Slowdown in big-ticket consumer spending not affecting furniture retailer
SCS Upholstery's final results ending September 30 seem to be bucking the trend, overcoming customers concerns about committing to finance on big-ticket items. The fabric and leather upholstered furniture retailer reported an increase of like-for-like sales order intake of 7 per cent for the past financial year. The first eight weeks of this financial year have also seen like for like sales order intake increase, by 9 per cent.
Turnover for the past financial year was£139.5 million, up from£116.6 million in 2003. Profit before tax was£14 million, up from£8.6 million in the previous year.
During the year, the retailer opened 7 stores bringing the retailer's estate to 63.
ScS chairman Mike Brown said: 'The benefit of our highly focused store opening programme has given rise to improved efficiencies in distribution and utilisation of advertising spend through more effective use of national media. The Board remains confident of reporting another record year.'
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