The city is broadening the reach of its 9% “amusement tax” to include streaming entertainment services like Netflix and Spotify.
The web retailer reports $7.1 million in Q3 online wedding supplies sales.
TheKnot.com saw third quarter web merchandise sales dip.
For the quarter ended Sept. 30, The Knot, No. 335 in the Internet Retailer Top 500 Guide, reported:
- Online merchandise revenue was $7.1 million, a 5.3% decline from $7.5 million in the prior year quarter.
- Total sales of $27.3 million, down year over year about 3.2% from $28.2 million.
- Net income was $1.1 million, up 42.7% from net income of $771,000 in the third quarter of 2009.
Internet Retailer calculates that web merchandise sales made up 26% of total revenue for the quarter, compared with 26.6% in the Q3 2009.
In August, The Knot launched a buying platform—WeddingChannel Deals—designed to offer local and national deals to the web retailer’s online audience of brides. The program will be expanding in early 2011.
Also in August, The Knot began a partnership with Wedding Paper Divas to sell their wedding stationery through The Knot Wedding Shop. The program is expected to introduce brides to the wedding shop earlier in the wedding planning process, and introduces a new product offering to The Knot’s personalized favors, gifts and wedding supplies, the company says.
For the first nine months of 2010, the company reported:
- Sales from web merchandise of $22.4 million, up by 8.2% from $20.7 million for the same period in 2009.
- Total revenue of $85.4 million, a 4.9% increase from $81.4 million in the prior year.
- Net income of $2.1 million compared to net income of $1.2 million through the first three quarters of 2009.
Internet Retailer calculates that web merchandise sales made up 26.2% of total revenue for the period, compared with 25.4% through three quarters of 2009.