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quote.bloomberg.com.
Shop At Home Plans Internet Expansion and Online Partnerships
Shop At Home Plans Internet Expansion and Online Partnerships
Nashville, Tennessee, Feb. 8 (Bloomberg) -- Shop At Home Inc., the third-largest U.S.
home-shopping specialty retailer, will announce Wednesday it plans to expand on the
Internet and form partnerships with major online companies.
Shop At Home, which sells merchandise such as electronics, jewelry and sports
collectibles on television and online, will use its network of broadcast and satellite stations
and the Internet to reveal details of its Web plans, amid demand for Internet stocks like
Amazon.com Inc. and eBay Inc.
The Nashville, Tennessee-based company's Shop At Home network reaches about 60
million homes each day, broadcasting over 200 television stations, cable systems and
satellite networks. ''The company has assured me that the partners are 800-pound gorillas
in the Internet industry,'' said money manager John Ray, president of Legacy Asset
Management Inc. in Atlanta, which owns Shop At Home shares. ''Shop At Home knows
broadcasting, on-air talent and marketing. They need someone who has real Internet
expertise.''
The company also will announce second-quarter earnings. Shop At Home is expected to
earn 1 cent a share for the quarter ended in December, based on the average estimate of
three analysts surveyed by First Call Corp.
Shop At Home shares rose 2 3/8 to 27 1/2 in midafternoon trading of 3.95 million shares.
Earlier, shares touched a record high of 27 3/4.
On Jan. 28, the company said it would announce its Internet expansion plans on
Wednesday at 7:30 a.m. New York time, causing the shares to more than double since
then
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