ShopNBC Q4 Sales Up

 

Fourth-quarter sales at ShopNBC were up more than 7% as the company surpassed the 1 million customer mark and saw its Internet sales show strong growth.

Revenues for the quarter $155.3 million, a 7.4% increase from the same period last year. The company’s e-commerce sales penetration was 39% of total sales in the quarter, up 690 basis points vs. last year. Net loss for the fourth quarter was ($8.8) million compared to a net loss of ($43.8) million for the same quarter last year.

Net sales for fiscal 2009 were $528 million, a decrease of 7% vs. the previous year. The company’s e-commerce sales penetration for the full year was 33.7%, up 170 basis points vs. last year. For the fiscal year, the company is reporting a net loss of ($42.0) million compared to a net loss of ($97.8) million in the prior year.

“The fourth quarter proved to be another positive step toward achieving sustained growth and profitability,” said Keith Stewart, ShopNBC’s CEO. “We surpassed the 1 million customer mark. Leading indicators across all fronts continued to trend in the right direction with our Internet business achieving industry-leading e-commerce sales penetration of 39%. As our merchandising strategies continue to take form and be well-received by the customer, we remain excited about the broadening appeal of our business.”