Sosandar hails record quarter of trading
Women’s fashion retailer Sosandar has celebrated a record quarter of trading in the three months to 31 December when revenue surged by 23% to £14.3 million.
Gross margin also improved with an uplift to 58.3% from 56.8% in the prior year following a planned reduction in price promotional activity.
Sosandar said its stronger trading in October and November continued into December when all channels performed well. Sales in the party wear, dresses, tailoring, knitwear and smart trouser categories were particularly strong.
The retailer is expecting to have opened its first store in the UK this spring. It is also planning to further enhance its relationships with third-party partners and will continue to develop its international strategy after successful launches in Australia and Canada.
Sosandar said it is continuing to trade in line with market expectations for the current financial year. Full year revenue is expected to come in at £46.8 million while pre-tax profit is forecast to be £0.1 million.