QVC Posts 4 Percent Revenue Gain In Second Quarter

Spurt — Sat, 11 Aug 2012 17:17:08 GMT

The No. 1 home shopping network, QVC, recorded a 4 percent increase in second-quarter revenue, to $1.23 billion, its parent Liberty Interactive Corp. reported Wednesday.

HSN last week also reported a 4 percent increase in second-quarter revenue, to $501.9 million.

QVC’s U.S. gross product revenue increased 5 percent as a result of strength in beauty, electronics and apparel products.

But that was reduced to a 4 percent increase overall due to an increase in second-quarter returns as a percent of gross product revenue of 117 basis points, primarily due to increased return rates in apparel, health, beauty and jewelry due to the mix of products within those categories, according to QVC.

Average selling price (ASP) for QVC items increased 5 percent from $52.02 to $54.84, while units sold remained flat compared to the prior-year second quarter

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QVC Posts 4 Percent Revenue Gain In Second Quarter