Spending on Home Improvement is Projected to Increase Marketnewsupdates.com News Commentary

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PR Newswire 21-Feb-2018 9:00 AM
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PALM BEACH, Florida, February 21, 2018 /PRNewswire/ --
According to data compiled by Joint Center for Housing Studies of Harvard University, spending on remodeling and home improvements are expected to see healthy growth by 2025. The projections are based on demographic change and remodeling outlook throughout the forecast period. In 2015, the home improvement market reached $340 billion. The market is expected to increase 2 percent annually on average through 2025, but the forecast is slightly below the average pace of growth over the past two decades. SSLJ.com Limited (NASDAQ: SSLJ), Pier 1 Imports, Inc. (NYSE: PIR), Bed Bath & Beyond Inc. (NASDAQ: BBBY), Williams-Sonoma, Inc. (NYSE: WSM), Wayfair Inc. (NYSE: W)
Demographically, older homeowners are expected to account for majority of spending in the market, but climbing mortgage interest rates and rising house prices pose problems for potential younger homeowners. Regardless, it is expected for millennials to show strong growth in the next wave of homeowners. Millennials are expected to either buy affordable homes that are in need of renovations or look into rental housing. Chris Herbert, managing director of the Joint Center for Housing Studies, says that: "Strong demand for rental housing has opened up that segment to a new wave of capital investment, and the shortage of affordable housing in much of the country makes the stock of older homes an attractive option for buyers willing to in invest in upgrades."
SSLJ.com Limited (NASDAQ:SSLJ)in early February the company announced that, a vertically integrated O2O home decoration service and product provider inChina, today announced that the Company has entered into a strategic cooperation agreement (the "Agreement") with JD.com(NASDAQ: JD) ("JD"), the largest e-commerce company and largest retailer inChina, through JD's subsidiary Beijing JD Century Trading Co., Ltd.
SSLJ and JD are expected to further enhance overall operational efficiency, reducing their operating costs, implementing future market expansion strategies, gaining market share, as well as creating greater commercial value for both parties.
Pursuant to the Agreement, both parties agree to carry out business cooperation nationwide. SSLJ is expected to distribute its own products through JD's platform and have deep cooperation with JD in the field of Smart Homes. SSLJ shall invest a certain amount of money in the platform of JD for advertising. As consideration, SSLJ has a priority to distribute its 2018 new products on JD's platform, including but not limited to, JD Mall and JD Crowdfunding, and JD will provide high quality resources to match target customers for SSLJ.
Mr.Wei Zheng, Chairman and Chief Executive Officer of SSLJ.com Limited, stated, "We are excited about the cooperation withChina'se-commerce giant JD and the potential market that this new relationship can cultivate. JD's vast online retail channel will enable us to distribute SSLJ's products in a more efficient and economical manner to meet the growing consumer demand inChina, which further is expected to drive the Company's fast expansion in e-commerce, enhance the influence of the Company and build up the brand awareness of SSLJ."
Pier 1 Imports, Inc. (NYSE: PIR) is an omni-channel retailer of unique, decorative home furnishings and gifts. On December 13, 2017, the company reported financial results for the third quarter ended November 25, 2017. Net sales for the third quarter of fiscal 2018 decreased 1.4% to $469.2 million, compared to $475.9 million in the same period last year. Company comparable sales for the quarter decreased 0.7% versus the year-ago period. E-Commerce represented approximately 26% of net sales in the third quarter of fiscal 2018, as compared to approximately 20% of net sales in the third quarter of fiscal 2017. Taking into account e-Commerce orders placed in or picked up in-store, approximately 90% of the Company's third quarter fiscal 2018 net sales directly touched a store.
Bed Bath & Beyond Inc. (NASDAQ: BBBY) and subsidiaries is an omnichannel retailer selling a wide assortment of domestics merchandise and home furnishings which operates under the names Bed Bath & Beyond, Christmas Tree Shops, Christmas Tree Shops andThat! or andThat!, Harmon, Harmon Face Values or Face Values, buybuy BABY and World Market, Cost Plus World Market or Cost Plus. On December 20, 2017, the company reported financial results for the third quarter of fiscal 2017 ended November 25, 2017. For the fiscal 2017 third quarter, the Company reported net earnings of $.44 per diluted share ($61.3 million) compared with $.85per diluted share ($126.4 million) for the fiscal 2016 third quarter. Net sales for the fiscal 2017 third quarter were approximately $3.0 billion, relatively flat to the prior year quarter. Comparable sales in the fiscal 2017 third quarter decreased by approximately 0.3%.
Williams-Sonoma, Inc. (NYSE: WSM) is a specialty retailer of high-quality products for the home. On January 4, 2018, the company announced the launch of Robin, a new multi-channel specialty brand within the Williams-Sonoma, Inc. portfolio focused on fostering healthier lifestyles through improved sleep quality. The Robin suite of products is designed to aid in sleep quality and wellness by promoting rest, renewal, and relaxation. The Robin collection of products will be sold in select stores and online by Pottery Barn, Pottery Barn Kids, PBteen, West Elm and Williams-Sonoma Home. The brand's launch is anchored by the exclusive Robin Sleep System, which includes the Robin Pocket Spring Mattress Set and the SleepScore Max Sleep Improvement Monitor. Starting at $629, the Robin Sleep System offers a convenient path to healthier sleep. Williams-Sonoma, Inc.'s extension into the sleep solutions market is marked by its unique, home furnishings-based perspective and commitment to the individual customer experience.
Wayfair Inc. (NYSE: W) makes it possible for shoppers to quickly and easily find exactly what they want from a selection of more than 8 million items across home furnishings, dcor, home improvement, housewares and more. Recently, the company announced that it has been recognized by Fast Company as a Top 10 Most Innovative Company in AR/VR. Wayfair was recognized for its pioneering work leveraging augmented reality to transform the shopping experience for home. With Wayfair's mobile shopping app, millions of customers can now visualize furniture and dcor in their homes at full scale before they buy.
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