Sofa chain SCS less than comfy as sales slump
SHARES in SCS plunged 31.3 per cent last night after the sofa chain blamed the warmer weather and uncertainty over the General Election for a sharp slide in sales in April.
The retailer, which floated earlier this year, said its like-for-like order intake dropped by 15.9 per cent in the four weeks to 2 May as shoppers avoided buying big-ticket items over Easter and the May bank holiday.
It said it expects trading to revert to more normal levels and to report full-year earnings of £11m-£12m.