National Jeweler Network

Financial Reporting

QVC: One-third of online orders now mobile

November 06, 2013

Englewood, Colo.--Multimedia retailer QVC’s online sales accounted for 41 percent of its total U.S. revenue in the third quarter, and one-third of those sales were made to customers shopping from mobile devices.

According to results released Tuesday by parent company Liberty Interactive Corp., QVC’s U.S. sales totaled $1.3 billion in the third quarter 2013, a 5 percent increase from $1.2 billion in the third quarter 2012. Operating income rose 10 percent from $173 million to $191 million.

U.S. e-commerce revenue increased 12 percent to $535 million and rose from 39 percent to 41 percent of total U.S. net sales. The company said that mobile accounted for 32 percent of all orders in the U.S. market.

Average selling price per unit was up 5 percent, from $55.21 to $57.88.

Total revenue for QVC, including its international operations, rose 4 percent on a constant-exchange-rate basis.

Sales totaled $1.92 billion in the third quarter 2012 as compared with $1.95 billion in the third quarter 2013. International sales were down 5 percent in the quarter.

“QVC had strong results in the third quarter, and marked great success in the growth of our global TV and digital platforms,” said QVC President and CEO Mike George. “We’ve expanded QVC’s audience reach to 290 million homes worldwide, and created new digital platforms that include the launch of toGather, our new social commerce platform. We’re delivering a unique shopping experience that is perfectly aligned with the megatrends that are reshaping the retail industry today.”