BIKINI VILLAGE: Q2 brings greater loss on lower sales
CANADIAN swimwear chain Bikini Village declared a second quarter net loss of CAD 0.619m and sales more than 10 per cent lower than a year earlier at CAD 9.9m. A year earlier, its loss had been only CAD 0.133m. During the period, same store sales declined by 6.7 per cent. Recently appointed CEO Jocelyn Dumas commented: “Recognizing the challenge ahead, I see an opportunity to build on the corporation’s solid assets to reposition our brand and improve our performance at the execution level. Through fixing the fundamentals and setting a clear direction, we believe Groupe Bikini Village can take a leadership position in the Canadian marketplace offering value and premium swimwear brands delivered through a unique customer experience.”
Considering that the second quarter should have been a peak sales period, it is clear that much remains to be done to allow the chain to resume viability.