British clothing retailer Sosandar Plc suffered a significant decline in sales in the third quarter of the 2024/25 financial year, but was able to significantly improve its gross margin. This emerges from an interim statement that the company published on Monday.
Accordingly, sales in the three months before December 31st amounted to 12.2 million British pounds (14.5 million euros). This was almost 15 percent below the level of the same quarter of the previous year.
The gross margin increases significantly
The apparel retailer attributed the decline to a targeted reduction in markdowns as part of its strategy to improve profitability. The company made significant progress here: the gross margin, which was 58.3 percent in the same period last year, rose to 64.7 percent, explained Sosandar.
Overall, business development continues to be in line with market expectations for the current financial year, the company said. The start of January went “well”, sales of non-reduced items developed “pleasingly” despite the difficult macroeconomic environment.
The clothing retailer is pushing ahead with expansion with its own stores
The clothing supplier also continued to expand its store network. According to his own statements, he signed rental agreements for new locations in the English cities of Bath and Harrogate. Sosandar opened its first stores last year.