NEW YORK, February 5, 2018 /PRNewswire/ --
While retail sales have been slowing across many sectors, online sales have picked up pace. This is true about the home
improvement sector as well. According to a research published by The NPD Group, online sales of home improvement products have
grown 41 percent in the 12 months ending March 2017. Home improvement products span across a wide
range of goods, from plumbing and hardware to storage and décor. The report also indicates that the e-commerce home improvement
market reached $10.9 billion in sales for the year. SSLJ.com Limited (NASDAQ: SSLJ), The Home Depot
Inc. (NYSE: HD), Lowe's Companies, Inc. (NYSE: LOW), Bed Bath & Beyond Inc. (NASDAQ: BBBY), At Home Group Inc. (NYSE:
HOME)
Executive director and home industry analyst at NPD, Joe Derochowski, explained, "The pace at
which e-commerce is gaining acceptance among home improvement consumers emphasizes the need to understand how consumers are
utilizing online and in-store shopping options, and how to make them work together… Marketers can capture the replenishment of
commodity products, like light bulbs and air filters, by offering online convenience, but there are also opportunities to benefit
from consumer showrooming for bigger ticket items, like bathtubs and vanities, with the in-store experience."
SSLJ.com Limited (NASDAQ: SSLJ) just announced Initial Public Offering (IPO) breaking news this past Friday, "A
vertically integrated O2O home decoration service and product provider in China, today announced
the closing of its initial public offering, selling the maximum amount of 4,000,000 Class A ordinary shares at a public offering
price of $5.00 per share for total of $20,000,000 in gross proceeds
before expenses. The shares are expected to begin trading Monday February 5, 2018 on The NASDAQ
Capital Market under the symbol "SSLJ." Boustead Securities was the Sole Underwriter of SSLJ's initial public offering, the
firm's fourth NASDAQ IPO of a Chinese company in the past six months, and it's first for 2018.
Mr. Wei Zheng, CEO of SSLJ.com commented, "We are honored to have support from investors
worldwide as we successfully closed on our IPO and prepare to begin trading on The NASDAQ Capital Market. We look forward to
communicating our business growth with our shareholders."
Dan McClory, Head of Equity Capital Markets and Head of China
at Boustead Securities, said "SSLJ.com has received interest as the first Chinese IPO in the U.S for 2018, and completed the
offering at the maximum amount. Our investors look forward to seeing SSLJ trade on NASDAQ starting next week..."
The Home Depot Inc. (NYSE: HD) is the world's largest home improvement specialty retailer, with 2,284 retail stores in
all 50 states, the District of Columbia, Puerto Rico,
U.S. Virgin Islands, Guam, 10 Canadian provinces and
Mexico. On December 21, 2017, the company announced that it has
acquired The Company Store, a leading online retailer of textiles and home décor products, from Hanover Direct. The deal closed
on December 19 and terms were not disclosed. In addition to its success as an online retailer, The
Company Store has strong relationships and industry leading capabilities in the development and sourcing of high quality textiles
across bedding, bath, and related categories. Founded in 1911, The Company Store has a rich history of providing products that
are highly sought after by customers as they put the finishing touches on a room.
Lowe ' s Companies, Inc. (NYSE: LOW) is a FORTUNE® 50 home improvement company serving more than 17
million customers a week in the United States, Canada and
Mexico. With fiscal year 2016 sales of $65.0 billion, Lowe's and
its related businesses operate or service more than 2,370 home improvement and hardware stores and employ over 290,000 people. On
January 26, 2018, the company announced it authorized a new $5
billion repurchase program for the company's common stock. This new repurchase program has no expiration date and is
additive to the previous program's remaining balance, which was $2.1 billion as of Nov. 3, 2017, the end of the company's third fiscal quarter. Repurchases will be subject to market conditions
and will be made from time to time either in the open market or through private off-market transactions in accordance with the
requirements of the Securities and Exchange Commission. The company's repurchase program may be suspended, discontinued or
resumed at any time.
Bed Bath & Beyond Inc. (NASDAQ: BBBY) and subsidiaries is an omnichannel retailer selling a wide assortment of
domestics merchandise and home furnishings. Customers can purchase products either in-store, online, with a mobile device or
through a customer contact center. The Company generally has the ability to have customer purchases picked up in-store or shipped
direct to the customer from the Company's distribution facilities, stores or vendors. 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%.
At Home Group Inc. (NYSE: HOME), the home decor superstore, is focused on providing customers with the broadest
assortment of home decor products to suit every room, every style and every budget. With a wide assortment of over 50,000 items
throughout our stores, At Home enables customers to express themselves and create a home that reflects their personality and
style. On November 29, 2017, the company announced its financial results for the third quarter
ended October 28, 2017. Net sales grew 24.8% to $213.0 million from
$170.7 million in the quarter ended October 29, 2016 driven by the
net addition of 22 stores since the third quarter of fiscal 2017 and a comparable store sales increase of 7.1%. Excluding the net
impact of Hurricanes Harvey and Irma, the company estimated that comparable store sales would have increased 8.3%. The company
expanded its footprint by opening eight new stores in the third quarter of fiscal 2018. It ended the quarter with 144 stores in
33 states, which represents an 18.0% increase in store count since October 29, 2016.
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