For the third quarter, which ended Oct. 29, ValueVision reported a loss of $6.4 million, compared with a year-earlier loss of $5.8 million.  Per-share, the loss was 13 cents, versus 18 cents during the year-ago period, due to more shares outstanding.  Revenue increased 2.2% to $135.2 million.

ValueVision CEO Keith Stewart, commented in today’s earnings release:

…lower than expected Q3 net sales and adjusted EBITDA is a disappointing setback in our progress toward rebuilding the business. Third quarter sales were principally impacted by a sales shortfall of 20% in consumer electronics along with a greater than anticipated decline of 13% in sales of watches, which off-set double-digit sales gains and strong margins in our jewelry, home, health and beauty and fashion and accessories categories … We are focused on improving the consumer electronics business with specific action plans underway. This includes recruiting new talent and expanding its merchandising team as well as improving product and brand assortment. The number of new vendors across our other categories continues to grow, as our multichannel retail business presents an attractive sales platform to expand their business and brand visibility. We expect to further reinforce that trend with additional prominent brands, such as Brooks Brothers and Hartmann luggage, that will delight the customer and further differentiate ShopNBC.

Despite the poor quarter, ValueVision did note improvement in the form of double-digit sales gains and strong margins in its jewelry, home, health and beauty, and fashion and accessories categories.  ValueVision Media Press Release  Nov. 16, 2011