The e-retailer reports a $126 million net loss, stemming from a $640 million year-over-year increase in spending in the quarter on technology and content ...
ShopNBC achieved its first $1 million day at ShopNBC.com at the same time it hit three $5 million days in a row on TV. The record sales came last weekend as part of ShopNBC’s celebration of the first anniversary of its name change to ShopNBC.
Minneapolis-based ShopNBC has achieved its first $1 million day at ShopNBC.com at the same time it hit three $5 million days in a row on TV, ShopNBC reported today. The record sales came as part of ShopNBC’s celebration of the first anniversary of its name change from ValueVision to ShopNBC.
The three record days came this past weekend, June 21-23, and follows by less than a week the first $5 million day in ShopNBC history, June 15.
"We are obviously pleased with our revenue growth," said Gene McCaffery, chairman and CEO of ValueVision Media, which owns and operates the shopping network. "We are experiencing the kind of performance that raises the bar for our organization as well as for our vendor and service partners. Our household distribution growth over the past few years in partnership with NBC Cable will continue to provide incremental opportunities going forward. Our evolving merchandise and marketing relationship with NBC will continue to provide unique commerce initiatives that will benefit both companies as we move through the balance of the year."
McCaffery also said the banner day at ShopNBC.com was no fluke. “We are proving through our association with NBC and previously announced initiatives, as well as a number of projects in progress, that convergence is real, and when executed correctly, is highly profitable,” he said.
ShopNBC also has reached agreement with NBC Enterprises and NBC Daytime to create "Soap Style" at ShopNBC, giving viewers the opportunity to purchase select merchandise that has appeared on the NBC Daytime stars and sets. It will debut July 27. The service also will provide exclusive information about soap stars and story lines.