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Worksport Adds New U.S. Distribution in AutoAnything.com

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Among the largest online auto accessory ecommerce giants, Worksport Tri Fold already offered, many other products to follow

TORONTO, Nov. 19, 2019 — Franchise Holdings International Inc., (OTC: FNHI) (or the “Company”) Worksport Ltd.’s parent company, has begun selling its line of light truck covers on AutoAnything.com. Within the multi-billion-dollar market, AutoAnything is one of the largest and fastest-growing American online auto accessory ecommerce giants. The retailer has now offered the Worksport Tri Fold tonneau cover and will add additional Worksport products as they launch in the U.S.

“Our association with AutoAnything.com is part of a recent move to take a huge step forward with a greatly expanded U.S. footprint,” said Steven Rossi, Worksport and FHNI CEO. “Worksport is thrilled to be offered by AutoAnything, a highly regarded and respected U.S. auto accessory brand. We intend to work tirelessly to provide the highest level of product quality and customer service that is synonymous with AutoAnything’s reputation.”

Worksport management will work closely with the AutoAnything team to grow the Worksport brand as an innovative and well-built product for American consumer. Under the terms of the relationship, Worksport will stock and ship its products daily based on demand generated from the AutoAnything marketplace.

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About Worksport Ltd.
Worksport Ltd., a fully owned subsidiary of Franchise Holdings International. Inc. is an innovative manufacturer of high quality, functional, and aggressively priced tonneau/truck bed covers for light trucks like the F150, Sierra, Silverado, Canyon, RAM, and Ford F-Series. For more information please visit www.worksport.com

About Franchise Holdings International
Listed on the OTCQB Market under the trading symbol “FNHI” and currently in the process of a dual listing on a Canadian Stock Exchange, Franchise Holdings International’s strategy is to acquire business in the fastest growing business segments and to create shareholder value in the process. Once a business of interest is acquired, our mission is to further develop and accelerate the growth for all of our acquired subsidiaries. Currently the Corporation has one fully owned subsidiary, Worksport Ltd.

For further information please contact:

Mr. Steven Rossi
CEO & Director
Franchise Holdings International
.
T: 1-888-554-8789
E: Investors@franchiseholdingsinternational.com
Website: www.FranchiseHoldingsInternational.com

Forward-Looking Statements
This document may contain forward-looking statements, relating to Franchise Holdings International Inc. operations or to the environment in which it operates, which are based on Franchise Holdings International Inc. operations, estimates, forecasts and projections. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict, and/or are beyond Franchise Holdings Internationals Inc.’s control. A number of important factors could cause actual outcomes and results to differ materially from those expressed in these forward-looking statements. Consequently, readers should not place any undue reliance on such forward-looking statements. Franchise Holdings International Inc. disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. No Stock Exchange or Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

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Continues progress in the Automotive Market

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Ford News

Franchise Holdings International Inc., (OTC: FNHI), Worksport Ltd.’s parent company, is expecting a good year ahead, since its current, already beyond progressive business activities will be additionally magnified due to cooperation with Amazon.com  Inc. (NASDAQ: AMZN). FNHI announced on February 12th that it is adding a new distribution channel for its tonneau covers for light trucks by accessing Amazon’s wide marketplace. Worksport and FNHI CEO, Steve Rossi, said they are incredibly proud and excited about the agreement, which is expected to be finalized in the coming weeks.

Amazon.com, a $282 billion revenue company, will additionally open up the U.S. market for Worksport, which is offering innovative, high quality, functional, and aggressively priced tonneau/truck bed covers for light trucks such as Ford Motors’ (NYSE:F) F150, Sierra, Chevrolet’s (NYSE:GM) Silverado and Fiat Chrysler’s (NYSE:FCAU) RAM.

The potential of light trucks

In 2019 alone, light vehicles (cars and light trucks) sales came to approximately 17 million units, out of which 12.2 million were light trucks. Within top five best selling light trucks, Toyota Motor Company’s Tacoma (NYSE:TM) made it in 4th place, while the other four models were American made. The Ford F-Series was the best-selling light truck in the US, with almost 900 thousand units. Second place belongs to Chrysler Ram Pickup, and third place to Chevrolet Silverado.

