- Peekaboo Beans (BEAN) has announced that the company ended the quarter with a stronger gross margin of 38 per cent compared to 13 to 16 per cent at the beginning of the quarter
- This increase can be attributed to the company’s continued marketing strategy as well as the launch of its spring collection
- PK Beans is an integrated and innovative children’s wellness brand
- Peekaboo Beans (BEAN) is up 6.25 per cent and is trading at $0.085 per share
Peekaboo Beans (BEAN) has experienced a 20 per cent increase in gross margins at the end of the second quarter compared to the beginning of Q2.
The company ended the quarter with a stronger gross margin of 38 per cent compared to 13 to 16 per cent at the beginning of the quarter.
This increase can be attributed to the company’s continued marketing strategy as well as the launch of its spring collection.
The collection boasts bright and colourful basics as well as customer style favourites from previous collections ranging in sizes from newborn to size 12.
In addition, second-hand and vintage PK Beans styles currently provide an average of 55 per cent margin and repurposed items account for an 80 per cent gross margin.
Traci Costa, PK Beans founder and CEO, commented,
“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.”
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, the company’s mission is to provide the ingredients for a playful life.
Peekaboo Beans (BEAN) is up 6.25 per cent and is trading at $0.085 per share as of 12:12 pm ET.
