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Nova Lifestyle Inc   (NVFY)
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Nova Lifestyle Inc's Customers Performance

NVFY

 
NVFY's Source of Revenues Nova Lifestyle Inc's Corporate Customers have recorded an advance in their cost of revenue by 9.4 % in the 2 quarter 2022 year on year, sequentially costs of revenue grew by 19.22 %. During the corresponding time, Nova Lifestyle Inc sequentially revenue fell by -2.17 %. While revenue at the Nova Lifestyle Inc 's corporate clients recorded rose by 8.01 % year on year, sequentially revenue grew by 17.54 %.

List of NVFY Customers




Nova Lifestyle Inc's Customers have recorded an advance in their cost of revenue by 9.4 % in the 2 quarter 2022 year on year, sequentially costs of revenue grew by 19.22 %, for the same period Nova Lifestyle Inc sequentially revnue fell by -2.17 %.

List of NVFY Customers


   
Customers recorded net loss in Q2 Customers recorded net loss



Nova Lifestyle Inc's Customers, Q2 2022 Revenue Growth By Industry
Customers in Chemicals - Plastics & Rubber Industry -6.46 %   
Customers in Miscellaneous Fabricated Products Industry      27.34 %
Customers in Construction Services Industry      14.78 %
Customers in Miscellaneous Manufacturing Industry      2.68 %
Customers in Industrial Machinery and Components Industry      9.11 %
Customers in Auto & Truck Parts Industry      18.06 %
Customers in Furniture & Fixtures Industry -0.65 %   
Customers in Recreational Products Industry -5.36 %   
Customers in Office Supplies Industry      28.78 %
Customers in Renewable Energy Services & Equipment Industry      7.94 %
Customers in Property & Casualty Insurance Industry      10.22 %
Customers in Real Estate Investment Trusts Industry    
Customers in Biotechnology & Pharmaceuticals Industry      277433.33 %
Customers in Medical Equipment & Supplies Industry    
Customers in Electronic Instruments & Controls Industry      23.05 %
Customers in Department & Discount Retail Industry -3.34 %   
Customers in Home Improvement Industry      4.06 %
Customers in Specialty Retail Industry      40.28 %
Customers in Wholesale Industry      8.34 %
     
• Customers Valuation • Customers Mgmt. Effect.


Nova Lifestyle Inc's Comment on Sales, Marketing and Customers



Our target end customer is the middle and upper middle-income consumer of residential furniture. In China, we currently sell our products through stores in our franchise network and to unaffiliated retail stores and distributors. We initiated internet sales of our products direct to consumers in China through our own online store in September 2012. In the U.S. and international markets, our sales principally are to furniture distributors and retailers who in turn offer our products under their own brands or under our Diamond Sofa brand. Our two largest customers were Encore Sofa Inc. and High Fashion Home which in total accounted for 13.5% of our total sales. Our two largest customers in 2014 were Actona Company A/S, a global furniture distributor and Dongguan Metals and Minerals Import and Export Company (Dongguan Wu Jin Kuang Ye), which in total accounted for 14% of our sales. No individual customer accounted for greater than 10% of our sales. We plan to increase direct sales to retailers and chain stores worldwide as we continue to diversify our customer base from global furniture distributors.

Franchisees agree to sell products from one of our Colorful World and Giorgio Mobili brands pursuant to a product franchise agreement for a period of one year and guarantee to purchase a minimum amount of goods from us. The product franchise agreement is renewable and we retain the right to terminate the agreement should the franchisee fail to meet the minimum purchase amount requirements or our quality standards. We believe that consumers in China seek quality and stylish furniture designed as stand-alone pieces and whole furniture suites. We believe that our sales in China will grow significantly as we continue to expand our franchise store network for our distinctive brands and pursue internet-based sales of our new brands.

In the U.S. and international markets, we focus on establishing and growing long-term relationships with our customers. We believe that the majority of our customers view us as a strategic long-term supplier and value the quality of our products, our timely delivery and design capabilities. We expect that a majority of our sales will continue to come from our sales to the U.S. and international markets. We acquired Diamond Bar in August 2011, which has driven expansion of our sales to the U.S., Mexico, and South America through Diamond Bar’s longstanding customer relationships and distribution capabilities. In addition, we anticipate increasing internet sales under the Diamond Sofa brand through third-party shopping portals. We believe that as we expand our broad network of distributors and increase direct sales, our exposure to regional recessions will be reduced and allow us to better capitalize on emerging market trends.

