Sosandar full year performance to beat market expectations
Women’s fashion retailer Sosandar has said it delivered a second consecutive EBITDA positive period following strong trading across all channels in its fourth quarter.
As a result of the performance, it now anticipates that revenue and EBITDA for the year to 31 March 2022 will both come in ahead of its recently upgraded market expectations.
Sosandar is expecting revenue to rise by 138% year-on-year to in excess of £29 million while its EBITDA loss is expected to be reduced by over 80% from a loss of £2.92 million in the previous year.
During the 12 month period, Sosandar saw its orders grow by 84% to 508,473 with repeat orders rising by 93% to 366,848. The company also benefited from uplifts in average order frequency and order size.
Ali Hall and Julie Lavington, co-chief executives of Sosandar, said: “This has truly been a milestone year for Sosandar, and we are delighted with what the team has achieved over the past 12 months. We successfully executed our strategy across own site and third parties, building momentum in H2 and ultimately delivering our first six months of profitability which is a pivotal moment for us all. This outstanding performance means we now anticipate FY22 results to be ahead of current market expectations.”
Following success with third party retailers M&S, Next and John Lewis, Sosandar has also announced that it has signed a wholesale agreement with The Very Group to enable its clothing to be sold through the Very.co.uk website.
Hall and Lavington added: “We are incredibly proud Sosandar is capturing the hearts of fashion-forward women and are delighted to add The Very Group to our family of partners.
“Despite the continuing uncertainty in the wider environment, our confidence in the outlook for Sosandar is undiminished and, reflecting our trading momentum, we plan to further accelerate our growth in the new financial year and beyond.”
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