Sosandar expects 138% increase in FY22 revenues after record Q4 sales
Online womenswear brand Sosandar has revealed its second consecutive EBITDA positive quarter in Q4 of fiscal year 2022, driven by "very strong trading across all channels".
Sosandar attributed the positives results to "an earlier than normal" take up of spring and holiday ranges in its fourth quarter following "strong sales" of the autumn/winter and partywear range in its third quarter.
In its trading update for the financial year ended 31 March 2022, the company expects to report revenue in excess of £29.0m for the full year, up 138% year-on-year and ahead of market expectations.
In addition, full-year EBITDA loss has been reduced by over 80% to around £0.6m, from a loss of £2.9m in fiscal year 2021.
Commenting on the trading update, Ali Hall and Julie Lavington, Sosandar’s Co-CEOs said in a statement: "We successfully executed our strategy across our own site and third parties, building momentum in H2 and ultimately delivering our first six months of profitability which is a pivotal moment for us all. This outstanding performance means we now anticipate FY22 results to be ahead of current market expectations."
Sosandar also announced the extension of its partnership with Next PLC, with its products to be sold through Next’s 'Platform Plus'. The company also entered a new wholesale agreement with The Very Group in March.