Sosandar Plc (SOS) Q2 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, everybody, and thank you for joining us. So here with me today is Ali, co-CEO, and Steve, our CFO. So just to talk you through the agenda for today, we're going to kick off with our autumn trading highlights. Then Steve is going to do half one financials and some more financial detail on our autumn trading, followed by Ali and I looking at our operational progress, just a conclusion, and then over to you for questions. We've started the second half of the financial year really well with strong autumn trading in the months of October and November, which are our key trading months. This is both on our own site and through third parties, and we are on track for full year guidance. Revenue is up 16% year on year, and both October and November are PBT positive. Our decision to reduce price promotional activity has delivered the positive results we anticipated with margin rising to 59.8% from 56.4% last year. We've successfully launched with Freemans online and in store with Sainsbury's. We are number one or number two brand in all of Sainsbury's nine fashion concept stores. We've also executed our very first international third-party partnership with The Iconic, which went live last week, They're the biggest online player in our demographic in Australia, and the Bay in Canada will follow very soon in early 2024. Good afternoon, everybody. We shared the news in October that we are moving towards becoming a multi-channel retailer, which will significantly increase our addressable market. In preparation for becoming a multi-channel retailer, we've reduced the amount of price promotional activity on our own website, which is a norm of the PurePlay model. This reduction in price promotional activity was trialled in quarter two with the results reflected in our H1...