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Groupe Bikini Village enjoys an improved financial situation
26 Apr '08
3 min read
“We are proud to have been able to deliver this growth despite the cumulative 57 weeks in which we had stores closed for renovations, mostly in the fall of 2007,” said Mr. Simard. “This shows that we are generating more sales in our stores than we were at the same time a year earlier, before many of our renovations had taken place. Clearly, our strategy is having the intended effect on our results.”
Renovations and expansion in retail network driving momentum:
In late 2006, Groupe Bikini Village inc. undertook an aggressive expansion and renovation strategy, as a means of capitalizing on the potential offered by a number of its older stores.
In 2007, the Company accelerated its renovation calendar, completing thirteen total store renovations (most of which were completed in the fall of 2007, in time for the fourth quarter), closed two non-performing stores, opened two stores in Québec and one in Ontario, and opened its first store in Nova Scotia.
“The $3.8 million Groupe Bikini Village inc. invested in capital improvements in its stores in 2007 transformed our formerly aging retail network into a chain in which a third of the stores are new,” said Mr. Simard. “As our results are already demonstrating, this fresh new appeal puts us in a stronger competitive position, better able to attract customers.
It is also providing us with better positioning in relation to our partners managing the retail malls in which our stores are located: since our renovated stores are bringing in more shoppers, we offer more appeal for mall managers, and are therefore better-positioned to negotiate mall locations in high-traffic areas which should, in turn, further improve our sales.
We are now mid-way through our renovation and expansion strategy: in 2008, we will continue to move forward, making further capital investments in our retail infrastructure to take even better advantage of the potential of our market and our brand.”
Click here to view more:
Renovations and expansion in retail network driving momentum:
In late 2006, Groupe Bikini Village inc. undertook an aggressive expansion and renovation strategy, as a means of capitalizing on the potential offered by a number of its older stores.
In 2007, the Company accelerated its renovation calendar, completing thirteen total store renovations (most of which were completed in the fall of 2007, in time for the fourth quarter), closed two non-performing stores, opened two stores in Québec and one in Ontario, and opened its first store in Nova Scotia.
“The $3.8 million Groupe Bikini Village inc. invested in capital improvements in its stores in 2007 transformed our formerly aging retail network into a chain in which a third of the stores are new,” said Mr. Simard. “As our results are already demonstrating, this fresh new appeal puts us in a stronger competitive position, better able to attract customers.
It is also providing us with better positioning in relation to our partners managing the retail malls in which our stores are located: since our renovated stores are bringing in more shoppers, we offer more appeal for mall managers, and are therefore better-positioned to negotiate mall locations in high-traffic areas which should, in turn, further improve our sales.
We are now mid-way through our renovation and expansion strategy: in 2008, we will continue to move forward, making further capital investments in our retail infrastructure to take even better advantage of the potential of our market and our brand.”
Click here to view more:
Groupe Bikini Village inc
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