ValueVision Media Inc., the parent company of ShopNBC.com, is reporting higher web sales for the third quarter.
Overall, ValueVision, No. 57 in the Internet Retailer Top 400 Guide to Retail Web Sites, reported web sales of $35.1 million in the third quarter, up 22% from web sales of about $29 million in the previous year.
In the third quarter, the web accounted for 22% of total sales of $159.5 million, compared to Q3 2004, when e-commerce represented about 21% of total sales of $139.9 million.
"We are pleased with the significant improvement in our third quarter results,” says president and CEO William Lansing. “Sales for the quarter grew by 14% versus last year while we also improved our gross margins by 2.3 percentage points.”