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Q2 web sales easily outpace growth in total sales for ShopNBC
The Internet accounted for 46% of sales in the second quarter.
The Internet now represents nearly 50% of all sales for ValueVision Media Inc.—at least in the second quarter.
For the quarter ended July 30, ValueVision, which owns and operates ShopNBC.com, No. 84 in the Internet Retailer Top 500 Guide, reported:
- Web sales increased year over year 22.5% to $60.9 million from $49.7 million in the second quarter of 2010.
- Total revenue grew 4.7% to $132.1 million from $126.2 million in the second quarter of 2010.
- Net loss was $4.5 million compared to a net loss of $7.7 million in the second quarter of 2010.
- The average ticket in the first quarter was $105.0, up 8.2% from $97.0 in the prior year.
- The web accounted for about 46.1% of sales compared with 39.4% in the second quarter of 2010.
“We continued to lead the televised electronic retailing industry in driving sales via the Internet and mobile devices, which were up 23% versus last year,” says CEO Keith Stewart.
For the first two quarters:
- Web sales increased year-over-year 13.3% to $104.7 million from $92.4 million in the first two quarters of 2010.
- Total revenue grew 9.8% to $275.7 million from $251.2 million in the first two quarters of 2010.
- Net loss was $33.3 million compared to a net loss of $18.7 million in the first two quarters of 2010..
- The average ticket in the first quarter was $111.0, up 7.8% from $103.0 in the prior year.
- The web accounted for about 38.0% of sales compared with 36.88% in the first two quarters of 2010.
“Our national cable and satellite footprint increased by 4% versus last year to approximately 79 million,” says chief financial officer William McGrath. “This powerful mass distribution channel, which is heavily integrated into our Internet and mobile platforms, is a key differentiator of our business and driver of our long-term growth plan.”