Sosandar is continuing its store expansion plans despite a dip in revenue over Christmas.
The womenswear retailer recorded a 14.6% fall in revenue to £12.2m in revenue for the three months ending December 31, down from £14.3m last year.
The decline was anticipated as part of the Sosandar’s strategy to reduce promotional activity and focus on improving its gross margin, which rose from 58.3% to 64.7%.
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Despite the dip in quarterly revenue, the brand’s overall Q3 performance was strong compared to the first and second quarters of the current financial year, with a 50% rise revenue.
This was also a significant improvement from last year, when Q3 revenue rose 25% and 31% higher than Q1 and Q2.
Sales through third-party partnerships, including Next and M&S, remained strong as the retailer confirmed it is on track to meet its full-year guidance of £40.5m in revenue and £1m pre-tax profit.
Sosandar is also continuing its expansion into physical retail, securing two new store locations in Bath’s SouthGate shopping centre and Harrogate’s James Street.
These new sites will add to the four stores opened in the autumn of 2024, all of which have performed well according to the business.
Sosandar added: “Overall trading remains in line with market expectations for the current financial year, with January starting well and pleasing levels of full price sales, despite the well-publicised challenging macro-environment.”
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