November 20, 2001, 12:00 AM

ShopNBC.com’s sales grow 200% in first nine months

ShopNBC’s web operation accounts for 12.9% of Value Vision Media’s nine-month revenue of $326 million. Q3 sales grew 117% over year ago.

Kurt Peters

Executive Editor

Third quarter sales at ShopNBC.com, the online arm of Value Vision Media’s ShopNBC TV shopping channel, grew 117% over last year’s third quarter, while consolidated sales grew 10%, Value Vision reported today.

For the nine months ended Oct. 31, consolidated net sales were $326 million, up 19% over the same year ago period. Internet sales were $42 million, a 200% increase over last year and now 12.9% of ShopNBC’s total revenue.

The network`s programming is simulcast live at ShopNBC.com and Yahoo.ShoppingVision.com.

"Despite a challenging economy coupled with some dramatic national and international events, we have laid a solid foundation for our business," said Gene McCaffery, chairman and CEO of ValueVision Media. "Our program distribution continues to grow. We have new programming to entertain our viewers with an expanded array of merchandise and nationally recognized brands. Marketing efforts to rebrand our network, which have been augmented by the launch of a ShopNBC credit card and Holiday Catalog, are going well and exceeding our expectations in some areas. All of this has positioned us well for the future."

 

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