Despite a decline in sales over Christmas, Sosandar is still planning to expand its stores. For the three months ended 31st December, the womenswear retailer’s revenue dropped 14.6 per cent to US $ 14.84 million from US $ 17.40 million the previous year.
The drop was expected as part of Sosandar’s plan to cut back on promotions and concentrate on increasing its gross margin, which increased from 58.3 per cent to 64.7 per cent.
The brand’s overall Q3 performance was outstanding, with a 50 per cent increase in revenue, despite the decline in quarterly sales when compared to the first and second quarters of the current fiscal year.
Additionally, compared to last year, when Q3 revenue increased by 25 per cent and 31 per cent over Q1 and Q2, this was a major improvement.
The business announced it is on track to exceed its full-year target of US $ 49.28 million in revenue and US $ 1.22 million pre-tax profit, with sales through third-party partnerships, such as Next and M&S, continuing to be strong.
Sosandar has secured two additional store locations in Bath’s SouthGate shopping centre and Harrogate’s James Street as part of its ongoing physical retail expansion. The company reports that the four stores that debuted in the autumn of 2024 have all done well, and these new locations will join them.
