Private investment firm Comvest Partners acquires the financially troubled e-retailer, which filed for Chapter 11 bankruptcy protection in March.
U.S. web sales for QVC increased by 22.7% to about $381.76 million.
QVC delivered a nice uptick in domestic web sales in the second quarter.
For the quarter ended June 30, QVC, No. 11 in the Internet Retailer Top 500 Guide, reported:
- U.S. web sales increased 22.7% to about $381.76 million from $311.04 million in the second quarter of 2009.
- Total sales increased 4.7% year over year to $1.758 billion from $1.679 billion.
- Total U.S. sales increased 3.6% to $1.193 billion from $1.152 billion in the second quarter of 2009.
- Total overseas sales increased 7.2% year over year to $565 million from $527 million.
“Our global e-commerce business grew 23% in the quarter, well ahead of the overall Internet sales index, as we continue to take share from both brick-and-mortar and e-commerce competitors,” says QVC CEO Mike George. QVC, a business unit of Liberty Media Corp., breaks out web sales for its U.S. business, but not for its international and total web sales.
Internet Retailer calculates the web accounted for 32% of QVC’s U.S. web sales in the second quarter compared with 27% in the prior year.
Liberty Media did not release full six month financials in its latest earnings release.