Ford Motor Company holds the pickup truck throne

When choosing a pick-up truck, Ford F-Series is impossible to exclude due to years and years of being one of best selling light trucks. Most popular variant of the Ford F-Series (full-size pickup trucks) is the F-150. 14th generation of model F-150 is expected to be released in 2020.

Ford Motor Company is following the current ruling (on an interim basis) by U.S. trade panel, in favor of Korean electric vehicle (EV) battery maker LG Chem, which accused its rival SK Innovation of misappropriating trade secrets. SK Innovation is currently building a $1.7 billion battery factory in Georgia, whose products are supposed to serve Volkswagen (OTC:VWAGY)’s EV factory. SK Innovations is also considering to build another factory in Georgia, to supply Ford’s electric light trucks. The panel ruling may endanger SK Innovation’s import of materials and components needed as supply for U.S. factories. And FNHI’s solar patented technology can only further advance any company in the EV playground.

Amazon

Amazon’s expected revenue of $282 billion in 2019 came from 608 million packages (year average), which is equivalent to more than 1.6 million packages a day. This expected result is an increase comparing to 2018, when Amazon achieved $233 billion in revenues and net income of $10.1 billion. That is an expected increase of revenues of approx. 21%. And FNHI surely rejoices in the fact that Amazon is doing better than expected while its one-day deliveries continue to drive up sales.

Positive effects 

Steve Rossi believes selling products on Amazon will help Worksport’s revenue growth and also brand recognition. Positive effects are expected in the coming period of 12 to 24 months. Rossi also stated that Worksport will have the right to set the Minimum Advertised Pricing (MAP) and monitor the price once the agreement is signed. Worksport is already in process of stocking materially different cover models, which will be unique to Amazon, and therefore keeping the current dealers and distributors covered. This way, Worksport will protect both its present and new distribution channels. This will be another leap forward for Worksport, continuing the good trend from 2019, when three new U.S. patents were granted, which formed a great base for future developments. The expansion of Worksport’s, that is FNHI’s, intellectual properties portfolio, will enable the Company to bring more than just sun-powered light-truck tonneau covers, making it indeed a rare gem in the light truck industry.

This article is contributed by IAMNewswire.com. It was written by an independently verified journalist and is not a press release. It should not be construed as investment advice.

Press Releases – If you are looking for full Press release distribution contact: press@iamnewswire.com

Contributors – IAM Newswire accepts pitches. If you’re interested in becoming an IAM journalist contact: contributors@iamnewswire.com

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BenzingaEditorial

Cisco stock slightly drops as earnings barely edge over estimates

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Cisco Stock News

Cisco Systems, Inc. (NASDAQ: CSCO) reported its second fiscal quarter earnings with results slightly edging Wall Street estimates but offering weak guidance. Although Cisco’s stock has gained 5% during the last 12 months, that is still significantly lower than the 22% gain of the S&P 500. The reason for that may be the hesitation in customer spending due to macroeconomic uncertainty. Analysts are not seeing anything wrong here, and they are feeling positive about Cisco’s coming quarters.

Last quarter results

Revenues were $12.01 billion compared to $11.98 billion which was expected by analysts. However, that is still down 4% from last year. This had an effect on shares, so their price went down 6.4% to $46.72 at 11:03 a.m. Thursday. The stock gained 1.6% on Wednesday. Earning were 77 cents per share, excluding certain items, compared to 76 cents per shared, in line with analysts’ expectations. Cisco’s two main business segments achieved both 8% lower revenues over the year (Infrastructure Platforms $6.5 billion and Applications 1.3 billion).

For Cisco’s fiscal second quarter revenues, guidance range did see a decrease between 3% and 5%, so achieved 4% decrease came right in the center. Similar applies to adjusted earnings per share – guidance range was 75-77 cents: analysts expected 76 cents whereas Cisco achieved 77 cents per share. If we break it down for a more detailed view, we can see that revenue from products fell 6%, while revenue from services rose 5%. Having in mind that Cisco is a significant player in the networking-hardware industry, increase of service revenues is a good sign of adjustment and positioning in the cloud environment. And on the bright side, since services were up, gross margin was also up to 64.7%, while it was 62.5% in previous year.

