Sosander Shares (LON:SOS) fell 2.53% on Tuesday morning after the group released a six-month trading update.
For the six months ended September 30th, revenues surged 52% from £2.81 million to £4.28 million, while gross profit rose 48% to £2.24 million.
Monthly sales from September to November increased 115% compared to the average over the past five months, with retailers saying their return rates fell by 7%.
Ali Hall, Julie Lavington, Co-CEOS commented: This is the true achievements and proof of the incredible team we built with Sosandar. It has increased sales, increased cost efficiency, increased customer engagement, database growth, rapidly expanding product range, and at the same time significantly reduced marketing spending.
“Since September, we have been steadily increasing our momentum as we have carefully increased our acquisition of new customers and trading spending. We are extremely pleased to surpass the record highs we saw last fall in half of our marketing spend.
“As expected, we now sell a much wider range of casual and home-based products than before. However, Sosandar customers remain strong in selling sequins, leather, fur coats and knee boots, and have not lost their appeal.
“Looking ahead, short-term uncertainty remains due to Covid-19, but our long-term focus has not wavered. The scale of our opportunity is substantial and we are well placed to realize our ambitions to become a long-term, sustainable success.”
Sosander Shares (LON: SOS) is currently trading -5.82% at 18,60 (0903GMT).
