Shopping at home via television and the Internet must be picking up with the recovering economy. ShopNBC reports that its Q2 revenues were up 5.7% to $126.2 million. EBITDA improved, but was still a negative $1.9 million vs. a negative $5.7 million a year earlier.
The company noted that through its ongoing strategic initiatives it lowered its net average selling price to $97 from $112 a year ago, while increasing shipped units by 22%. Internet sales continued to increase, although TV still dominates, with E-commerce now accounting for 39.4% of total sales in Q2.
“We are pleased with our second quarter progress, reflecting another consecutive quarter of overall improved performance,” said CEO Keith Stewart. “Positive customer activity trends and strong gross margin rates, along with disciplined execution in merchandising and financial planning, helped drive the business on the top- and bottom-line. Going forward, we recognize there is still much work to be done. We continue to prudently manage our working capital while focusing on increasing the top line through improved merchandising strategies, aligning price points with consumer demand, and refining our customer outreach initiatives during the second half of the year,” he added.