Cisco in cloud

Cisco is positioned as the dominant player in the data center switch market. But the whole data center switch market suffers from slow or zero growth due to many enterprises and customers deciding to turn to cloud providers, so they can avoid associated infrastructure, management, and technical concerns. Cisco’s strategy lies in Cisco cloud providers, which are offering enterprise customers unique cloud solutions, whether the solution is public, private, hybrid, consuming services, or integrating multiple clouds together. Then again, the two largest players, Amazon (NASDAQ:AMZN) and Microsoft (NASDAQ:MSFT) are setting the bar quite high above clouds when it comes to this market. And the cloud war between the two is far from over as Amazon just managed to prolong the JEDI saga by having a judge suspend the contract from moving forward until the lawsuit is resolved. There’s no doubt that Amazon’s AWS is the leading cloud provider, but Pentagon saw more potential in Microsoft which is posting beyond strong growth in the recent quarters. So the JEDI wars are far from over!

Outlook

As for the expected results for the quarter ending in April, revenue decrease is expected to be continued for 1.5% to 3.5% compared to the year earlier. So, expected revenue should be within the range of $12.5 billion to $12.8 billion. Decrease is due to fact that orders were down with EMEA down 1% as it was mainly affected by a higher decrease in the U.K. public sector due to Brexit and the America segment down 8% while U.S. has a slightly smaller drop. In total, this is still an increase compared to the latest quarter (second fiscal quarter). Similar applies to profits as Cisco expects 79-81 cents a share on an adjusted basis. Quarterly non-GAAP gross margin is expected within a range 64.5%-65.5%.

As for the scary Coronavirus, Cisco’s CFO Kelly Kramer said that the possible impact of the outbreak was not really taken into account while deriving the guidance figures. Considering that Cisco relies on manufacturers located in China, there could be something to fear.

This article is contributed by IAMNewswire.com. It was written by an independently verified journalist and is not a press release. It should not be construed as investment advice.

Press Releases – If you are looking for full Press release distribution contact: press@iamnewswire.com

Contributors – IAM Newswire accepts pitches. If you’re interested in becoming an IAM journalist contact: contributors@iamnewswire.com

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BenzingaEditorial

Walking on Sunshine Is Good – But Earning on Sunshine is Good Too!

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Solar vehicles stock news

Due to consequences of environmental pollution and the climate change, the whole world is gradually switching to the renewable energy sources, marking a true era of energy revolution. Solar energy is in high demand all around the globe. The global solar energy industry has witnessed a significant growth over the recent decades all over the globe with massive potential yet to grow. Consequently, world’s solar energy companies are enjoying increasing demand and rising sales. And in business, there are always top players who are leading the way.

Industry glimpse

The International Energy Agency (IEA) estimated that the total global solar photovoltaic power generation will reach 1,121TWh by 2022. As for the world’s largest solar energy market both in terms of solar energy production and solar power consumption is China. As a matter of fact, IEA suggests that China’s rapid increase of 53 GW capacity in 2017 was the major contributor to the overall global solar energy capacity growth. In early 2018, China even surpassed its 2020 solar PV target outlined in its 13th Five-Year Plan. And since 2012, China’s share of global PV demand has grown from 10% to more than 55%. For this reason, many China’s major solar energy companies are also the world’s leaders in this market. But the global solar energy market size is being boosted by rising concerns of environmental pollution and provision of government incentives to install solar panels. And there are increasing investments in renewable energy sector, also contributing to market growth.

JinkoSolar Ltd

Headquartered in Shanghai, China, JinkoSolar (NYSE:JKS) is currently both one of world’s largest solar energy companies and top solar panel manufacturers. It sells its solutions and services to a diversified international utility all over the world. And It was just awarded the ‘Top Brand PV Europe Seal 2020’ by internationally recognized research institute EuPD Research for the second consecutive year.