We typically experience stronger fourth and first calendar quarters as our product sales are subject to the seasonality and fluctuations typical of the furniture industry. This industry-based seasonality generally is caused by shipping lead-times to international markets combined with the real estate market slowdown and decrease in furniture consumption commonly experienced during the summer months in the Northern Hemisphere markets in which the majority of our customers are located and our products sell at retail. In addition, we believe that consumer demand for furniture generally reflects sensitivity to overall economic conditions, including, but not limited to, unemployment rates, housing market conditions and consumer confidence.






Nova Lifestyle Inc's Comment on Sales, Marketing and Customers


Our target end customer is the middle and upper middle-income consumer of residential furniture. In China, we currently sell our products through stores in our franchise network and to unaffiliated retail stores and distributors. We initiated internet sales of our products direct to consumers in China through our own online store in September 2012. In the U.S. and international markets, our sales principally are to furniture distributors and retailers who in turn offer our products under their own brands or under our Diamond Sofa brand. Our two largest customers were Encore Sofa Inc. and High Fashion Home which in total accounted for 13.5% of our total sales. Our two largest customers in 2014 were Actona Company A/S, a global furniture distributor and Dongguan Metals and Minerals Import and Export Company (Dongguan Wu Jin Kuang Ye), which in total accounted for 14% of our sales. No individual customer accounted for greater than 10% of our sales. We plan to increase direct sales to retailers and chain stores worldwide as we continue to diversify our customer base from global furniture distributors.

Franchisees agree to sell products from one of our Colorful World and Giorgio Mobili brands pursuant to a product franchise agreement for a period of one year and guarantee to purchase a minimum amount of goods from us. The product franchise agreement is renewable and we retain the right to terminate the agreement should the franchisee fail to meet the minimum purchase amount requirements or our quality standards. We believe that consumers in China seek quality and stylish furniture designed as stand-alone pieces and whole furniture suites. We believe that our sales in China will grow significantly as we continue to expand our franchise store network for our distinctive brands and pursue internet-based sales of our new brands.

In the U.S. and international markets, we focus on establishing and growing long-term relationships with our customers. We believe that the majority of our customers view us as a strategic long-term supplier and value the quality of our products, our timely delivery and design capabilities. We expect that a majority of our sales will continue to come from our sales to the U.S. and international markets. We acquired Diamond Bar in August 2011, which has driven expansion of our sales to the U.S., Mexico, and South America through Diamond Bar’s longstanding customer relationships and distribution capabilities. In addition, we anticipate increasing internet sales under the Diamond Sofa brand through third-party shopping portals. We believe that as we expand our broad network of distributors and increase direct sales, our exposure to regional recessions will be reduced and allow us to better capitalize on emerging market trends.

We typically experience stronger fourth and first calendar quarters as our product sales are subject to the seasonality and fluctuations typical of the furniture industry. This industry-based seasonality generally is caused by shipping lead-times to international markets combined with the real estate market slowdown and decrease in furniture consumption commonly experienced during the summer months in the Northern Hemisphere markets in which the majority of our customers are located and our products sell at retail. In addition, we believe that consumer demand for furniture generally reflects sensitivity to overall economic conditions, including, but not limited to, unemployment rates, housing market conditions and consumer confidence.










NVFY's vs. Customers, Data

(Revenue and Income for Trailing 12 Months, in Millions of $, except Employees)



