IAC’s retail division grows 2% in Q1
Retail sales at IAC/InterActiveCorp grew 2% to $787.6 million in the first quarter from $769.1 million in the first quarter a year ago, the company reports. IAC’s retail division consists of HSN and HSN.com, Shoebuy.com and Cornerstone Brands, online and catalog retailers of apparel and home furnishings. Total company revenue grew 10% year over year to $1.59 billion from $1.44 billion.
The retailing division had operating income of $40 million, down 11% from $44.9 million a year ago. Total company operating income was $93 million up 31% from $71.2 million a year earlier. The company’s net income reached $62.1 million, up 31.6% from $47.2 million a year ago.
IAC’s retailing division shipped 12.5 million units in Q1, down 1% from 12.7 million a year ago, at an average ticket of $59.49 vs. $58.72 a year ago. Its return rate was 18.3% this year vs. 17.7% a year ago. The Internet accounted for 30% of orders. HSN reached 89.8 million households, virtually unchanged from 89.4 million a year ago. It mailed 102.7 million catalogs, down 7% from 110.7 million a year earlier. IAC is No. 23 in the Internet Retailer Top 500 Guide.
IAC also owns Ticketmaster, which sold 35.9 million tickets in Q1, up 15% from 31.3 million a year earlier, producing sales of $2.07 billion, up 32% from $1.57 a year ago. IAC’s revenue from Ticketmaster was $309.9 million, up 26% from $245.7 million a year ago. Ticketmaster’s operating income was $64.8 million, up 10% from $58.9 million a year ago.
Revenue in IAC’s Media & Advertising division grew 43% to $168.1 million from $117.6 million, with an operating income of $10.5 million vs. a loss of $6.4 million a year ago. The unit includes Ask.com in the U.S. and Citysearch and Evite in the U.K.
Back...
