NEW YORK — The bed and board industry is in its second year of rapid growth.
The industry is seeing the greatest growth of any new business segment and it is seeing a record number of people move in to these homes.
It’s the second year in a row that bed and Board has broken records for growth in the bed andboard industry.
The latest milestone was a $1.3 billion profit for Bed and Board.
The company posted a profit of $1,099 million for the year ending March 31.
This is a 2% increase from last year, and a new record.
“This is the fastest growth in more than 30 years and shows that this industry is now growing at an incredible pace,” said John Caulfield, chief executive of Bed and Boards.
“This industry is a critical part of the fabric of New York City and we’re making huge gains in the past year.”
This year, Bed and Baths had nearly 3 million square feet of space, which was up 3.5% from last years year.
This includes a record 2.6 million square foot expansion in the United States, which is up 2.4% from 2016.
The number of units grew 7.5%.
The company says the growth in U.S. residential space is a direct result of Bed & Baths expansion and expansion of its business in the states.
In New York, the company has an office on the first floor and a two-story retail space on the second floor.
The company plans to expand its presence in more markets and to open additional retail locations.
This year is also Bed and Beds’ largest expansion to date.
The New York market was home to a record 10,000 units.
Bed & Beds says this year it will be adding more than 10,500 units to the market.
The expansion is also expected to drive down the company’s annual net sales by more than $500 million.
To read more about Bed and Ales, visit www.bedandbaths.com and www.facebook.com/BedandAles.