Booming Cheshire 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.
The record takings come following a 2023 during which the formerly online-only brand entered a successful bricks-and-mortar sales partnership with Sainsbury’s, posted its first full-year profit and announced plans for international expansion and its own physical stores, with its first UK store expected to open in spring.
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.
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.
The company added: “This is moving the business towards reaching its strategic goal of delivering £100m+ revenues and a pre-tax profit margin of at least 10% in the medium term. The board confirms that the company continues to trade in line with market expectations for the current financial year and further expects the current momentum to be sustained over the final quarter.”
