A discussion draft of the Online Sales Tax Simplification Act of 2016 is expected to be introduced in Congress soon.
World Wrestling Entertainment reports $108 million in revenue for Q3 2007, a 16% increase from $93.2 million in the same quarter of 2006. But its web store, WWEShop.com, recorded a 6.1% sales decline.
World Wrestling Entertainment Inc. reported $108 million in revenue for Q3 2007, a 16% increase from $93.2 million in the same quarter of 2006. Online sales at its main e-commerce store, WWEShop.com, declined 6.1% to $3.1 million in Q3 2007 from $3.3 million in Q3 2006, according to the company’s third quarter earnings report.
In the third quarter, the average order for WWEShop.com jumped to $53.58 from $50.05 in Q3 2006, but the number of orders declined by 9%, the company says.
For the nine months ending Sept. 30, 2007, e-commerce sales rose 16% to $10.9 million from $9.4 million during the same period in 2006, according to WWE, which is No. 304 in the Internet Retailer Top 500 Guide.
Revenue for WWE’s digital media segment, which comprises WWE.com and WWEShop.com, climbed 31% to $7.7 million compared to $5.9 million in Q3 2006. WWE.com carries DVDs, TV clips and other video products. WWEShop.com carries digital products as well as apparel, trading cards and other products. Digital media revenue represents 7% of the company’s total revenue in the third quarter. E-commerce sales made up 40% of digital media revenue in Q3 2007.
World Wrestling Entertainment’s net income for the quarter was $8.5 million, down 7.6% from $9.2 million in Q3 2006.