THE RETAIL BULLETIN - The home of retail news
Home Page
News Categories
Christmas Ads
Commentary
Department Stores
Electricals & Technology
Entertainment
Fashion
Food & Drink
General Merchandise
Grocery
Health & Beauty
Home & DIY
Interviews
Property
Retail News
Retail Solutions
Shopping Centres, High Streets & Retail Parks
Sports & Leisure
Retail Events
People in Retail Awards 2023
Retail Marketplace Strategy 2023
Omni Channel Futures 2023
Retail HR Central
Digital Transformation Strategy 2023
Customer Engagement Strategy 2023
Retail HR 2023
THE Retail Conference 2023
Upcoming Retail Events
Past Retail Events
Retail Insights
Retail Solutions
Advertise
About
Contact
Subscribe for free
Terms and Policies
Privacy Policy
Sosandar boosted by strong first half performance

Women’s fashion retailer Sosandar has posted a 72% increase in first half revenue to £20.9 million despite “challenging” trading conditions. It also achieved a pre-tax profit… View Article

FASHION

Sosandar boosted by strong first half performance

Women’s fashion retailer Sosandar has posted a 72% increase in first half revenue to £20.9 million despite “challenging” trading conditions.

It also achieved a pre-tax profit of £0.1 million in the six months to 30 September compared to a loss of £1.08 million in the same period a year ago.

Sosandar said its average order value rose by 4% to £90 in the half year while the number of active customers increased by 33% to 254,601.

The company has attributed much of its success to its ability to identify and fast-track the development of key product lines and the benefits of strong partnerships with other retailers which include M&S, Next, John Lewis and The Very Group.

Today Sosandar has announced the launch of a new partnership with N Brown Group’s JD Williams on a wholesale agreement basis.

Ali Hall and Julie Lavington, co-chief executives of Sosandar, said: “We are extremely pleased to have delivered a strong performance in the first half of the financial year. Our well-planned and agile approach, together with our distinctive product range and effective communication strategy, has enabled us to deliver a significant increase in revenue, as well as a full period of profitability.”

Sosandar said the positive trading has continued into the early weeks of its second half and that it now expects to deliver revenues of £42.8 million, EBITDA of £2.2 million and a pre-tax profit of £2 million in the year to 31 March 2023.

Looking ahead, Hall and Lavington said: “We have a clear strategy in place and a proven ability to execute our plan. This gives the board the confidence that the group will continue to make progress and deliver profitable growth in line with full year market expectations.” 

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News