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Shares in Sosander PLC jumped 12 % in early trading on Monday (28 October) as the retailer reported a strong first-half revenue growth of 53%.
For the half-year period ending 30 September 2019, Sosander posted an 84% increase in sales during its second quarter and 112% increase in September alone. The company also reported that October was the first month that its net revenues surpassed £1m.
Sosander said during the half-year period, the company invested in advertising and marketing across TV and digital billboards at London tube stations.
It also invested in design, buying, merchandising and garment technology as well as expanding its range. The retailer now plans to “accelerate growth” by investing more into its TV advertising.
Ali Hall and Julie Lavington, joint CEOs, said: “Our ability as an online retailer to employ an agile strategy resulted in us focusing our customer acquisition activity on the important Autumn months towards the end of the period and carrying into current trading.
“As expected, the accelerated investment into marketing and product is producing strong results with record months in September and October. We are seeing strong engagement from our ever-expanding base of loyal existing customers and this will continue to increase as our product range grows further.”
