Sosandar boosted by strong third quarter sales
Women’s fashion retailer Sosandar grew its revenue by 6% to £3.98 million in its third quarter, despite a 66% reduction in marketing spend.
In addition, its EBITDA loss was reduced by around 60% compared to the same period in the prior year.
Ali Hall and Julie Lavington, co-chief executives, said: “We are extremely pleased to report another period of record performance, particularly given the significantly reduced marketing spend and extremely strong comparatives achieved in the prior year. It is testament to the relevance and quality of our product that we have been able to deliver such a performance without the seasonal strong sales of party dresses, and shows our ability to understand and cater to our customers’ needs.”
Sosandar said its new ranges have resonated well with customers with loungewear, knitwear, denim and outerwear being particularly popular. The company said product ranges for spring have been planned with Covid-19 restrictions in mind so therefore focus more on casual wear.
Looking ahead, Hall and Lavington, said: “The agile nature of our business has enabled us to adapt quickly to the challenges and uncertainties within the retail sector. The resilience that the business has shown both operationally and financially demonstrates the strength of our business model and relevance of our products and customer engagement across a large end market.”
