MINNEAPOLIS, MN--(Marketwired - Jul 1, 2013) - ValueVision Media, Inc. (
The Russell 3000® index measures the performance of the largest 3000 U.S. companies in the U.S. equity market. The Russell 2000 index is the small cap subset of the Russell 3000 index, which includes approximately 2000 of the smallest securities based on market cap and current index membership. Members of the Russell 2000 and 3000 Indexes are also included in the Russell Global Index®. Russell indexes are widely used by investment managers and institutional investors as benchmarks for passive and active investment strategies.
"Inclusion in the Russell 2000 Index reflects the continued progress we have made in transforming our business," said Keith Stewart, ValueVision's CEO. "We welcome the distinction and increased visibility provided by being added to the Russell indexes. The exposure should complement our efforts to transition, over the balance of this fiscal year, our consumer brand from ShopNBC to our new identity as 'ShopHQ -- Your Headquarters For All Things Shop.'"
About Russell Investments:
Russell Investments (Russell) is a global asset manager with $173.5 billion in assets under management across over 350 investment products. Russell U.S. Indexes have $3.9 trillion in assets benchmarked to them. More information, including a list of exchange-traded funds based on Russell Indexes, is available at www.russell.com.
About ValueVision Media, ShopNBC and ShopHQ:
ValueVision Media, Inc. is a multichannel electronic retailer that enables customers to shop and interact via TV, phone, Internet and mobile. The Company is transitioning its consumer brand from ShopNBC to ShopHQ over the remainder of fiscal 2013. ValueVision's television network reaches over 85 million cable and satellite homes and is also available nationwide on PCs, tablets and iPhone, Android and other mobile devices via live streaming at www.shopnbc.com (and ultimately www.shophq.com). The Company's merchandise categories include Home & Consumer Electronics, Beauty, Health & Fitness, Fashion & Accessories, and Jewelry & Watches. Please visit www.shopnbc.com/ir for more investor information.
This release contains certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements contained herein that are not statements of historical fact may be deemed forward-looking statements. 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; the general economic and credit environment; interest rates; seasonal variations in consumer purchasing activities; the ability to achieve the most effective product category mixes to maximize sales and margin objectives; competitive pressures on sales; pricing and gross sales margins; the level of cable and satellite distribution for our programming and the associated fees; our ability to establish and maintain acceptable commercial terms with third-party vendors and other third parties with whom we have contractual relationships, and to successfully manage key vendor relationships; our ability to manage our operating expenses successfully and our working capital levels; our ability to remain compliant with our long-term credit facility covenants; our ability to successfully transition our brand name; the market demand for television station sales; our management and information systems infrastructure; challenges to our data and information security; changes in governmental or regulatory requirements; litigation or governmental proceedings affecting our operations; significant public events that are difficult to predict, or other significant television-covering events causing an interruption of television coverage or that directly compete with the viewership of our programming; and our ability 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. You are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date of this announcement. 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.