ValueVision posts $1.4M loss

ValueVision Media Inc., better known as television and online luxury goods retailer ShopNBC, lost $1.4 million, or 4 cents a share, in the fourth-quarter.

Revenue was $178.8 million.

The company lost $25.9 million, or 78 cents a share, for the fiscal year that ended Jan. 29, on revenue of $562.3 million.

ValueVision has been attempting a turnaround under CEO Keith Stewart, whose goal is to grow it into a $1 billion enterprise within five years.

The company has been trailing competitors QVC and HSN. In December, the Eden Prairie-based company raised $17 million through an additional offering of common stock.

"We are now turning our full attention to driving top-line growth through a more diversified base of merchandise categories and broader product selection," Stewart said in a statement.

The company expects "some quarterly variability in our operating performance," he said.