COMPANY NAME MARKET CAP REVENUES INCOME EMPLOYEES
Nova Lifestyle Inc 10.59 14.18 -17.86 726
Williams sonoma Inc 18,477.43 5,401.17 950.32 28,100
Best Buy Co Inc 16,851.82 46,298.00 1,419.00 105,000
Costco Wholesale Corp 325,355.34 248,828.00 6,794.00 304,000
Dillard s inc 6,972.25 6,878.03 777.53 40,000
Target Corporation 77,571.30 107,412.00 4,138.00 450,000
Walmart Inc 494,240.55 611,289.00 11,292.00 2,300,000
Kohl s Corp 2,787.47 17,539.00 -142.00 137,000
Macys Inc 6,088.80 23,755.00 684.00 166,900
Berkshire Hathaway Inc 492,047.10 349,271.00 77,710.00 0
Big Lots Inc 106.07 4,831.39 -463.63 36,100
The Kroger Co 40,737.75 147,797.00 1,881.00 420,000
Bed Bath and Beyond Inc 7.29 5,344.69 -3,498.80 60,000
Kb Home 5,629.77 6,410.63 590.18 1,590
Stanley Black and Decker Inc 11,993.34 15,781.10 -281.70 71,300
Snap on Inc 15,486.11 5,108.30 1,034.60 12,800
Brunswick Corporation 6,136.71 6,401.40 420.40 12,165
Leggett and Platt Inc 2,518.49 4,724.80 -136.80 22,000
Masco Corporation 16,687.32 7,967.00 960.00 20,000
Fluor Corporation 7,018.50 15,573.00 123.00 37,508
J c penney Company Inc 59.14 7,531.00 -1,285.00 114,000
Home Depot Inc 372,722.25 152,669.00 15,143.00 490,600
Lowes Companies Inc 140,487.96 90,219.00 7,664.00 340,000
D r Horton Inc 50,861.91 35,928.60 4,782.60 13,237
Lennar Corp 44,924.27 34,233.37 3,961.29 9,495
Illinois Tool Works Inc 80,332.04 16,107.00 2,957.00 45,000
Fastenal Co 43,283.91 7,346.50 1,155.00 20,507
W w Grainger Inc 50,204.86 16,478.00 1,903.00 24,200
Beam Therapeutics Inc 2,798.26 81.55 -313.67 0
Newell Brands Inc 3,161.79 8,133.00 -388.00 32,000
Lgi Homes Inc 2,531.51 2,358.58 199.23 390
Emcor Group Inc 15,622.73 12,582.34 633.33 27,000
New Home Co Inc 165.83 497.10 5.23 234
Meritage Homes Corporation 5,831.03 1,518.56 738.75 1,409
Nvr Inc 25,991.07 9,518.20 1,591.61 6,600
Covanta Holding Corporation 2,793.12 2,034.00 25.00 0
Beazer Homes Usa Inc 916.76 2,147.69 156.01 1,063
M d c Holdings Inc 4,746.87 4,520.11 401.01 0
Mi Homes Inc 3,510.76 4,033.50 465.37 1,008
Hovnanian Enterprises Inc 915.96 2,463.18 132.53 0
Toll Brothers Inc 13,355.49 9,994.94 1,372.07 3,900
Achari Ventures Holdings Corp I 35.36 855.20 -2.25 214
Tutor Perini Corporation 663.87 3,879.62 -127.60 10,626
The St Joe Company 3,081.02 389.29 74.05 61
Xinyuan Real Estate Co Ltd 285.80 950.01 -258.68 1,007
Stratus Properties Inc 181.44 26.30 -21.13 114
Taylor Morrison Home Corp 6,245.72 7,901.79 871.98 113
Tri Pointe Homes Inc 3,409.13 4,167.88 349.20 1,036
Century Communities Inc 2,834.08 3,727.03 194.24 510
Green Brick Partners Inc 2,500.70 1,758.42 287.48 0
Nobility Homes Inc 122.17 64.82 11.32 129
Bassett Furniture Industries Incorporated 128.69 389.49 -3.17 2,237
Ethan Allen Interiors Inc 835.54 704.51 80.11 5,200
Flexsteel Industries Inc 182.75 391.67 15.24 1,460
Hooker Furnishings Corporation 253.45 477.68 7.43 645
Kimball International Inc 458.82 703.89 -19.46 3,081
La z boy Incorporated 1,577.91 2,052.87 118.95 8,700
Hg Holdings Inc 16.76 13.81 1.21 71
Tempur Sealy International Inc 9,306.91 4,924.70 370.70 7,200
Virco Mfg Corporation 164.77 264.52 28.33 695
Escalade Incorporated 185.20 270.20 9.67 522
Hd Supply Holdings inc 8,947.43 5,159.50 1,889.20 14,000
Hni Corporation 1,966.65 2,433.30 49.20 10,400
Millerknoll Inc 2,266.09 3,897.20 83.30 0
Knoll Inc 1,233.57 1,187.70 6.40 3,386
Steelcase Inc 1,509.20 3,186.10 75.50 11,000
Now Inc 1,558.44 2,313.00 133.00 4,500
Quanex Building Products Corporation 1,187.90 1,107.82 86.84 4,138
Park ohio Holdings Corp 326.76 1,497.50 -9.90 600
Techprecision Corporation 31.83 33.19 -0.63 102
Intest Corp 137.14 128.69 11.82 316
Crawford United Corp 152.08 141.53 13.13 451
SUBTOTAL 2,463,718.10 2,112,004.94 149,875.90 5,447,620


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