Markdowns hurt Bikini Village margins

Bikini Village, a 61-store chain in Canada that carries industry swimwear brands, said its margins were hurt by markdowns in the quarter ended May 2, as consumers grew reluctant to shop.

Sales for the quarter were flat at $9.9 million, while same-store sales fell 4.6 percent. (All figures are Canadian dollars)

The company, based in Quebec, recorded a net loss of $286,000 vs. a net income of $167,000 during the same quarter last year.

Bikini Village will continue to expand in key markets and renovate older stores, CEO Yves Simard said in a note to investors.

The company has recently expanded beyond its traditional territories of Ontario and Quebec into Nova Scotia and New Brunswick.

Bikini Village carries swimwear and boardshorts from brands such as Paul Frank, Roxy, O'Neill, Billabong, Volcom, Hurley, Raisins, Body Glove and L*Space.