Peekaboo Beans Reports Record Quarterly Sales in Q1 F2020
February 5, 2020 (Source) – Peekaboo Beans Inc. (CSE: BEAN) (OTCQB: PBBSF) (“Peekaboo Beans” or the “Company”) announces quarterly sales of $592,014, an increase of 229% from Q4 2019 and an increase of 21% over the same period last year.
Other highlights in the quarter include:
- Total orders of 6,746 were up 36% over Q4 F2019
- www.peekaboobeans.com had 105,885 visitors in Q4, showing an increase of 84% over Q4 2019
- Sales from the United States were up 5% for first quarter. In comparison, in 2018 1.3% of total orders were in USD and in 2019 1.45 % of total orders was in USD
- Returning customer rate was 38%. This is higher than the average returning customer rate of 20-25% industry bench
- The Company had 125% Growth in first time customers; accounting for 2083 new customers for the quarter up from 925.
“We are excited about the steady growth in sales, which we believe is driven, in part, by our recent investment in digital ad spend,” According to Traci Costa, CEO. We are seeing a return of 10:1 on our ad spend, which is far greater than the industry average of 4:1. After trying various sales models in the past, we believe we have finally found the optimal model to drive sales and take our unique children’s clothing brand to the next level.”
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 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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