Sosandar PLC (LON:SOS) sashayed past the £1mln-a-month milestone fashionably early in October and said it expects sales of its clothing to exceed this in November, though half-year losses increased.
The online womenswear brand said in its interim results on Wednesday that revenues jumped 53% to £2.82mln in the six months to 30 September, after its active customer base grew 70% to above 75,000 and orders placed increased 47% but average order size fell 7%.
READ: Sosandar looking sharp as revenues surge 53%; plans increased marketing spend to boost customer traffic
Sosandar, which was founded by fashion journalists Ali Hall and Julie Lavington and reversed onto AIM in late 2017, said it has continued to storm ahead in the early weeks of the second half, with sales doubling in October and on course for at least the same in November.
The digital retailer added that the second half of the year, “has already exceeded full Q2 numbers”.
This reflects increased investment in clothing design and Sosandar's first ever TV adverts as, having completed an oversubscribed £7mln placing in July, the brand increased expenditure 44% to £4.3mln.
But as costs rose, operating losses swelled 41% to £2.8mln.
Joint chief executives Hall and Lavington said that investments in the latter part of the second quarter “resulted in exceptional autumn trading”, with the net revenues topping £1mln for the first time last month a “special milestone”.
The shares were up 4% to 26.08p in early trade on Wednesday.