Vancouver, British Columbia--(Newsfile Corp. - June 9, 2021) - Peekaboo Beans Inc. (CSE: BEAN) (OTC Pink: PBBSF) ("PK Beans" or the "Company") is pleased to share an update on the Company's sales reporting promising growth year over year for May.
PK Beans saw an overall 45% increase in revenue for May; reflected by a 12% increase in online store conversion rate, 18% increase in average order value, and 24% increase in total orders. Another revenue stream showing traction and growth for the Company was PK Bean's new presence on Faire, an online wholesale marketplace. May 2021 was the Company's most profitable month on Faire marketplace to date.
The Company's sustainability program consisting of reselling and repurposing product from previous seasons, continues to grow in supply and demand, providing a strong margin for the company while supporting their efforts of sustainability and keeping textiles out of landfills. The Company continues to see positive ROA and customer loyalty with a 73% returning customer rate and has strategized their marketing and ad-spend budget to grow a wider customer base across Canada and the US. The Company is pleased to report steady growth in the US through both wholesale opportunities on Faire and directly to customers.
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
(604) 279-2326
For more information, please contact the Company at:
IR@pkbeans.com
1-604-279-2326
Reader Advisory
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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/87042
