Summary
Sofa chain ScS Upholstery is set to slump to an annual loss after it revealed worse-than-expected trading over the crucial bank holiday weekend. The retailer said its performance over the three days had been "particularly disappointing" as like-for-like sales orders plunged by a fifth from a year ago.
ScS's warning is fresh evidence that the slowdown in the UK property market is hurting retailers of "big ticket" items, as a steep drop-off in home sales hits demand for goods such as sofas, washing machines and carpets.See the full content of this document
Extract
Scs Set for Loss As Big Ticket Sales Hit ; Retail
The company, which made pretax profits of pounds 7.07 million in 2007, had been expected to break eve...
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