ShopNBC moves 19% of all sales to the web
Sales at ShopNBC.com reached $27.6 million in the third quarter, 19% of all Q3 sales of parent ValueVision Media, the company reported today. The company says web sales hit a Q3 record. Total revenue reached $144.3 million. Total sales are down 4% from last year’s Q3 sales of $150 million.
The company had a net loss in the quarter of $34.6 million vs. a net loss of $2.8 million a year ago. It recorded a $3.3 million charge related to staff reductions throughout the company.
The company also reported that new customers were up 17% over a year ago, unit volume was up 16% but the average price point, at $180, was down 20% from a year ago.
The company also reports a charge of $11.3 million related to long-lived asset impairments of FanBuzz, a wholly owned subsidiary, driven primarily by the loss of a major partnership contract.
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