Fashion brand Sosandar, which lost demand from the M&S website due to the much publicised cyber attack from mid-April, has reduced its sales forecast by £2.6m for the year to 31st March 2026, whilst adjusting its pre-tax profit guidance to £400k rather than its previously advised £1.4m.
The business had confirmed sales of £371.m for year ended 31 March ’25 which was 19 per cent down on the previous year, but with an adjusted pre-tax profit of £200k on the lower revenue as compared with a £300k loss on higher sales.
Now, in the light of the ongoing absence of revenue from the M&S channel and its tighter grip on price reductions, it has opted to be prudent and to call a halt on opening any further stores.
Putting a brave face on what has been a challenging period across the fashion sector exacerbated for all the third-party brands reliant on the digital M&S channel, its co-chief executives Ali Hall and Julie Lavington said: “During the last year we’ve strengthened the foundations of our businesses, which will enable us to deliver our growth and profit ambitions going forwards.
“Taking the decision to reduce price promotions has resulted in an expected reduction in revenue but significantly improved margins and cash generation, which, in turn, has allowed the group to maintain a robust balance sheet and self-fund its growth plan.”
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