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Sosandar narrows losses on higher sales, lower marketing spend

By BFN News | 07:41 AM | Tuesday 07 July, 2020

Online women's fashion retailer Sosandar said its first-quarter losses had narrowed after its sales jumped 54%. Losses for the three months through June had reduced by around 70% on-year, the company said. Results in the month of June were 'very close' to break even, it added. The improved financial performance was also driven by a reduction in marketing spend. 'The board believes there continues to be a very significant opportunity available to Sosandar and the company anticipates that, in line with the external environment improving, it will recommence controlled and careful new customer acquisition towards the end of the second quarter and beyond,' it added. Story provided by

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