CANADA: Robust 11.2% Q1 sales rise at Bikini Village
Swimwear specialist Groupe Bikini Village saw first-quarter like-for-like sales rise 11.2% in results that met the company's expectations.
Net sales for the quarter ending 29 April were C$8.5m (US$7.7m), up 10.3% on 2005, leading to a net loss of C$17,000, compared to a loss of C$2.8m for the same period last year.
Operating margins improved to 1.8% compared to a negative margin of 1.4% last year.
"The first quarter was in line with our expectations," said Leslie Glazerman, president and CEO. "We remain committed to increasing shareholder value through improved profitability, focusing on continued cost costainment measures, opportunistic buying, product sourcing, leasehold improvement to certain retail locations and overall enhanced operational performance."
Bikini Village, which operates 57 swimwear outlets in Quebec and Ontario under the Bikini Village and Ocean Bikini Village brands, also announced the appointment of Sylvie Lalande as a company director, replacing Norman Legault.
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