- Angela Gonzalez-Rodriguez |
New York – Peekaboo Beans Inc. (CSE: BEAN) recently announced its Q4 FY2020 sales result Monday. The environmentally responsible children clothing brand saw a 21 percent increase in sales over the same period last year, largely driven by whooping web traffic increase (84 percent up year-on-year.)
Total orders were also up by 36 percent over Q4 F2019. The company highlighted in its financial update that their returning customer rate was 38 percent, which they said is higher than the average returning customer rate of 20-25 percent industry bench.
Commenting on the results, the fashion brand’s CEO Traci Costa stated: “We are excited about the steady growth in sales, which we believe is driven, in part, by our recent investment in digital ad spend…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.”
Photo: Peekaboo Beans Facebook