February 15, 2002, 12:00 AM

The TV-web convergence: Internet sales boom at ShopNBC

Internet sales at ValueVision, owner of ShopNBC TV and web-based merchant, grew 121% in the fiscal year completed Jan. 31 to $62 million, ValueVision reported today. The web accounts for 13.4% of ShopNBC’s annual sales volume of $462 million.

 

Internet sales at ValueVision, owner of ShopNBC TV and web-based merchant, grew 121% in the fiscal year completed Jan. 31 to $62 million, ValueVision reported today. The web accounts for 13.4% of ShopNBC’s annual sales volume of $462 million. Internet sales accounted for 7.3% of ShopNBC’s $385 million in sales a year earlier. ValueVision reported the numbers ahead of its formal year-end report in March. The results are what ValueVision expects to report.

In the fourth quarter, Internet revenue reached $20 million, up 44% over Q4 the year earlier and 33% over the prior quarter. Internet sales were 14.7% of fourth quarter total sales of $136 million.

ValueVision says 43.9 million households can receive the ShopNBC programming, well ahead of where it had planned to be at this time.

For the coming year, the company expects revenue to be $540 million to $575 million.

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