Sosandar boosted by record Christmas trading
Women’s fashion retailer Sosandar enjoyed a record quarter in the lead-up to Christmas with revenue increasing by 30% to £11.6 million.
The three-month period to 31 December also marked a fifth consecutive quarter of profitability for the business.
Sosandar said its average order value of £106.37 was up 11% from £95.69 in the prior year due to customers buying higher priced items and clothing in the categories such as outerwear, tailoring and occasion wear.
Across the period, every product category experienced growth, with knitwear, formal tailoring, coats and partywear putting in particularly strong performances,
Ali Hall and Julie Lavington, co-chief executives of Sosandar, said: “We are pleased to be reporting another record trading performance for Sosandar and a fifth consecutive quarter of profitability for the Group. The momentum built in H1 has continued and we are thrilled to report both strong revenue growth and improved margins compared with the first half of the financial year. As a result of our strategic initiatives, we had a record number of visits in to Sosandar.com in the quarter and we have seen our customers investing in higher value items throughout the winter season.”
The company said it is continuing to trade in line with market expectations for the current financial year which ends on 31 March.
Hall and Lavington added: “Whilst the macro-economic environment remains challenging, and we remain highly vigilant, we continue to demonstrate that our differentiated model is capable of achieving sustained profitable growth. As a management team, we have complete confidence in our brand, unique product, amazing colleagues and our ability to continue executing on our strategy.”
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