The British fast fashion retailer Sosandar Plc closed the third quarter of the 2021/22 financial year with new record figures. On Thursday, the company announced in an interim statement that it was able to more than double its sales and achieve positive earnings before interest, taxes, depreciation and amortization (EBITDA) for the first time.
In the months from October to December, the clothing retailer generated sales of 8.85 million British pounds (10.6 million euros), which corresponds to an increase of 122 percent compared to the same quarter of the previous year. Other key figures from the e-commerce specialist also developed positively: the number of active customers rose by 62 percent, the number of average orders per customer by 12 percent and the average order value by 13 percent. The company also reported new record results in business with trading partners Marks & Spencer, John Lewis and Next.
Thanks to the strong growth in sales and an increase in the gross margin from 43.6 to 55.8 percent, the clothing supplier reached an “important milestone”: For the first time a quarter was closed with a positive EBITDA, the company announced. Overall, Sosandar sees itself on track after the successful Christmas business: The Board of Directors reaffirmed its confidence that it will be able to meet market expectations in the current financial year. In view of the latest progress, the company is now on the way to “sustainable profitability”, declared the two Co-CEOs Ali Hall and Julie Lavington in a statement.
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