ValueVision Ends Fourth Quarter, Year on Strong Note
ValueVision Media Inc. ended its fourth quarter with $3.4 million in net income on $216.7 million in sales, compared with just under $3.4 million in net income and $209.4 million in fiscal fourth quarter 2005. For the year, the Minneapolis-based general merchandise direct marketer reported a net loss of $2.7 million, compared with a net loss of $16 million in 2005. The quarter and the year ended Feb. 3.
The company offers a variety of products through television, the Internet and direct mail, as well as through its ShopNBC.com store. Much of the firm’s growth came within its online operations, which increased 26% over the year and now make up nearly 25% of its business.
ValueVision’s plans for 2007 include broadening its customer base through cross-channel television promotion and Internet marketing initiatives, according to the company.
