Sosandar remains 'highly vigilant' despite sales jumping 30%

Sosandar remains ‘highly vigilant’ despite sales jumping 30%

10th January 2023

Sahar Nazir

Fashion

// Sosandar revenue jumps 30% to £11.6 million in the three months to 31 December

// The retailer said its average order value of £106.37 was up 11% from £95.69 in the prior year

Sosandar has recorded a revenue increase of 30% to £11.6 million in the lead-up to Christmas.

The three-month period to 31 December also marked a fifth consecutive quarter of profitability for the business.

The retailer said its average order value of £106.37 was up 11% from £95.69 in the prior year thanks to shoppers purchasing higher priced items and clothing.

Sosandar found that every product category experienced growth during the period.

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Sosandar co-chief executives, Ali Hall and Julie Lavington 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.

“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.”

Sosandar said it is trading in line with market expectations for the current financial year which ends on 31 March.

Fashion

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Fashion

10th January 2023

Sahar Nazir

// Sosandar revenue jumps 30% to £11.6 million in the three months to 31 December

// The retailer said its average order value of £106.37 was up 11% from £95.69 in the prior year

Sosandar has recorded a revenue increase of 30% to £11.6 million in the lead-up to Christmas.

The three-month period to 31 December also marked a fifth consecutive quarter of profitability for the business.

The retailer said its average order value of £106.37 was up 11% from £95.69 in the prior year thanks to shoppers purchasing higher priced items and clothing.

Sosandar found that every product category experienced growth during the period.

Subscribe to Retail Gazette for free

“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.

Sosandar said it is trading in line with market expectations for the current financial year which ends on 31 March.

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