Online Retailer Thrives Amidst Uncertainty
- Sosandar sees revenues spike 62% during lockdown
- Online womenswear retailer experiences order growth of 44% and new customer acquisitions surge 15% year-on-year
- Deals with John Lewis and Next to go live on their online platforms from Autumn/Winter 2020
- Cash levels reduced from £5.2m to £4.4m due to high discounting and returns
- Net loss for the year expected to be slightly higher than previously announced £6.8m
Online womenswear retailer Sosandar has reported a significant increase in revenues, with a 62% spike year-on-year since the start of lockdown. The company has managed to maintain service and achieve growth despite industry challenges. Order growth reached 44% YoY, and new customer acquisitions increased by 15%. Deals with John Lewis and Next are set for Autumn/Winter 2020. Despite cash levels dropping from £5.2m to £4.4m due to discounting and returns, a net loss of slightly over £6.8m is expected.
Factuality Level: 7
Factuality Justification: The article provides accurate information about Sosandar’s revenue growth and new customer acquisitions during the lockdown period, as well as their partnership with John Lewis and Next. However, it also mentions a slightly higher net loss than previously announced, which could be an assumption or prediction rather than a fact.
Noise Level: 3
Noise Justification: The article provides relevant information about Sosandar’s performance during the pandemic and its growth in online sales, but it could benefit from more context on the overall market trends and a comparison with competitors or industry averages.
Financial Relevance: Yes
Financial Markets Impacted: Online clothing market
Financial Rating Justification: The article discusses the financial performance of an online womenswear retailer, Sosandar, and its revenue growth during the lockdown period. It also mentions the overall decline in the online clothing market, which impacts financial markets and companies involved in this sector.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: Minor
Extreme Rating Justification: There is no extreme event mentioned in the article, but the company has experienced a significant increase in revenue and order growth during the lockdown period due to the shift towards online shopping.
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