ShopNBC to expand home, narrows 1Q loss

Retail Editor 2, May 16, 2012

Minneapolis - Putting more emphasis on other departments as it makes consumer electronics a less critical category, Shop NBC will invest in people and inventory as it moves toward its goal of having home account for 45% to 50% of sales.
"This is a journey, not a wind sprint," Keith Stewart, ceo of parent company Value Vision, cautioned during this morning's quarterly conference call with investors.
The presence of home, beauty and fashion increased 990 basis points during the first quarter ended April 28, he noted.
In addition, ShopNBC has expanded its agreement to carry Macy's branded bedding, bath and housewares through 2014. The channel began carrying a curated selection of Macy's goods this past January.
Value Vision's net loss for the quarter narrow to $8.7 million to a net loss of $28.9 million in the year-ago quarter. Sales fell 4.9% to $3136.5 million.


Featured Video

Subscribe to
Home & Textiles Today eDaily
Receive the news you need to know about the trends in the industry delivered right to your inbox.


HTT digital edition

See the June 2017 issue of Home & Textiles Today. In this issue, we discuss how U.S, ports are gearing up for the future, and what to expect from second half trade shows. See details!