Sosandar delivers 'another strong performance' in Q4
By Iain Gilbert
Date: Tuesday 13 Apr 2021
(Sharecast News) - Women's fashion retailer Sosandar said on Tuesday that it had delivered "another strong performance" in its fourth quarter, with revenues up sharply on the prior year.
Sosandar posted revenues of £3.94m for the fourth quarter, up 63% year-on-year, while customer activity stepped up each month during the quarter with record revenues delivered in the month of March - up 66% compared to January and 163% up on the lockdown impacted previous year.
The AIM-listed group said its performance reflected an increasing level of consumer optimism as lockdown restrictions start to lift, leading to a 29% increase in order numbers to 276,000 and a 40% jump in repeat orders to 190,000.
Gross margins also showed continual improvement throughout the fourth quarter, with March at 54.0%.
Co-chief executives Ali Hall and Julie Lavington said: "In what has been a year that no one could have possibly predicted, we are delighted to have shown resilience and our entrepreneurial spirit, overcoming challenges to deliver a significant improvement in revenue and reduction in EBITDA losses, together with the further diversification of our product range.
"Inevitably, some uncertainty remains, however, we are seeing a gradual return to more normalised trading conditions and now have much greater visibility over forward trading. We are confident in what the future holds, and believe that Sosandar is well positioned to take advantage of the opportunities ahead of us."
As of 0940 BST, Sosandar shares were down 0.90% at 19.20p.
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