ScS blames international supply chain issues as it slips to loss
ScS has slipped into the red, blaming international supply chain issues for its subdued revenues and profits.
For the 26 weeks to January 29, ScS reported a loss before tax of £3.6m and an operating loss of £1.8m. The retailer also reported a 4% drop in revenues to £146m and a 5.3% slip in gross sales to £152m.
EBITDA was £12m, down £21m year on year, while its gross margin slipped 1.3% to 45%.
Despite the subdued half-year results, ScS said it was confident of delivering profitable full-year results in line with market expectations.
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