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Evine, the former ShopHQ, posts a moderate bump in annual web sales

March 18, 2015 10:33 AM
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Evine Live Inc., the Minneapolis TV and web retailer formerly known as ShopHQ and before that ShopNBC is reporting moderate e-commerce growth for 2014.

For the year ended Jan. 31, Evine, No. 106 in the Internet Retailer Top 500 Guide reported:

  • Web sales accounted for 44.6% of total sales compared with 45.2% in 2013. Based on those metrics, Internet Retailer estimates that web sales grew year over year 3.9% to $300.9 million from $289.5 million.
  • Total sales increased 5.3% to $674.6 million from $640.5 million in 2013.
  • Net loss was $1.4 million compared with a net loss of $2.5 million in the prior year.
  • The average ticket in 2014 was $67 compared with $81 in 2013, a decrease of 17.3%.
  • Return rate was 21.5% compared with 22.3%.
  • The company shipped about 9.1 million orders, up 26.4% from about 7.2 million in 2013. 

“We are pleased with the progress we have made in strengthening the organization and repositioning to a digital commerce company,” says CEO Mark Bozek. “We have begun a range of brand partnerships and digital commerce initiatives that we believe will help drive long-term sustainable growth in sales and profitability.” 

The TV shopping network and online retailer that has operated under the ShopHQ brand since mid-2013 rebranded itself as Evine Live earlier this month. For the 12 years before it became ShopHQ, the company did business as ShopNBC. Parent company ValueVision Media Inc. has also rebranded itself as Evine Live Inc. The company announced the brand and corporate transitions in November; the e-commerce site that was ShopHQ.com ported over to Evine.com during Valentine’s Day weekend. 

For the fourth quarter:

  • Web sales accounted for 46.1% of sales compared with 45.9% of sales in Q4 2013. Based on those metrics, Internet Retailer estimates that web sales grew year over year 4.5% to $92.7 million from $88.7 million.
  • Total sales increased 4.1% to $201.2 million from $193.3 million in the fourth quarter of 2013.
  • Net income was $3.3 million compared with a net loss of $1.5 million.
  • The average ticket in 2014 was $63 compared with $74 in Q4 2013, a decrease of 14.9%.
  • Return rate was 19.9% compared with 21.5%.
  • The company shipped about 2.9 million orders, up 20.8% from about 2.4 million in Q4 2013.
 

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