PK Beans Sees Margin Growth of 20% in Q2
Vancouver, British Columbia--(Newsfile Corp. - April 27, 2021) - Peekaboo Beans Inc. (CSE: BEAN) (OTC Pink: PBBSF) ("PK Beans" or the "Company") an innovative children's wellness brand is pleased to report positive margin growth in Q2.
The Company experienced a fluctuation of gross margin at the beginning of Q2 between 13-16% ending the quarter with a stronger gross margin of 38%. Increase in margins can be attributed to the Company's continued efforts in marketing strategy as well as their Spring Collection Launch. The collection boasts bright and colourful basics as well as customer style favourites from previous collections ranging in sizes from newborn to size 12. This size expansion has met much positive reception in the children's apparel retail space, with the larger size ranges being the first to sell out.
Strong margins continue to be seen with the Company's PK RePlay sustainability initiative supported by steady growth in demand since launching in April 2020. Second hand and vintage PK Beans styles currently provide an average of 55% margin and repurposed items boast an 80% gross margin for the Company.
"Margin improvement has been the main focus of my team and we are very pleased with our results. This combined with our recent entry point into the kids health food space and our sustainability program are big steps for us as we strengthen the fundamentals of our business" states Traci Costa, PK Beans Founder and CEO.
About Peekaboo Beans Inc.
PK Beans is an integrated and innovative children's wellness brand. From sustainable clothing options that kids love to wear, to healthy foods that fuel children's play, our mission is to provide the ingredients for a playful life. Together with our monthly adventure subscription box, consisting of interactive and engaging activities that educate and entertain, developed by an Emmy award-winning child psychologist and devoted kid-experts, our goal is to enrich, empower and nourish children through quality nutrition, clothing and play - every day. The company maximizes revenue by reaching sellers and online retailers through an omnichannel approach.
To learn more about PK Beans, visit: www.pkbeans.com
On behalf of the Board of Directors,
Peekaboo Beans Inc.
Ms. Traci Costa, President and CEO
For more information, please contact the Company at:
This news release may include forward-looking information that is subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward-looking. Although the Company believes the expectations expressed in such forward-looking information are based on reasonable assumptions, such information is not a guarantee of future performance and actual results or developments may differ materially from those contained in forward-looking information. Factors that could cause actual results to differ materially from those in forward-looking information include, but are not limited to, fluctuations in market prices, successes of the operations of the Company, continued availability of capital and financing and general economic, market or business conditions. There can be no assurances that such information will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. The Company does not assume any obligation to update any forward-looking information except as required under the applicable securities laws.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
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