Womenswear business Sosandar has reported a marginal increase in its annual sales to 31 March ’24 – to £46.277m from the previous year’s £42.451m with a pre-tax loss of £332,000 as compared with last year’s pre-tax profit of £1.587m.
The company says that it is currently developing from a wholly online business to a multichannel retailer, which, in addition to trading with established third-party retailers, will soon have its own store chain and that its product continues to resonate with customers.
It forecasts revenues of £54.6m and a pre-tax profit of £1m for the current year.
“We are excited to announce the first locations for our Sosandar stores. These stores fit our criteria of being positioned in top tier locations, located in the right position in affluent, thriving locations where Sosandar customers over-index,” said Ali Hall and Julie Lavington, co-CEOs, Sosandar of the imminent Marlow and Chelmsford stores. “Looking ahead, FY25 is focused primarily on delivering sustainable growth in our gross margin, pre-tax profit, cash generation and maintaining a strong balance sheet. Nonetheless, we do expect revenue growth from our own site, further third-party relationships, opening shops and the compounding positive effect that shops will have across all our channels.”
Share