Sosandar (AIM:SOS) PLC shares strutted higher after the online women’s fashion retailer upped its guidance again for the year to end-March after a second successive profitable quarter.
It now expects at least £29mln of revenue, up 138% year on year, and for underlying losses (LBITDA) to be reduced by more than 80% from the £2.9mln a year ago.
Sosandar (AIM:SOS), which was founded in 2016 by two fashion journalists, said its strategy had been to accelerate sales growth on its website and through the concession partners, with an 84% increase in the number of orders and 93% in repeat orders “a result of the company's dynamic design and product development process as well as the greater depth and breadth of stock made available across all product categories”.
It also became a “strategic partner” of Next, John Lewis and Marks & Spencer, which sell Sosandar-branded clothing on their third-party brand platforms, which it believes offers “significant opportunities for further growth”.
The company said there had been an earlier-than-normal take-up of spring and holiday ranges in the past quarter and said global supply chain challenges have had no material impact to date.
Shares were up 19.5% to 28.68p by mid-morning.