Sofa retailer ScS shrugs off House of Fraser blow
Sofa chain ScS has brushed aside the gloom on the high street by chalking up a double-digit rise in profits, despite being affected by troubles at House of Fraser.
Pre-tax profits at the furniture-to-floorings retailer rose 11pc to £13.2m for the year to July 28, underpinned by record online sales and a strong start to the period.
The second half proved tougher for the business. Bitterly cold weather in February, a heatwave in June and July and the World Cup caused like-for-like orders to slide 2.6pc during the final six months.
Its concession stores in House of Fraser also struggled, dropping 9pc to £24.8m over the period. The furniture retailer has 27 sites at the department store chain, which was bought out of administration by Sports Direct owner Mike Ashley for £90m in August.
Sofa retailer ScS shrugs off House of Fraser blow
