Private investment firm Comvest Partners acquires the financially troubled e-retailer, which filed for Chapter 11 bankruptcy protection in March.
QVC, a business unit of Liberty Media Corp., credits its revamped e-commerce platform and more exclusive deals as the prime reasons U.S. web sales increased 19.5% in Q3. The web accounted for 28% of QVC’s domestic sales.
QVC Inc., a business unit of Liberty Media Corp., credits a stronger e-commerce platform and more exclusive deals with companies such as Liz Claiborne New York as the prime reasons domestic web sales grew in the third quarter.
For the quarter ended Sept. 30, QVC reported:
- U.S. web sales increased 19.5% to $307.4 million from $257.2 million.
- Total sales increased 1.8% to $1.67 billion from $1.64 billion.
- U.S. sales grew 1.9% to $1.09 billion from $1.07 billion.
- The web accounted for 28% of QVC’s domestic sales compared with 24% in the prior year.
- Foreign sales increased 0.2% to $569 million from $568 million.
For the first three quarters of the year:
- U.S. web sales increased 11.1% to $930.1 million from $837.1 million.
- Total U.S. sales decreased 3.8% year over year to $3.29 billion from $3.42 billion.
- Total sales, including international revenue, decreased 5.4% year over year to $4.88 billion from $5.16 billion.QVC is No. 11 in the Internet Retailer Top 500 Guide, (a PDF version of the company’s financial and operating profile can be ordered by clicking on its name).