Sosandar narrows losses following ‘exceptionally strong’ financial performance
Women’s fashion retailer Sosandar has said it put in an exceptionally strong performance in the year to 31 March.
The retailer posted revenue growth of 142% to £29.5 million in the period which included three consecutive months of record revenue in September, October and November 2021.
In addition, EBITDA improved to a £0.2 million loss from a loss of £2.9 million in the prior year, with every month in the retailer’s second half being profitable.
Sosandar attributed its success to its four pillar strategy which includes expanding its product range, the refinement of its data-driven marketing strategy, driving sales through multiple channels, and maintaining an agile and resilient supply chain.
Ali Hall and Julie Lavington, co-chief executives of Sosandar, said: “We are incredibly proud to be reporting another period of sustained growth for Sosandar. It is thanks to our well-planned approach, together with our entrepreneurial, agile culture that we have delivered a significant increase in revenue, as well as moving into month-on-month profitability. This is an important milestone for us, and having achieved it we are now better positioned than ever for further success.”
Giving an update on more current trading, Sosandar it has made a very strong start to its new financial year with year-on-year revenue growth of 81% to £10.4 million in its first quarter.
Hall and Lavington added: “As we have done over the past two years, we will continue to use our agility and detailed planning to manage the business effectively, as we move forward on our journey to becoming one of the largest womenswear brands globally.”
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