QVC Posts 4 Percent Revenue Gain In Second Quarter

sunshine45 — Thu, 09 Aug 2012 05:25:47 GMT

for those interested in how qvc is doing overall:

QVC Posts 4 Percent Revenue Gain In Second Quarter

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.

“QVC’s performance was driven by another strong quarter of eCommerce and mobile purchasing, a trend that continues to accelerate across our global markets,” QVC president and CEO Mike George said in a canned statement. “Our customers are embracing QVC’s unique digital shopping experience, fueled by great values on distinctive products across each of our growing platforms.”

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QVC Posts 4 Percent Revenue Gain In Second Quarter