Q Talk

[Spurt]

Here it is folks the results from Libertyinteractive QVC's parent company and the results for the Fourth Quarter 2012.

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HERE'S THE NEWS-QVC's revenue increased 2% in the fourth quarter and 3% for the year. The fourth quarter and full year sales showed strength in home and beauty products and full year results also showed strength in apparel sales. FOR THE FOURTH QUARTER AND FULL YEAR THESE INCREASES WERE PARTIALLY OFFSET BY A DECLINE IN ELECTRONICS AND JEWELRY PRODUCT SALES. While this sounds good here's the reality....AVERAGE SELLING PRICE INCREASED 2% and UNITS SOLD DECLINED 1% COMPARED TO THE PRIOR YEAR. So it appears the increase was caused by an increase in price!!!!

The return rate was relatively flat compared to the prior year, for the full year average selling price increased 3% AND UNITS SOLD REMAINED FLAT. RETURNS AS A PERCENT OF GROSS PRODUCT REVENUE INCREASED 55 basis points due tro mix of products sold, namely apparel that returns at higher rates.

And I'm sure all QVC shoppers already knew this... OIBDA margin was also positively impacted by an improved gross margin as result of favorable net shipping and handling including warehouse productivity and a decrease in credit card processing fees due to change in US legistlation.

The news that WMC just loves to hear so be prepared for even more promoition for Facebook, mobile apps and QVC.com. Out of the total sales how much was ecommerce: ecommerce revenue increased 10% for the fourth quarter and grew from 43% from 40% of total U.S. net revenue. For the year ecommerce grew 12% to a total of 40% from 37% for the year. Second only to Amazon as a retailer. BUT OVERALL UNITS SOLD DECLINED 1%.

FOR QVC INTERNATIONAL-

Japan's revenue -grew 6%in local currency

Germany's revenue declined 3% in local currency

UK increased 3% in local currency

Italy fourth quarter sales growth of 44% (what is wrong with the Italians)

FOR FULL REPORT----

http://seekingalpha.com/news-article/5765631-liberty-interactive-corporation-reports-fourth-quarter-...