In its press release the company said, “We expect continued revenue declines in the third and fourth quarters, but at a decreasing year-over-year rate, as we demonstrated in the second quarter compared to the first quarter.” This is an exciting time for us – I am encouraged about our growth plan and proud of our employees and vendors.” “It was a lot of smart, hard work performed by the team in a newly established entrepreneurial culture focused on execution. “Specifically, we just arrested a nine-month, $33 million year-over-year decline in adjusted EBITDA,” he said. “We began this turnaround journey in the first month of this quarter, and I’m proud to report we delivered as promised,” ShopHQ CEO Tim Peterman said in a canned statement. And net losses year-to-date are $32.1 million versus just $3 million in losses in the year-ago period, a sizable 930% change. Year-to-date, sales are down just over 14%, to $263 million, versus the same year-ago period. However, most earnings reports compare results to the same year-ago quarter, not the prior quarter. In fact ShopHQ, once called Evine, also saw a reduction in its net losses, which were $10.2 million, an improvement compared to the $21 million net loss in the first quarter. But the network pointed out that this was “an improvement compared to the 16% year-over-year decline in the first quarter.” 3, ShopHQ posted net sales of $131.5 million, a roughly 13% decrease year-over-year. The home shopping network tried to put a good spin on it, but figures don’t lie.įor the quarter ended Aug.

Late last month iMedia Brands Inc., the new name for newly renamed ShopHQ’s parent company, released its second-quarter results.

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