Restructuring Costs Take Toll On ValueVision

Posted on August 23, 2007 by Chief Marketer Staff

ValueVision recorded a net loss of $5.4 million during second-quarter 2007, compared with a loss of $700,000 a year earlier. The Minneapolis-based firm, which operates a variety of consumer merchandise direct marketing operations, generated $190.6 million in sales during the quarter, up from $187 million a year ago. The quarter ended Aug. 4.

The company recorded more than $2 million in restructuring costs during the quarter, as part of efforts it hopes will generate savings of $10 million. On the positive side, ValueVision’s ShopNBC.com unit saw its fortunes rise 18% above second-quarter 2006’s level. During a 12-month rolling period, the company had 867,016 customers, up from 817,676 reported a year ago.

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