British clothing retailer Sosandar Plc did good business in the weeks leading up to Christmas, setting a new sales record in the third quarter of the 2023/24 financial year.
According to an interim report published on Wednesday, sales in the months October to December reached 14.3 million British pounds (16.6 million euros). This corresponded to an increase of 23 percent compared to the same quarter of the previous year. By limiting discounts, the gross margin was also increased on a like-for-like basis, the company said.
The clothing retailer also confirmed its expansion plans. The first stationary stores in Great Britain are scheduled to open this spring. The company explained that the aim is to increase annual sales to over 100 million British pounds in the medium term.
For the current financial year, which ends at the end of March, management continues to expect results “in line with market expectations”. It is expected that the recent momentum will continue in the final quarter, according to a statement.