Evine Live’s Third-Quarter Sales Up 3 Percent, To $162.3 Million

Evive Live’s net sales were up 3 percent, to $162.3 million, a 3 percent increase in the third quarter versus last year, the home shopping network reported Tuesday.

That compared to QVC’s 4 percent revenue increase, to $1.4 billion, and HSN’s net sales rising 2 percent, to $590.6 million.

But it wasn’t a good quarter for the No. 3 home shopping network. Evine Live saw a $5.2 million net loss in the quarter, which sent its shares into a sell-off. The company also said that it had launched a spin-off channel, Evine Live Too, that offers a three-hour-delayed feed of its core network.


Evine Live’s online net sales as a percentage of total net sales increased 250 basis points to 46 percent.

Mobile remains the fastest-growing platform with net sales of $31.2 million, a 34 percent increase year-over-year.

The active customer count during the quarter increased 3 percent year-over-year, while reactivated customer count increased 4 percent.

Average purchase frequency increased to 4.1 units per customer, a 4 percent increase, while adjusted EBITDA was $200,000.

“We are pleased with our third-quarter results as the sales trends we experienced last quarter have continued,” Evine Live CEO Mark Bozek said in a canned statement. “We enter the holiday season with optimism in our merchandise assortment and growth strategies.”

Never one for brevity, here’s the rest of what Bozek had to say.

“Through a deliberate merchandising strategy launched just over a year ago, we’ve developed a more diversified product assortment of proprietary offerings with margins that are more in line with industry averages.”

“We believe improvements in our customer counts and average-purchase frequency are proof that our customers are responding positively to ‘more in our store.’ In addition, we believe our efforts to increase brand awareness and broaden our distribution footprint are important to driving incremental business in the fourth quarter and beyond.”

“With the changes we initiated a year ago to position the company for sustainable growth, we are seeing real continued momentum and, despite operating in a highly competitive retail environment, we remain confident that we’ve laid a solid foundation for top line growth and profitability in the fourth quarter.”

Home and consumer electronics was the fastest-growing category at 18 percent while all other categories, with the exception of jewelry, delivered growth of 3 percent to four percent.

The return rate  for the quarter was 18.9 percent, down 230 basis points year-over-year, a five-year low.

Gross profit decreased 5.3 percent to 5.3 percent to $55.9 million. gross profit as a percentage of sales decreased 310 basis points to 34.5 percent, due in part to reduced margins in jewelry and margins.




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3 Responses to “Evine Live’s Third-Quarter Sales Up 3 Percent, To $162.3 Million”

  1. Manny Says:

    Stick a fork in this company. Bozek is and always was a fraud. Why anyone thought this guy had any business acumen is beyond many. My thoughts are with the poor employees of Value Vision who have suffered yet again under a regime of incompetence and scavengers that pick at the remaining bones of this company. Hopefully this guy will be fired but I doubt it as he has stacked his Board with cronies of uniquely incompetent friends.

  2. Twat Waffles Says:

    If you notice during the putrid Incrapta watch shows they have been intermingled with regular product to keep the people from changing the channel.

    On a funny note I crapped my pantaloons with laughter after watching Eswine bring in a customer on camera during the watch shows wearing a watch the size of soup bowl and talking how wearing a hub cap sized mass produced Chinese piece of crap exudes class and success.


  3. Darachian Says:

    amazing that retreads that have failed before and were never suited to be CEO let alone business men and leaders politic themselves back into positions to ruin another company not to mention the innocent employees who work there. Bozek some how hoodwinked Barry Diller many years ago (many have) and have made a career of fooling other as to his abilities. The results speak for themselves. He’s a great actor but a terrible leader and businessman, hopefully someone recognizes that before everyone loses their job not just him.

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