August 3, 2001, 12:00 AM

ValueVision’s web sales grow 225% in quarter; overall sales are up 17%

ValueVision’s web sales reached $14 million in the just-ended quarter, while overall sales reached $105 million. The company also authorized a share buyback.

Kurt Peters

Executive Editor

Internet sales for ValueVision International Inc., a retailer that sells via the web and interactive TV, are expected to total $14 million in the quarter that ended July 31, a 225% increase over the same quarter last year, the company reported today. ValueVision said it expects total revenue for the quarter to be $105 million, 17% over the prior year period. Confirmed orders carried over from July into the third quarter totaled $11 million, $9 million greater than a year ago, the company said.

"While the economic climate remains difficult and our performance this quarter is below expectations in some areas, we continue to achieve positive results overall,” said Gene McCaffery, ValueVision`s chairman and CEO. “Internet sales remain particularly strong, even exceeding our fourth quarter`s holiday period. While paying a short-term cost for rapidly growing FTEs, we will be well-positioned in the long run. We are also seeing significant improvement in our gross margins, and I believe this will continue to be a positive trend."

The company expects gross margins to be 39.5% in the second quarter versus 37.3% in the prior year.

ValueVision International owns and operates ShopNBC the nation`s third largest home shopping network. Its programming is simulcast live on the web at

The company will release its final second quarter results on August 28.

ValueVision International also announced that its board of directors has authorized the company to repurchase up to $25 million of its common stock over a period of time.



Sign In to Make a Comment

Comments are moderated by Internet Retailer and can be removed.

Not a member? Signup for free today!




Relevant Commentary


Jason Squardo / Mobile Commerce

Five tips for achieving high mobile search rankings

Searches on mobile devices will soon exceed those on computers, Google says. Retailers that keep ...


Sergio Pereira / B2B E-Commerce

Quill turns to its B2B customers for new ideas

Coming in April is a new section of that will let customers and Quill ...