In its second-largest acquisition, Amazon buys the company for $970 million.
Third quarter e-commerce sales drop 3.4% to $2.8 million.
World Wrestling Entertainment Inc.'s e-retail arm, WWEShop.com, saw revenue dip in the third quarter ended Sept. 30. The result is less dramatic than the 25.6% decline in web sales the company had during the third quarter last year.
For the third quarter of 2010, the company reported:
- Web sales were $2.8 million, down by 3.4% from $2.9 million for the same quarter a year ago.
- Total revenue declined 1.5% to $109.6 million from $111.3 million a year ago.
- Orders placed on WWEShop.com increased 7% during the quarter to approximately 59,000, but average order value declined 8.8% to $46.04 from $50.46 a year ago.
- Digital media revenue fell 8.1% to $6.8 million from $7.4 million a year ago.
“In the third quarter, our results reflected the company’s continued focus on optimizing business results in a difficult environment. We believe our ongoing talent transition and the sluggish economy were important factors in these declines,” says Vince McMahon, chairman and CEO of World Wrestling Entertainment.
Internet Retailer calculates that WWEShop.com accounted for 2.6% of net revenue during the third quarter, equal to a year ago.
For the first nine months of 2010, WWE also reported:
- Revenue for WWEShop.com was $8.2 million, down 11.8% from $9.3 million last year.
- Total revenue was $355.1 million, down 0.7% from $357.9 million a year ago.
- Digital media revenue, which includes WWE.com and WWEShop.com, declined 16.2% from $22.2 million a year ago to $18.6 million.
Internet Retailer calculates that WWEShop.com accounted for 2.3% of total sales during the first nine months of the year, down from 2.6% a year ago.
World Wrestling Entertainment is No. 424 in the Internet Retailer Top 500 Guide.