Peekaboo Beans Announces 300% Revenue Increase in June from Summer Sale
July 15, 2019 (Source) – Peekaboo Beans Inc. (CSE: BEAN) (OTCQB: PBBSF) (“Peekaboo Beans” or the “Company”) is pleased to provide shareholders with an update on the Company’s revenue increase following a successful summer sale. The month of June in 2019 brought in $160,000 in revenue across Peekaboo Beans’ various distribution channels, compared to $41,000 in June 2018.
In addition to the summer sale, the transition to an omnichannel business model initiated the increase in marketing spend, which brings in an average return of 5:1. Q1 2019 expenses have been reduced from $1.1M to $570,000 and commission costs have lowered to 9% from 28% on average.
Traci Costa, CEO and President of Peekaboo Beans commented, “We are very excited with our June revenue results and are eager to see how we can continue to beat our expectations moving forward. Transitioning to an omnichannel business model gave us the push we needed to ramp up our marketing spend and enhance our brand positioning through various campaigns. Not only have we lowered operational costs, but we are reaching a greater target audience; our brand loyalty is growing, and we are excited to see how this success will continue.”
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 omni-channel 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
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.
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