The web and mobile brightened up a gloomier Q2 for Evine
August 28, 2015 10:20 AM
E-commerce was a bright spot in an otherwise tough second quarter and first half of the year for TV and web merchant Evine Live Inc.
For the second quarter ended Aug. 1, Evine, No. 118 in the Internet Retailer 2015 Top 500 Guide reported:
- Web sales increased 8.5% to $73.9 million from $68.1 million in the second quarter of 2014.
- Total sales increased 2.9% to $161.1 million from $156.6 million.
- Net loss was $3 million compared with a net loss of $4.3 million.
- The web accounted for 45.9% of total sales compared with 43.5% in the prior year.
- Mobile commerce sales increased 41.0% in the quarter to $31.3 million from $22.2 million and now account for 42.4% of all web sales.
“Our online sales grew to approximately 46% of total sales,” CEO Mark Bozek told Wall Street analysts, according to an earnings call transcript posted on SeekingAlpha.com. “Mobile sales continue to make up a large percentage of our online sales.”
For the first six months:
- Web sales increased 4.2% to $145.7 million from $139.8 million in the first two quarters of 2014.
- Total sales increased 1.0% to $319.5 million from $316.3 million.
- Net loss was $7.8 million compared with a net loss of $3.8 million.
The web accounted for 45.6% of total sales compared with 44.2% in the prior year period.
Evine did not break out sales from mobile devices for the first half of the year.
“As we addressed a number of the challenges we faced in the first quarter, we are seeing momentum in our continued efforts to reposition Evine by introducing more merchandising variety with new emerging brands that are generating revenue across our multiple platforms, especially mobile,” Bozek told analysts.
The TV shopping network and online retailer that has operated under the ShopHQ brand since mid-2013 rebranded itself in March as Evine. 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.