March 5, 2008, 12:00 AM

QVC.com turns in another $1 billion performance

QVC is reporting a 14% increase in U.S. web sales for 2007 and 20% in the fourth quarter. Overall the web accounted for 23% of all U.S. sales in 2007.

QVC Inc. is reporting a 14% increase in U.S. web sales for 2007 and 20% in Q4.

In 2007, QVC’s U.S. web sales reached $1.14 billion from just over $1 billion in 2006. In Q4 the TV and Internet retailer’s e-commerce sales rose to $385.5 million from $320.8 million in the fourth quarter of 2006. Overall the web accounted for 23% of all U.S. sales in 2007 and 20% in the fourth quarter.

QVC’s domestic revenue increased 4% during the quarter to $1.67 billion and 5% for the year to $5.20 billion. The company’s total revenue, which includes international sales, increased 4.4% in the fourth quarter to $2.33 billion and 4.6% overall in 2007 to $7.39 billion.

“Despite a soft retail environment, domestic revenue showed modest improvement over third quarter results,” says Mike George, president and CEO of QVC, which is No. 14 in the Internet Retailer Top 500 Guide. “We remain short of our revenue and operating cash flow objectives for the business, but have maintained our pricing integrity, choosing not to discount to drive sales.”

comments powered by Disqus

Advertisement

Advertisement

Advertisement

From IR Blogs

FPO

Jock Purtle / E-Commerce

What is your e-commerce business worth?

The founder of a merger and acquisitions consulting firm examines how e-retailers can know the ...

FPO

Adrien Henni / E-Commerce

Alibaba and Chinese e-commerce rivals target Russia

Besides Alibaba, Chinese e-commerce companies like LightInTheBox and DinoDirect are seeking deals to get goods ...

Advertisement