Lowe’s to carry expanded line of Osram Sylvania LEDs
Massachusetts-based lighting company Osram Sylvania announced that it would be expanding it’s lineup of LED light bulbs. This month, Lowe’s will start stocking the seven new bulbs.
Among the company’s new LED bulb offerings are the ones meant to replace 40- and 60-watt incandescent bulbs. The 60-watt LED bulb puts out the same amount of light as a 60-watt incandescent with 8.5 watts of electricity.
"Up until this point, consumers have been forced to compromise on the appearance of their light bulb in order to receive the long life and energy savings associated with LED technology," said Lowe’s merchandising VP lighting, Dean Kochalka. "Our new line of 60-watt and 40-watt replacement bulbs gives consumers the best of light bulb design and energy efficiency, providing a perfect solution for replacing traditional light bulbs in the home."
Some of the new products expand the company’s soft white and natural daylight light bulb offerings with LEDs that emit as much light as 40-, 60- and 70-watt incandescent bulbs. Additionally, Osram Sylvania is releasing dimmable LED bulbs in 40-, 60. 75- and 100-watt varieties.
According to Osram Sylvania’s VP retail sales, Matt McCarron, “these new LED light bulbs come at a perfect time and offer what consumers want most from lighting — brightness, energy savings and a long life — that is all available in the familiar shape of the incandescent bulbs they replace."
Tile Shop posts double-digit growth in Q2
Tile Shop Holdings got a big boost to its coffers in the form of a 14.7% net sales increase in the second quarter, the company reported Monday.
Net sales for the three months ended June 30 were $66.7 million, compared with $58.1 million in year-ago terms. Comparable-store sales increased 0.3%.
Net income for the quarter was $3.8 million, up from $3.6 million in the second quarter of 2013. Tile Shop also saw green for the six-month period, posting income of $7.5 million compared with a loss of $41.1 million the year before.
“Our stores delivered a slight increase in comparable store sales in the second quarter over the very strong levels achieved last year, despite a challenging environment," said CEO Robert Rucker. "Our two-year comparable-store sales growth for the quarter was 15%, which we believe continues to demonstrate that we are taking share in our industry and further validates the overall strength of The Tile Shop model."
COO Chris Homeister added that Tile Shop’s sales and operating teams delivered 70% gross margin as well as a decline in inventory levels.
Additionally, Tile Shop expanded by five new stores during the second quarter, all of which were in new markets across the country.
Rucker added that larger economic factors at play may lead to a full-year outlook for 2014 that’s substantially different than last year.
"As recently noted across many retail segments, it has become clear that certain macroeconomic factors that supported strong sales levels throughout much of 2013 have substantially weakened in 2014, most notably for our business, existing-home sales," he said. "Our expectation when the year began was that similar trends from 2013 would continue during 2014, but this has not proven to be the case.”
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