Digital commerce firm Evine Live Inc. posted second-quarter results in which earnings per share bested Wall Street’s estimates.
The company posted a net loss of $2 million for the three months ended July 30, or 3 cents a diluted share, compared with a net loss of $3 million, or 5 cents, a year ago. Net sales in the quarter slipped 2.4 percent to $157.1 million from $161.1 million.
Wall Street was expecting a loss of 4 cents on revenues of $166.3 million.
In the six months, the net loss narrowed slightly to 6.9 million, or 12 cents a diluted share, on a 1.4 percent increase in net sales to $324.1 million.
Chief executive officer Bob Rosenblatt said the company was able to improve its cash position and expand gross margin in part through an improvement in the merchandising balance and accelerations of the development of engaging brands that “our customers love.”
By category, the company said beauty grew 2 percent, followed by fashion at 1 percent, while jewelry and watches fell by 7 percent.