Bed Bath & Beyond reports 40% lift in online sales

Bed Bath & Beyond (NASDAQ:BBBY) posted a 2.7 percent increase in revenues for the third quarter of 2014, below analysts' projections as same-store brick-and-mortar sales remained stagnant. However, the home furnishings retailer had a winning quarter in the e-commerce space as online and mobile sales increased 40 percent.

The retailer has expanded its online product offering by 40 percent, bringing it to 200,000 SKUs, reported eMarketer.

Home furnishings are increasingly popular online purchases and e-commerce now accounts for 10 percent of the home furnishings market, according to a recent report by Fluid and Wells Fargo. At the close of 2014, Williams-Sonoma (NYSE:WSM) announced that 51 percent of its sales are now made through e-commerce.

Home Depot (NYSE:HD) increased its e-commerce revenues by almost 40 percent in the past year and Lowe's has grown its e-commerce revenues by almost 36 percent.

In a recent report by the Joint Center for Housing Studies of Harvard University, statistics showed that the home improvement and furnishings industries are rising faster than the housing market as post-recession home owners choose to remodel rather than upgrade to new homes.

For more:
-See this eMarketer article

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