Private investment firm Comvest Partners acquires the financially troubled e-retailer, which filed for Chapter 11 bankruptcy protection in March.
Domestic e-commerce sales for 2010 grew 20.3%.
The web now accounts for a full one-third of all U.S. sales for QVC, a unit of Liberty Media Corp.
For the year ended Dec. 31, QVC, No. 11 in the Internet Retailer Top 500 Guide, reported:
- Growth in U.S. web sales of 20.3% to $1.72 billion from $1.43 billion in 2009. QVC does not break out international e-commerce metrics.
- Total sales increased 6.1% to $7.80 billion from $7.35 billion in 2009.
- U.S. sales increased 5.4% year over year to $5.23 billion from $4.96 billion.
- Total overseas sales increased 8.0% year over year to $2.57 billion from $2.38 billion.
- The web accounted for 32.9% of U.S. sales compared with 28.8% in 2009.
For the fourth quarter, QVC also recorded:
- Growth in U.S. web sales of 18.9% to $615.6 million from $517.7 million in Q4 2009. QVC does not break out international e-commerce metrics.
- Total sales increased 4.1% to $2.52 billion from $2.42 billion.
- U.S. sales increased 2.4% year over year to $1.71 billion from $1.67 billion.
- Total overseas sales increased 6.8% year over year to $802 million from $751 million.
- The web accounted for 36% of U.S. sales compared with 31% in the fourth quarter of 2009.
“For 2010, we had some of the most balanced results across markets that we have seen in many years,” says QVC CEO Mike George. “Every established market increased revenue growth and achieved strong e-commerce growth and enjoyed growth in the count of new customers.”
Liberty Media also reported revenue for its e-commerce business, which includes Provide Commerce Inc., Backcountry.com Inc., Bodybuilding.com LLC and Celebrate Interactive Holdings Inc. and other units.
- For the year, sales increased 17.5% to $1.12 billion from $953 million in 2009.
- For the fourth quarter sales were up about 27.1% to $365 million from $287.1 million in the fourth quarter of 2009.