March 24, 2010, 12:00 AM

Internet sales fall in 2009 for ShopNBC.com, but at a slower pace

Web sales for ValueVision Media Inc., owner and operator of ShopNBC.com, declined 1.8% in 2009.

Bill Briggs

Senior Editor

Internet sales in 2009 slipped for ValueVision Media Inc., which owns and operates ShopNBC.com, but not as much as in previous years.

For the year ended Jan. 30, ShopNBC, No. 87 in the Internet Retailer Top 500 Guide, recorded:

  • A drop in web sales of 1.8% to $177.9 million from $181.2 million in 2008. In comparison web sales declined year over year 16.8% from $217.9 million in 2007 to $181.2 million in 2008.
  • Total sales declined 7.0% to $527.8 million from $567.5 million in 2008.
  • The average ticket declined 38.6% to $108 from $176.
  • Net loss was $42.0 million compared with $97.7 million in the prior year.
Based on calculations by Internet Retailer, the web accounted for 33.7% of total sales in 2009 compared with 31.9% in 2008.

“I am encouraged by the continued progress made throughout the year to improve ShopNBC’s performance,” says CEO Keith Stewart. “While we are not providing guidance for 2010, we have clearly defined initiatives in place to further drive sustained sales growth, increased margins and predictable performance.”

ValueVision and ShopNBC didn’t break out quarterly web sales, but in the fourth quarter did report:

  • Total sales increased 7.5% to $155.3 million from $144.5 million in the final quarter of 2008.
  • The average ticket declined 30.9% to $96 from $139 in Q4 of the prior year.
  • Net loss was $8.8 million compared with $43.8 million in the fourth quarter of the prior year.
"The fourth quarter proved to be another positive step toward achieving sustained growth and profitability," says Stewart.

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