Mobile accounts for more than 20% of Evine Live’s sales
May 26, 2016 03:38 PM
Sales completed on mobile devices account for more than one out of five sales for TV and web merchant Evine Live Inc.
Evine Live interim CEO Bob Rosenblatt told analysts on the retailer’s Q1 2016 earnings call that online sales accounted for 48.8% of revenue during the quarter ended April 30, or $81.4 million, up 13.7% from $71.6 million last year, when e-commerce accounted for 45.2% of overall revenue.
Growth was most pronounced on the mobile side of the business, with Evine Live reporting mobile accounts for 45.6% of online sales, or $37.1 million. That’s up 30.9% from $28.4 million last year, when mobile accounted for 39.6% of e-commerce sales. Not only is mobile growing faster than online and total sales, it represents a greater portion of Evine Live’s revenue. Sales completed through mobile devices account for 22.3% of Evine Live’s total sales, compared with 17.9% a year ago.
“Digital continues to be a high-growth channel for us and we believe that this digital penetration will ramp even faster as we track more customers that are comfortable using smartphones and other touch-screen devices as a shopping medium,” Rosenblatt told analysts on the retailer’s Q1 2016 earnings call, according to a transcript from Seeking Alpha.
Rosenblatt also told analysts on the call the company has enlisted executive search firm Korn Ferry to help it find a new CEO. Rosenblatt said on the call that he is among the candidates being considered for the position. “The most important thing is to get the appropriate candidate aboard, and I think it's pretty safe to say that my name is in the hopper going forward,” he said.
Evine Live, No. 115 in the Internet Retailer 2016 Top 500 Guide, has made a number of executive changes in the past year. On Monday, the company named home shopping veteran Michael Henry as its new chief merchandising officer, a role that has been open since March. Last month, the company took the interim tag off of chief marketing officer Nicole Ostoya’s job title, making her position permanent. In February, CEO Mark Bozek and chief strategy officer Russell Nuce left the company. Bozek was replaced on an interim basis by Rosenblatt, who had been chairman of the board, while the company has not named a replacement for Nuce.
For the fiscal first quarter ended April 30, Evine Live reported:
- Net revenue of $166.9 million, up 5.3% from $158.5 million last year.
- A net loss of $4.9 million, compared to a net loss of $4.7 million.