The gross margin for the quarter improved significantly at 50.85% vs 35.77% for the same period in 2018
Vancouver, British Columbia--(Newsfile Corp. - July 11, 2019) - Peekaboo Beans Inc. (CSE: BEAN) (OTC Pink: PBBSF) ("Peekaboo Beans" or the "Company") is pleased to announce further updates regarding its transition to an omnichannel business.
Following the Company's recent corporate update, Peekaboo Beans has announced its quarterly highlights for the period ended March 31, 2019 (Q1 2019):
Quarterly Highlights ($CAD)
"We are very excited about our start to 2019," commented Traci Costa, Founder and CEO of Peekaboo Beans. "The shift to the social retail model has resulted in major improvements in the cost-structure and gross margins. In the long-run this should allow Peekaboo Beans to achieve an operating profit and positive operating cashflow sooner than under the previous model."
About Peekaboo Beans Inc.
Peekaboo Beans is a children's apparel brand with a focus on environmentally responsible clothes that are intentionally designed to inspire play. Through an omnichannel approach, Peekaboo Beans engages sellers through social platforms, including Instagram and Facebook, as well as online retailers, to maximize revenue and build brand loyalty. The Company works to promote a playful lifestyle for children by designing comfortable clothes that are built to last.
To learn more about Peekaboo Beans, visit: www.peekaboobeans.com.
On behalf of the Board of Directors,
Peekaboo Beans Inc.
Ms. Traci Costa, President and CEO
(604) 279-2326
For more information, please contact the Company at:
[email protected]
1-866-604-6730
Reader Advisory
This news release may contain statements which constitute "forward-looking information", including statements regarding the plans, intentions, beliefs and current expectations of the Company, its directors, or its officers with respect to the future business activities of the Company. The words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions, as they relate to the Company, or its management, are intended to identify such forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future business activities and involve risks and uncertainties, and that the Company's future business activities may differ materially from those in the forward-looking statements as a result of various factors, including, but 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/46191