Canadian Solar Inc

Moving on to a different continent, Canadian Solar (NASDAQ:CSIQ), headquartered in Ontario, Canada, is also one of the largest solar panel manufacturers in the world, providing advanced solar energy solutions.

Franchise Holdings International Inc

Now this is when things get really interesting as Franchise Holdings International (OTC:FNHI) is bringing the best of both worlds. The company is bringing solar power and technology to the auto market and announced this week that they will start selling their products on Amazon Inc (NASDAQ:AMZN). Speaking of technology which can change the course of the entire electric era that is upon us and led by Tesla Inc (NASDAQ:TSLA). Due to its innovative technology, accelerating revenue growth and innovative products is what this company is all about. Franchise Holdings International is the holding company of Worksport Limited, an innovative automotive tech company that literally reinvented Truck bed covers with Solar technology.

The miracle combo- Solar Energy, Electric vehicles, Pickup Truck sales and Pickup Truck Bed Covers

These are all growing markets which will only show accelerate growth over the combining years. By integrating solar technology within tonneau covers, Worksport (fully owned subsidiary of Franchise Holdings International) developed a solar power generating truck bed cover to have power on demand both for work and sport outdoor activity. But its true potential lies in extending the driving range of the fast growing global market of Electric pickup trucks.

And that brings us to…

Tesla’s Cybertruck is about to enter the market next year. Its controversial looks aside, the Cybertruck objectively has the features and specs that can disrupt the EV segment entirely.  Yet there are psychological barriers that work against the vehicle’s favor, and one of them may very well be Tesla’s reputation as a California-bred, Silicon Valley-based company that makes sleek, futuristic cars – read: not the tough kind. On the other hand, veterans like Ford Motor (NYSE:F), General Motors (NYSE:GM), and others have this factor on their side for their own upcoming electric trucks.

Giga Texas Could Solve Tesla’s Cowboy problem

Texas is a large market for pickup trucks as this vehicle is so popular in the Lone Star state. Texas accounts for about one of every six pickups sold in the United States and with one of the most popular vehicles in the country, this is nothing less of a goldmine that Tesla can tap into – provided it manages to appeal to consumers.

If Giga Texas does work out, it will be difficult for Texas’ regulators and truck buyers to not support the vehicle as it is already compelling enough with its specs, features, and price alone. Add by being built by American labour at the heart of pickup country, it could even become the symbol of the US’ next-generation of trucking.

And it could even open up the state to more of the Tesla’s vehicles as well.

But Texas aside, the demand for the Cybertruck has been impressive so far, with the company getting enough orders to correspond to several years’ worth of production.

Great news for FNHI

The International Energy Agency (IEA) forecasted for electric vehicles to grow from 3 million to 125-220 million by 2030. With companies as Tesla, Workhorse (NASDAQ:WKHS) and Volkswagen (OTC:VWAGY) developing electric pickup trucks, with others hopping on the electric vehicles train like Fiat Chrysler Automobiles’ JEEP (NYSE:FCAU), Range Rover, BMW (OTC:BMWYY), Mercedes, Audi and a bunch of other players around the globe, this is all beyond good news for Franchise Holdings International. The SEMA research shows that truck bed cover sales almost doubled in just 3 years time it means all product lines of Worksport will benefit from several growing markets.

Countless opportunities ahead for FNHI

The solar truck bed covers will benefit both from the very young and fast-growing electric vehicles market and the enormous and also fast-growing renewable energy market. Moreover, with different ways of implementing their technology through partnerships or licence deals in the future, there are countless more opportunities when it comes to these new innovative revenue sources.

And due to its admirable portfolio of intellectual property under its belt, investors can rest assured no company can go around FNHI. And the most reassuring thing at the end of the day is: you can always sleep well knowing that ‘the Sun will come out tomorrow’.

This article is contributed by IAMNewswire.com. It was written by an independently verified journalist and is not a press release. It should not be construed as investment advice.

Press Releases – If you are looking for full Press release distribution contact: press@iamnewswire.com
Contributors – IAM Newswire accepts pitches. If you’re interested in becoming an IAM journalist contact: contributors@iamnewswire.com

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