May 21, 2002, 12:00 AM

ShopNBC.com’s sales soar 72% over a year ago to a record $22.7 million

Sales at ShopNBC.com were 17% of ValueVision’s sales in the first quarter. ValueVision will further boost Internet sales through a new strategic initiative with AOL.

First-quarter net sales at ValueVision Media’s ShopNBC.com rose 72% to $22.7 million over last year’s first quarter, the company reports, driving 17% of ValueVision’s sales for the quarter. Total consolidated first-quarter net sales for ValueVision Media, which owns and operates the converged ShopNBC-TV and ShopNBC.com, were a record $132.8 million, up 19% over a year earlier. EBIDTA for the quarter was $5.3 million, up 34% over the year-ago quarter.

“We are beginning to better leverage the strategic advantage of being a commerce channel with the NBC family,” says Gene McCaffrey, ValueVision Media chairman and CEO. McCaffrey adds that ValueVision will build on Internet business already established by ShopNBC.com in conjunction with ShopNBC-TV with a number of new initiatives this year, including one with America Online Inc.

Under that project, ShopNBC will become one of the first retail participants in the expanded “AOL Deal of the Day” program. Under the agreement, Shop NBC merchandise will be promoted on Shop@AOL in the jewelry, watch and computer categories. AOL will be promoted as Shop NBC’s preferred Internet service provider on selected computers marketed on ShopNBC.com, in its call centers and on cable TV programming. In addition, ShopNBC-TV will host “The AOL Shopping Hour,” debuting later this year, which will showcase products of various key merchants on AOL to a TV audience of 52 million homes.

 

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