Well QVC released it's 4th Quarter results (October, November, December and the Christmas season).......so how did they do?????????????
- Consolidated QVC revenue down 1% to $8.7 billion in 2016
- QVC International revenue in local currency increased in all markets in the fourth quarter
- QVC International revenue grew 3% on a constant currency(2) basis
- zulily revenue grew 14% to $1.5 billion(3) and operating loss was $152 million in 2016, driven by approximately $223 million of amortization of intangible
"Internationally, QVC continues to perform well, while domestically we are focusing on strengthening a few merchandise categories that have been weak," said Greg Maffei, Liberty Interactive President and CEO. "zulily finished the year strong and we took advantage of the stock pullback to repurchase $255 million of QVCA shares."
QVC GROUP - For the quarter, QVC Group's revenue decreased 3% to $3.1 billion, operating income was roughly flat at $384 million, adjusted OIBDA(4) decreased 2% to $610 million, net income decreased 16% to $188 million and adjusted net income(5) decreased 15% to $266 million. For the full year, QVC Group'srevenue increased 11% to $10.2 billion, operating income decreased 14% to $1.0 billion, adjusted OIBDA increased 3% to $1.9 billion, net income decreased 26% to $473 million and adjusted net income decreased 8% to $812 million.
"Our international segment generated strong results in the quarter with broad-based sales gains and margin expansion," said QVC president and CEO Mike George. "The sales trend in our US business persisted from the third quarter primarily due to continued headwinds in select categories. We have strong action plans in place and are confident in our ability to return the US business to growth."
As we begin 2017, we are serving a large, engaged customer base, and we are creating competitive advantages as we further extend our reach across digital and next generation commerce platforms. We will leverage these strengths to build on our highly differentiated shopping experience."
QVC's consolidated revenue decreased 5% in the fourth quarter to $2.7 billion and decreased 1% to $8.7 billion in 2016
QVC's US revenue decreased 7% to $1.9 billion in the fourth quarter and 2% to $6.1 billion in 2016. In the quarter, average selling price per unit ("ASP") decreased 8% to $56.78, units sold increased 1%, and returns as a percentage of gross product revenue improved 32 basis points. The US experienced year-over-year declines in all categories except apparel. For the year, ASP decreased 6% to $57.00, units sold increased 2%, and returns as a percentage of gross product revenue improved 104 basis points. The US experienced declines in jewelry, electronics and beauty, which were partially offset by gains in apparel, home and accessories.
QVC's international revenue was flat at $711 million in the fourth quarter and increased 3% to $2.6 billion in 2016. The quarterly revenue performance included the net impact of unfavorable exchange rate fluctuations. On a constant currency basis, international revenue increased 3% in the quarter, reflecting gains in all markets. Units sold and ASP in constant currency each increased 1% in the quarter. QVC Internationalexperienced growth in all categories except apparel and jewelry. For the full year, international revenue on a constant currency basis increased 3%. Units sold increased 3% and ASP in constant currency was flat. QVC International experienced gains in all categories except apparel and jewelry for the full year.
http://ir.libertyinteractive.com/releasedetail.cfm?ReleaseID=1014970
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