The city is broadening the reach of its 9% “amusement tax” to include streaming entertainment services like Netflix and Spotify.
Though overall sales growth was moderate, QVC Inc. is reporting a 31% increase in U.S. web sales for 2006 and 20.4% in Q4. In 2006, QVC’s U.S. web sales reached $1.09 billion from $835.2 million in 2005.
Though overall sales were moderate, QVC Inc. is reporting a 31% increase in U.S. web sales for 2006 and 20.4% in Q4.
In 2006, QVC’s U.S. web sales reached $1.09 billion from $835.2 million in 2005. In Q4 the TV and Internet retailer’s year-over-year sales rose to $352.9 million from $292.9 million. Overall the web accounted for 20% of all U.S. sales in 2006 and 22% in the fourth quarter.
QVC`s domestic revenue increased 4% during the quarter to $1.60 billion and 7% for the year to $4.98 billion. QVC`s total revenue, which includes international sales, increased 7% in the fourth quarter to $2.24 billion and 9% overall in 2006 to $7.07 billion.
“We are pleased with the overall performance for 2006,” says QVC CEO Mike George. “We had tough comparisons to the fourth quarter of 2005 and although the fourth quarter growth slowed in relation to the second and third quarter of 2006, we were able to produce results within guidance previously announced for Liberty`s Interactive Group.”
QVC is No. 14 in the Internet Retailer Top 500 Guide.