Groupe Bikini enters last quarter with good inventory situation

Groupe Bikini Village inc reported that, for the second year running, it achieved solid sales in its third quarter of the fiscal year, a quarter traditionally marked by a seasonal slowdown in business volumes. The Company's third quarter 2010 sales performance nearly matched the high standard it had set last year.

2010 third quarter results
Net sales for the third quarter which ended October 30, 2010 were $6.5 million compared to $6.7 million in the corresponding quarter of the previous year. Comparable sales, which compares the sales from the same number of stores year over year, increased by 2% for the quarter.
The Company was able to stem operating loss (EBITDA) for the third quarter at $1.5 million, down $0.4 million from the $1.9 million operating loss (EBITDA) in the same period in 2009, by tightly managing inventories, focusing on full-price selling, and controlling costs. "While the third quarter traditionally presents a challenge due to the seasonal nature of the swimwear business, said President and CEO Yves Simard, Groupe Bikini Village's third quarter results over the last two years demonstrate the effectiveness of these strategies.".
For the quarter ended October 30, 2010, the Company's net loss was $1.5 million (($0.81) per share, basic and diluted), as compared to net loss of $1.8 million (($1.34) per share, basic and diluted) for the same quarter in the previous year.

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