Sosandar defies retail challenges with soaring sales and reduced costs!
- Sosandar’s revenue increased by 52% to £4.28m in H1 2020.
- Gross profit rose by 48% to £2.24m compared to the previous year.
- EBITDA loss narrowed to £1.02m from £2.71m year-on-year.
- Record revenue month achieved in October 2020.
- Monthly sales from September to November surged by 115% compared to the previous five months.
- Marketing spend reduced by 49% while customer acquisition costs fell by 52%.
- Co-CEOs express optimism about future growth despite Covid-19 uncertainties.
Sosandar, the online fashion retailer, has reported a remarkable 52% increase in revenue, reaching £4.28 million for the half-year ending September 30, 2020, compared to £2.81 million the previous year. The company’s gross profit also saw a significant rise of 48%, totaling £2.24 million. Notably, Sosandar has made strides in improving its EBITDA loss, which decreased to £1.02 million from £2.71 million in the same period last year. The company attributed its success to a ‘carefully controlled’ approach to customer acquisition, resulting in a record revenue month in October. From September to November, monthly sales surged by 115% compared to the average of the previous five months, with November setting a new daily revenue record. Additionally, Sosandar achieved a 17% revenue growth compared to the same three-month period last year, while simultaneously reducing marketing expenses by 49% and customer acquisition costs by 52%. Co-CEOs Ali Hall and Julie Lavington expressed their delight at the strong revenue growth and improved EBITDA, especially during such a challenging time for the retail sector. They emphasized the hard work of their team in achieving increased sales, better cost efficiency, and enhanced customer engagement, all while expanding their product range and cutting marketing costs. Looking ahead, they remain focused on developing their product offerings and infrastructure, as well as building their customer base, despite the ongoing uncertainties posed by Covid-19. They believe that the potential for growth is substantial and are well-positioned for long-term success.
Factuality Level: 10
Factuality Justification: The article provides accurate and objective information about the financial performance of Sosandar, including revenue growth, gross profit, EBITDA improvement, and cost efficiency. The co-CEOs’ quotes support the facts presented in the article.
Noise Level: 2
Noise Justification: The article provides relevant information about the financial performance of an online retailer, including revenue growth, gross profit, and cost efficiency improvements. It also includes quotes from the co-CEOs discussing their strategy for future growth and sustainability. The content is focused on the topic and supports its claims with specific numbers and figures.
Financial Relevance: Yes
Financial Markets Impacted: Online retailer Sosandar
Financial Rating Justification: The article discusses the financial performance of online retailer Sosandar, including revenue growth, EBITDA improvement, and cost efficiency. It also mentions their plans for future growth and customer acquisition strategies.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no mention of an extreme event in the last 48 hours.
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