ShopNBC/Macy's Alliance off to Promising Start

MINNEAPOLIS - Value Vision, the electronic retail company that does business as ShopNBC, said the partnership it launched with Macy's last month to offer the department store's house brand home textiles and cookware could be expanded.
     Speaking during last week's quarterly conference call, president Bob Ayd said: "As with any new business relationship, this is a test." He added, "I am generally pleased with it, and I expect to further build on it."
     The company is looking to broaden its home goods portfolio, in part to off-set the waning sales contribution it previously enjoyed from consumer electronics. ShopNBC's home department team is focused on expanding the breadth of product being offered, he said.
     For the quarter ended Jan. 28, the company reported a net loss of $8.3 million vs. a net loss of $1.4 million in the year ago quarter. Sales tumbled 17.4% to $147.5 million primarily due to slower sales in its consumer electronics business. For the full fiscal year, net loss was $48.1 million from $25.9 million in the previous fiscal year. Sales were relatively flat, down 0.7% to $558.4 million.

Home & Textiles Today Staff | News & Commentary

 Home Textiles Today is the market-leading brand covering the home and textiles markets, offering a comprehensive package of print and online products. Home & Textiles Today provides industry news, product trends and introductions, exclusive industry research, consumer data, store operations solutions, trade show news and much more.

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!