Online retailer Sosandar is to invest in and expand product range
(Picture: Sosandar)Women’s fashion brand Sosandar has recorded a boost in revenues but only slight profits and decreased margins as retail faces the post-Covid trading era and the business wrests with “volatile macroeconomic conditions”.
For the six-month period ended 30 September 2022 the women’s fashion retailer recorded revenues of £20.9 million, a 72% boost from £12.2 million the first half of last year.
Pre-tax profit was also slight at £0.1 million but replaced a £1.08 million loss in the first half last year.
Sosandar said that the results were a “testament to the company’s strategy, unique product offering and increasing brand awareness across its target market” and that strong trading in October to date was “tracking in line” with expectations.
The number of orders through the company’s online offering rose by 43% to 347,137, of which 80,935 were new orders and 266,202 were repeat orders, with website visits increasing 25% during the period to more than 7.7 million.
Ali Hall and Julie Lavington, co-CEOs, said: “Our well-planned and agile approach, together with our distinctive product range and effective communication strategy, has enabled us to deliver a significant increase in revenue, as well as a full period of profitability.
“The challenging and volatile macroeconomic conditions currently make the short-term future difficult to predict with any certainty and their true impact on the consumer is not yet known, however, we remain confident in our long-term strategy.
“We continue to invest and expand our product range, offering our customers an even greater selection of on-trend, affordable, long lasting, lifestyle appropriate clothes.”
The retailer said it would “continue to make progress and deliver profitable growth in line with full year market expectations”.
