In its second-largest acquisition, Amazon buys the company for $970 million.
Lee Goehring also helped manage consumer electronics at Best Buy.
ValueVision Media Inc., which operates multichannel retailer ShopNBC, has hired a director of consumer electronics.
Lee Goehring had been a vice president at Technology Resource Group, a firm that manages relationships between retailers and suppliers. He previously worked for Target Corp. as a senior buyer for the electronics category and for Best Buy Co. in a similar role. Target is No. 23 in Internet Retailer’s Top 500 Guide. Best Buy is No. 11. ShopNBC.com is No. 91.
"His extensive experience, proven track record and industry contacts will be an important component of strengthening the consumer electronics segment over the long term,” says Bob Ayd, president of ValueVision.
The consumer electronics category has been a challenging one for ShopNBC of late. In reporting its fourth quarter earnings, ValueVision primarily blamed a downturn in consumer electronics sales for a drop in net sales. Sales in the fourth quarter totaled approximately $148 million, a decline of approximately 18% from $180.5 million in the fourth quarter of 2010.
The company also said it expected challenges in consumer electronics sales to continue in the near-term. “I am disappointed with our fourth quarter sales, which were principally impacted by a sales shortfall in consumer electronics,” said ValueVision CEO Keith Stewart, at the time.