The web grows 16% in the U.S. for QVC
Overall sales for Liberty Interactive grew 5.4% in the second quarter.
, Research Director
It’s pretty clear that when QVC looks forward its see a future that’s propelled by e-commerce. That trend is evident in the numbers and executive comments QVC’s parent company, Liberty Interactive Corp., offered up for its second quarter financial performance.
For the quarter ended June 30, Liberty Interactive, No. 7 in the 2012 Internet Retailer Top 500, reported:
- Revenue for Liberty Interactive increased 5.4% to $2.36 billion from $2.24 billion in the second quarter of 2011.
- U.S. web sales for QVC increased year over year 16% to $499.2 million from $430.5 million. The company does not break out international web sales.
- Total sales for QVC increased 4.2% to $1.97 billion from $1.89 billion in the second quarter of 2011.
- U.S sales for QVC increased 4.1% to $1.28 billion from $1.23 billion in the second quarter of 2011.
- International sales for QVC increased 4.2% to $694.0 million from $666.0 million in the second quarter of 2011.
- The web accounted for 39% of QVC U.S. sales compared with 35% in the second quarter of 2011.
- Total sales for Liberty Interactive’s remaining e-commerce business, which includes Provide Commerce Inc., Backcountry.com Inc., Bodybuilding.com LLC, Celebrate Interactive Holdings Inc. and other subsidiaries, grew year over year about 12.7% to $391.0 million from $347.0 million.
- Net earnings of $249.0 million compared with net earnings of $269.0 million in the prior year.
“QVC's performance was driven by another strong quarter of e-commerce and mobile purchasing, a trend that continues to accelerate across our global markets," says QVC CEO Mike George. "Our customers are embracing QVC's unique digital shopping experience, fueled by great values on distinctive products across each of our growing platforms."
For the first two quarters Liberty Media didn’t break out year-to-date metrics for QVC and its other e-commerce businesses, but did report:
- Revenue for Liberty Interactive increased 6.1% to $4.67 billion from $4.40 billion in the second quarter of 2011
Net earnings of $354.0 million compared with net earnings of $668.0 million in the prior year.