August 16, 2012, 4:30 PM

Web sales are up for the quarter but down YTD for ShopNBC.com

E-commerce grew 1% in Q2, but decreased 1% in the first six months.

Mark Brohan

Research Director

Lead Photo

The web grew but not by much in the second quarter for ValueVision Media Inc., which operates ShopNBC.com.

For the quarter ended July 28, ValueVision, No. 91 in the 2012 Internet Retailer Top 500 reported:

  • Web sales increased year over year 0.8% to $61.4 million from $60.9 million in the second quarter of 2011.
  • Total revenue grew 2.2% to $135.2 million from $132.3 million.
  • Net loss was $3.8 million compared with a year-ago net loss of $3.5 million.
  • The average ticket in the second quarter was $102, compared with $105.
  • The web accounted for about 45.4% of sales compared with 46.0% in the second quarter of 2011.

“We returned the company to growth in Q2,” says CEO Keith Stewart. “Recent customer service initiatives are also resonating with our shoppers, delivering an improved multichannel retail experience. Looking ahead, we continue to expect some variability in operating performance as our newer product categories continue to expand.”

For the first two quarters:

  • Web sales decreased year over year 1.0% to $124.1 million from $125.4 million in the first two quarters of 2011.
  • Total revenue declined 1.5% to $271.7 million from $275.7 million.
  • Net loss was $12.6 million compared with a year-ago net loss of $33.4 million.
  • The average ticket in the first half was $98, compared with $111.
  • The web accounted for about 45.7% of sales compared with 45.5% in the first two quarters of 2011.

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