Reflectors are on sale in New York
New York City-based company Reflectors is selling reflectors at a record high, with sales topping $200 million for the first time in its history, according to a report Thursday from brokerage firm BlackRock.
The company, founded by New York businessman Joe R. Cohen, said the company’s shares jumped 13 percent Thursday after the company reported an average price of $2,400 for a reflector, which was the highest it’s been since its inception in 1999.
The reflectors have been a popular option for the city’s homeowners in recent years as the cost of replacing them has dropped in the face of rising energy costs.
“We have always been able to deliver a better quality reflector for homeowners, especially those with more than one-bedroom units, because they can easily be repainted and repaired,” Cohen said in a statement.
“Today we are announcing another significant milestone for reflectors in the New York market, as we continue to see an increase in demand and demand outpacing our capacity.”
The company also said it is in the process of revamping its manufacturing facilities in the state.