Furniture Retailer ScS Pulls Out of Struggling Department Store Chain

  • ScS to cease trading in House of Fraser stores
  • 52.5% decline in like-for-like orders for House of Fraser concessions
  • Only 2.7% of group’s order intake came from House of Fraser concessions
  • 27 concessions to close by end of January 2019
  • Employees to be re-deployed within ScS business
  • Core business saw 4.5% like-for-like order intake growth in the period
  • Two-year like-for-like order intake grew by 7.4%

Furniture retail chain, ScS, has announced it will cease trading within House of Fraser stores due to the partnership becoming ‘no longer beneficial’ as of the 12 weeks ending October 2018. The House of Fraser concessions experienced a 52.5% decline in like-for-like orders during this period, accounting for only 2.7% of the group’s order intake. ScS plans to close its 27 concessions by January 2019 and re-deploy affected employees within their core business. Despite this, the company reported a 1.2% overall like-for-like order intake growth and a 4.5% increase in the core business during the same period.

Factuality Level: 8
Factuality Justification: The article provides accurate information about ScS’s decision to cease trading within House of Fraser stores, the decline in orders for their concessions, and the company’s overall growth in order intake. It also includes a statement from the CEO, David Knight, which adds credibility to the report.
Noise Level: 3
Noise Justification: The article provides relevant information about a specific company’s decision to cease trading within House of Fraser stores and its impact on their business performance. It also includes quotes from the CEO, which adds credibility to the report. However, it lacks in-depth analysis or exploration of broader trends or consequences for the industry.
Financial Relevance: Yes
Financial Markets Impacted: ScS and House of Fraser
Financial Rating Justification: The article discusses the decision of ScS to cease trading within House of Fraser stores, which impacts both companies’ financial performance and operations.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: Minor
Extreme Rating Justification: There is no extreme event mentioned in the article.

Reported publicly: www.retailsector.co.uk