StockMarketWire.com - Online women's fashion retailer Sosandar said it expected to narrow annual operating losses amid a rise in sales.

Revenue for the year through March was seen climbing 35% year-on-year to £12.2 million, the company said in a trading update.

It's losses at the earnings before interest, tax, depreciation and amortisation were expected to be reduced by over 60%.

Sosandar said customer activity stepped up each month during the quarter, with record revenue delivered in the month of March, up 66% compared to January and 163% up on the lockdown-impacted previous year.

'This performance reflects an increasing level of consumer optimism as lockdown restrictions start to lift,' the company said.

'Gross margin has also shown continual improvement throughout the fourth quarter with March at 54.0%.'

'Moving into Spring and with the loosening of restrictions laid out, Sosandar has seen early signs that customers are preparing their wardrobes for a busy summer.'

'This includes an increase in the sales across all key categories, in particular colourful dresses, tops and denim.'

'Looking to the year ahead, against a backdrop of improving visibility, Sosandar is very well positioned to accelerate its growth trajectory and further improve EBITDA.'




Story provided by StockMarketWire.com