Lake Zurich, Ill., May 4, 2016 ⎯ First quarter sales growth for radiant heating products outpaced an already robust national remodeling market.
WarmlyYours Radiant Heating has released its “First Quarter Industry Report” for 2016. This online report shows that the company posted a 15 percent increase in gross consolidated sales for the first quarter when compared to the prior-year period. This continues a pattern of sales growth for the company that has stretched on for four consecutive fiscal quarters. Even when comparing this pattern to the aggressive surge in national remodeling activity, this report finds that the growth in sales for WarmlyYours is the more dynamic actor—nearly doubling the increase in remodeling spending.
The most recent Leading Indicator of Remodeling Activity (LIRA) report, which was released by the Joint Center for Housing Studies of Harvard University, predicts that by the end of 2016, home remodeling spending will increase 8.6 percent, and increase to 9.7 percent by the first quarter of 2017.
Chris Herbert, the managing director of the Joint Center, pointed to a few identifiable factors that are contributing to the continued increase in remodeling activity.
“Ongoing gains in home prices and sales are encouraging more homeowners to pursue larger-scale improvement projects this year compared to last with permitted projects climbing at a good pace,” said Herbert in a statement. “On the strength of these gains, the level of annual spending for remodeling and repairs is expected to reach nearly $325 billion nationally by early next year.”
Because remodeling activity is arguably the leading driver of electronic radiant heating system sales, Julia Billen, the owner and president of WarmlyYours Radiant Heating, is very optimistic.
“With the current remodeling market growing the way that it is, the sky’s no longer the limit,” said Billen. “As far as we’re concerned, there is no limit to how far we’ll go.”
The report identifies significant regional growth as a major factor in the development of the company’s gross consolidated sales.
Part of the first quarter success for WarmlyYours is certainly attributable to a 45 percent increase in sales for the Canadian market. This surge in sales for Canada can be partially explained by increases in the sales of electric floor heating systems, which increased by nearly 56 percent in the first quarter of 2016.
Another area of growth identified in the report is the continued progression of our “Outdoor Heating Systems.” This product category, which includes snow melting and roof and gutter deicing systems, made up only 5 percent of total sales in the first quarter of 2015. By the same time in 2016, sales of “Outdoor Heating Systems” more than doubled to constitute 11 percent of total sales for the company.
For more than 15 years, WarmlyYours Radiant Heating has offered the industry’s most innovative solutions in radiant heating technology, from our flagship floor-heating systems and radiant wall panels to snow-melting systems, as well as comfort products, including towel warmers, mirror defoggers, shower floor and bench heating, and countertop heaters. With locations in the United States and Canada, WarmlyYours provides unrivaled personalized customer support from start to finish, featuring measuring and design services, 24/7 technical support, and our No Nonsense™ Warranty. For more information, visit www.WarmlyYours.com.