ValueVision’s Q4 web sales up 36%, total sales up 20%

Web sales at ValueVision Media Inc., operators of ShopNBC.com, grew 36% in the fourth quarter of FY 2005, reaching $48.16 million from $35.4 million a year ago and accounting for 23% of all sales, the company reports. A year earlier, the web accounted for 20% of total sales of $174.5 million. The company had net income of $3.4 million vs. a loss of $7.3 million a year earlier.

Net sales for the full fiscal year, which ended Feb. 4, 2006, were $691.9 million, an increase of 11% over the prior year. The company recorded a net loss of $16 million compared to a net loss of $57.9 million a year earlier. The net loss in 2005 includes a loss of $2.3 million related to the discontinued operations of Fanbuzz, an e-commerce services provider.

The company also reported:
-- Gross Margins improved by 2.2 percentage points, driven by merchandising rate improvements across Jewelry, Apparel, Cosmetics, Electronics and Home categories.
-- Net sales per home increased 13% over the prior year quarter.
-- Operating expenses as a percent of sales decreased to 34% from 38% in the prior year.