furniture and floorings, has reported 21.6 per cent revenue growth to £324.5 million in the FY21 ended on July 31, 2021, over the previous fiscal. Online sales for the year jumped 146.0 per cent to £46.9 million (FY20: £19.1 million), while operating profit expanded to £26.8 million (£0.7 million).#
“Trading since the start of the new financial year has remained strong, with two year like-for-like order intake growth of 11.9 per cent for the nine weeks to October 2, 2021. One year like-for-like orders have fallen 21.0 per cent as a result of the significant bounce following the lockdown in the prior year,” Steve Carson, chief executive officer of ScS, said in a press release.
ScS, one of the UK's largest retailers of upholstered furniture and floorings, has reported 21.6 per cent revenue growth to £324.5 million in the FY21 ended on July 31, 2021, over the previous fiscal. Online sales for the year jumped 146.0 per cent to £46.9 million (FY20: £19.1 million), while operating profit expanded to £26.8 million (£0.7 million).#
According to the company, launch of its new website at the start of the year enabled ScS to improve the offering to customers moving online following the store closures.
ScS, one of the UK's largest retailers of upholstered furniture and floorings, has reported 21.6 per cent revenue growth to £324.5 million in the FY21 ended on July 31, 2021, over the previous fiscal. Online sales for the year jumped 146.0 per cent to £46.9 million (FY20: £19.1 million), while operating profit expanded to £26.8 million (£0.7 million).#
“The period of online-only sales provided valuable insight that supported the business’ plans to push on with further web enhancements. The first of these was the launch of website exclusive products, which have proven very successful since their introduction. After welcoming customers back into our showrooms we have seen a reduction in online sales, which is to be expected as consumer shopping habits readjust,” the British floor specialist retailer said.
ScS, one of the UK's largest retailers of upholstered furniture and floorings, has reported 21.6 per cent revenue growth to £324.5 million in the FY21 ended on July 31, 2021, over the previous fiscal. Online sales for the year jumped 146.0 per cent to £46.9 million (FY20: £19.1 million), while operating profit expanded to £26.8 million (£0.7 million).#
Gross profit during FY21 increased to £147.0 million (£119.6 million). Profit before tax surged to £22.7 million compared to loss of £3.1 million in the previous fiscal ended on July 25, 2020.
ScS, one of the UK's largest retailers of upholstered furniture and floorings, has reported 21.6 per cent revenue growth to £324.5 million in the FY21 ended on July 31, 2021, over the previous fiscal. Online sales for the year jumped 146.0 per cent to £46.9 million (FY20: £19.1 million), while operating profit expanded to £26.8 million (£0.7 million).#
“We are delighted with the strong orders performance since the start of the new financial year. However, we are cognisant of the ongoing challenges we, and many other businesses, are facing with regards to the supply chain, including driver shortages, raw material increases and shipping costs and delays,” Carson continued.
ScS, one of the UK's largest retailers of upholstered furniture and floorings, has reported 21.6 per cent revenue growth to £324.5 million in the FY21 ended on July 31, 2021, over the previous fiscal. Online sales for the year jumped 146.0 per cent to £46.9 million (FY20: £19.1 million), while operating profit expanded to £26.8 million (£0.7 million).#
“We have demonstrated throughout the pandemic that we have a flexible and resilient business model which is able to adapt to changes in the macro-environment whilst still delivering for our customers. We look forward to embedding the new purpose and mission statement into our operations and delivering on our refreshed strategy for future growth which we are setting out today,” Carson concluded in the release.
Fibre2Fashion News Desk (JL)
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