In its second-largest acquisition, Amazon buys the company for $970 million.
Total and international sales increased 4.6% and 3.5%, respectively.
The increase in U.S. web sales outpaced the growth in total revenue for TV and web retailer QVC in the first quarter.
For the quarter ended March 31, QVC, No. 8 in the Internet Retailer Top 500 Guide, reported:
- Growth in U.S. web sales of 16.4% to $428.4 million from $368.0 million in Q1 2010. QVC does not break out international e-commerce metrics.
- Total sales increased 4.6% to $1.83 billion from $1.75 billion in the first quarter of 2010.
- U.S. sales increased 3.5% year over year to $1.19 billion from $1.15 billion in the first quarter of 2010.
- Total overseas sales increased 7% year over year to $643.0 million from $601.0 million.
- The web accounted for 36% of all U.S. sales compared with 32% in the first quarter of 2010.
“QVC drove solid revenue growth against a challenging prior year comparison,” says QVC CEO Mike George. “Exceptional revenue growth from new customers and e-commerce, inclusive of mobile, in the U.S., Germany and the United Kingdom, are the leading factors in this quarter's performance.”
QVC’s parent company is Liberty Media Corp., which also broke out sales in the first quarter for its e-commerce business. That unit includes Provide Commerce Inc., Backcountry.com Inc., Bodybuilding.com LLC, Celebrate Interactive Holdings Inc. and other subsidiaries.
For the first quarter:
- Sales increased 21% to $324.0 million from $267.8 million in the first quarter of 2010.