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ValueVision Appoints Multichannel Retail Veteran Annette Repasch as Chief Merchandising Officer(October 12, 2011)
MINNEAPOLIS, MN -- (Marketwire) -- 10/12/11 -- ValueVision Media, Inc. (NASDAQ: VVTV), a multichannel electronic retailer operating as ShopNBC (www.shopnbc.com), today announced the appointment of Annette Repasch, a multichannel retail veteran of 25 years, as the company's Chief Merchandising Officer. Ms. Repasch joined the company in May 2011 as Vice President of Softlines.
In her new role, Ms. Repasch will oversee the company's merchandising strategy and product development for all categories, including jewelry and watches, home and consumer electronics, beauty, health and fitness, and fashion and accessories.
Ms. Repasch has more than two decades of industry experience in product development, new business development and brand building. Prior to joining ShopNBC, she served as Senior Vice President and General Merchandise Manager (GMM) of Stage Stores, Inc. where she oversaw $800 million in ladies apparel sales. Previously, Ms. Repasch spent more than seven years at QVC (U.S.) as Vice President and General Merchandise Manager of Apparel & Accessories where she oversaw this $1.3 billion business segment, achieving double-digit improvements in sales and profitability each year. She has also held senior merchandising roles in both specialty and department stores, including Saks Inc., Lane Bryant and Bon-Ton.
"We are delighted about Annette becoming our CMO," said Bob Ayd, President of ShopNBC. "She has a proven track record of success and the ideal background to make the most of this new leadership role at the company. We look forward to her continued contributions by overseeing our merchandising strategy that is focused on broadening the product mix, optimizing our merchandise margins, recruiting high-profile national brands and further developing our proprietary brands."
"I'm excited about this new role and opportunity," said Ms. Repasch, Chief Merchandising Officer of ShopNBC. "In everything we do, it's all about the customer. As a multichannel electronic retailer, we are well-positioned to connect with today's consumer by offering them an entertaining and engaging shopping experience however they choose to interact with us. I look forward to further leveraging my experience and new insights to continue driving our business."
About ValueVision Media/ShopNBC
ValueVision Media, Inc. operates ShopNBC, a multichannel electronic retailer that enables customers to interact and shop via TV, Internet, mobile devices, Facebook, Twitter and YouTube. The ShopNBC television network reaches over 79 million cable and satellite homes, in addition to live nationwide streaming at www.shopnbc.com and iPhone and Android devices. ShopNBC merchandise is focused on Home & Consumer Electronics, Health & Beauty, Fashion & Accessories, and Jewelry & Watches. Revenues for the past 12 months were $587 million, 44% of which was via the Internet or mobile. Please visit the company's investor relations website at www.shopnbc.com/ir for this and other company information.
This release contains certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and accordingly are subject to uncertainty and changes in circumstances. Actual results may vary materially from the expectations contained herein due to various important factors, including (but not limited to): consumer preferences, spending and debt levels; interest rates; competitive pressures on sales, pricing and gross profit margins; the level of cable and satellite distribution for the company's programming and the fees associated therewith; the success of the company's e-commerce and new sales initiatives; the success of its strategic alliances and relationships; the ability of the company to manage its operating expenses successfully; working capital levels; the ability of the company to establish and maintain acceptable commercial terms with third party vendors and other third parties with whom the company has contractual relationships; changes in governmental or regulatory requirements; litigation or governmental proceedings affecting the company's operations; and the ability of the company to obtain and retain key executives and employees. More detailed information about those factors is set forth in the company's filings with the Securities and Exchange Commission, including the company's annual report on Form 10-K, quarterly reports on Form 10-Q, and current reports on Form 8-K. The company is under no obligation (and expressly disclaims any such obligation) to update or alter its forward-looking statements whether as a result of new information, future events or otherwise.
Investor / Media Relations:
ValueVision Media, Inc.
Norberto Aja, David Collins, Jennifer Neuman
Jaffoni & Collins
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