NEW YORK, October 19, 2016 /PRNewswire/ --
www.Financialbuzz.com - Consumer Spending in the United States increased to 11484.90 USD Billion in the second quarter of
2016, which is an all time high from 11365.20 USD Billion in the first quarter of
2016. Consumer Spending in the United
States is reported by the U.S. Bureau of Economic Analysis
and reported by Trading Economics. In the U.S. and abroad privately
owned firms produce most goods and services using a variety of
techniques. An important aspect is specialization, which is
measured by how a company produces different products and how
workers perform specific jobs within a company. Petrone Worldwide
Inc. (OTC: PFWI), Nova Lifestyle Inc. (NASDAQ: NVFY), VOXX
International Corp (NASDAQ: VOXX), Elephant Talk Communications
Corp (NYSE: ETAK), Terra Tech Corp. (OTC: TRTC)
Just this week, Petrone Worldwide Inc. (OTC: PFWI)
announced that it has expanded its business with Dewan & Sons
by signing a new strategic partnership. Dewan & Sons India, a
leading Houseware articles government export house is now
establishing a presence in the United
States, and Petrone Worldwide Inc., the appointed North
American exclusive agent, today announced the signing of a
strategic agreement to undertake direct sales and JIT distribution
to all Dewan customers in North
America. "The value-added warehousing and distribution
(VAWD), dedicated contract carriage (DCC), domestic transportation
management (DTM) of PFWI coupled with JIT and lean inventory
management will be a significant cost savings for Dewan" said
Victor Petrone, CEO of Petrone
Worldwied Inc.
Earlier during the year, Petrone Worldwide Inc., had expanded
its food service disposables offering by acquiring Indian
manufacturer of Food Service disposable aluminum products company,
Transpower Component Pvt. Ltd (India) over a share purchase agreement.
Transpower provides steam table pans, rounds, squares, oblongs,
ovals in a variety of sizes with coordinating aluminum, and board
lids. Roll foil is available in a variety of widths and lengths in
both standard for Catering, Bakery, Carry Out and Food
Processors.
Petrone Worldwide Inc. then signed a strategic agreement to
undertake "Just In Time" distribution to all Dewan & Sons India
customers in North America. Dewan
& Sons India is a manufacturer of Brassware, Copperware,
galvanized & wrought iron, aluminum ware, stainless steel
utensils, EPNS and EPSS for luxury brands and mass merchandisers in
the United States. "The
value-added warehousing and distribution, dedicated contract
carriage, domestic transportation management of PFWI coupled with
JIT and lean inventory management will be a significant cost
savings for Dewan" said Victor
Petrone, CEO of Petrone. "The service includes Direct Store
delivery of Dewans products to retail stores, thereby bypassing a
retailer's distribution center to increase inventory turns and
reduce margins for Dewan."
Nova Lifestyle Inc. (NASDAQ: NVFY) had a $15 million yearly product framework agreement to
supply U.S. made mattresses and other products to The Future Biz
School (FBS), a Hong Kong and
Malaysia-based professional
training institute. FBS offers management and marketing training to
employed professionals in Asia
based on its reward programs. The sales under the framework
agreement will be subject to, and fulfilled by, the specific orders
from the FBS. Along with the implementation of the framework
agreement, the Company has received firm orders from FBS to supply
$2 million worth of products in
October and November of 2016.
VOXX International Corp. (NASDAQ: VOXX) recently
reported positive second quarter results of Fiscal 2017. Net sales
came in at almost $160 million for
the quarter, up 3.3 percent due to huge gains of its Premium Audio
and Consumer Accessories segments. VOXX also posted net income
attributable to VOXX of $3 million,
which makes it a $7.4 million
improvement compared to the second quarter of last year with EBITDA
improvements of $8.4 million.
International provider of mobile networking software and
services, Elephant Talk Communications Corp. (NYSE:
ETAK) addressed that its subsidiary, ValidSoft, completed its final
major step in the Company's restructuring plan. Elephant Talk
preserves its ability to continue to co-market and bundle
ValidSoft's Voice Biometric and Authentication services, which
symbolizes ongoing income generation opportunities as part of a
continuous license, without restrictions, including integrating
ValidSoft's future release versions into Elephant Talk's growing
global mobility cloud platform.
Cannabis-focused agriculture company, Terra Tech Corp.
(OTCQX: TRTC) has recently announced the Grand Opening of its third
Blüm retail dispensary in Nevada.
The 5,220 square foot facility is located at 1130 East Desert Inn
Road, Las Vegas, east of the Las
Vegas Strip next to the Convention Center. The Decatur Boulevard
Blüm Dispensary will offer the Company's proprietary IVXX™ brand of
premium medical cannabis, flowers, shatters, waxes and oils, among
other high-quality cannabis products from a range of reputable
providers of superior grade medical cannabis.
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