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June 16, 2021, 9:41 a.m. EDT

Any investor who avoided Exxe Group, Inc. (AXXA), Wayfair (W) and At Home Group (HOME) over the past twelve months would be well served to take another look

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Jun 16, 2021 (OTC PR WIRE via COMTEX) -- The global furniture market is expected to grow from $564 billion in 2020 to $671 billion in 2021 at a compound annual growth rate (CAGR) of 18.9%.

4 good reasons attributed to this growth:

  • Improved housing market fundamentals in the United States make the near-term outlook for the furniture industry encouraging.

  • Mortgage interest rates are at record lows,

  • The continuous declines in mortgage rates have been driving new home sales, which in turn, should drive demand for furniture products in the near term.

  • Working from home or stay-at-home orders amid the COVID-19 pandemic have encouraged consumers to take on more home improvement projects.

  • Significant investments in renovation are expected to brighten the market outlook.

With home sales soaring around the world, furniture stocks provide an interesting investment opportunity for short and long-term investors. As more people buy new homes, new furniture likely follows. Here are four stocks riding this trend: Exxe Group, Inc. , Wayfair and At Home Group .

Exxe Group, Inc. /zigman2/quotes/204793300/composite AXXA +5.47% , a diversified fintech company, recently acquired a controlling interest in furniture manufacturer and interior design agency daskonzept group AG , which is headquartered in Thun, Switzerland.

  • daskonzept had assets of $11.4 million, revenue of $4 million, and EBITDA of approximately $813,000 in CY-2020. CY-2021 estimates are for revenue growth of 37% to $5.5 million, and EBITDA growth of 34% to $1.1 million.

  • daskonzept furniture brands include USM Haller, Vitra, Tecno, and Inno. The Company has various furniture manufacturing plants, offices, and warehousing operations in Switzerland, Italy, Finland, and Germany.

  • daskonzept has served a range of prestigious clients including, but not limited to, MoMA, Museum of Modern Art, New York, Charles & Ray Eames, George Nelson, Sir Norman Foster, Frank Gehry, Nicholas Grimshaw, Zaha Hadid, Tadao Ando, Alvaro Siza, Herzog & de Meuron, and SANAA.

The company recently reported record Revenues for Quarter Ending December 31, 2020

  • 3Q2021 revenues of $9.3M surpass record $8.2M set in 2Q2021

  • $9.3M 3Q2021 revenues increase 103% from $4.6M in 3Q2020

  • Record $23.7M revenue generated in first nine months of FY-2021

  • AXXA raises FY-2021 annual revenue estimate by 6% from $30.8M to $32.7M

/zigman2/quotes/204793300/composite
US : U.S.: OTC
$ 0.03
+0.0014 +5.47%
Volume: 2.27M
Sept. 17, 2021 3:59p
P/E Ratio
1.81
Dividend Yield
N/A
Market Cap
$10.20 million
Rev. per Employee
N/A
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