Save E-mail

Send this URL to a friend:

* - Denotes a required field.
Your Name*
Your Email Address*
Friend's Name*
Friend's Email Address*
Subject*
Message*

Print

Englewood, Colo.--Revenues climbed 6 percent in the third quarter for multimedia retailer QVC, including 2 percent in the United States and 14 percent in international markets, the company reported Tuesday.

Total U.S. sales were $1.19 billion up from $1.16 billion in the third quarter 2010, led by a steady growth in sales of electronics, accessories, beauty and kitchen while jewelry sales declined. E-commerce sales grew 16 percent from $364 million to $422 million, increasing from 31 percent to 35 percent of total U.S. sales.

QVC’s average sales price was up 13 percent, from $48.30 to $54.49, but the number of units sold declined 7 percent. QVC reported that revenue from new customers was up 29 percent, its highest growth rate since 2009.

Overall, QVC’s revenue totaled $1.89 billion, up from $1.77 billion in the third quarter 2010. Online sales were up 25 percent to $247 million.

The retailer experience strong sales in Japan and Germany, where sales were up 4 and 8 percent, respectively. U.K. sales declined 4 percent while sales in Italy, a new market for the company, climbed 61 percent quarter-over-quarter.

“QVC continued to produce solid results in a challenging macroeconomic environment with particularly strong performance in Japan and Germany,” Liberty Interactive Corp. (previously known as Liberty Media Corp.) President and CEO Greg Maffei said. “We were very pleased to complete the split-off of Liberty Capital and Liberty Starz on Sept. 23, making Liberty Interactive a standalone company.”

The Wall Street Journal reports that the split was undertaken in part to focus more on QVC’s growing business, as well as the company’s other online retail businesses, Expedia.com and Tree.com.

During the quarter, Liberty Interactive reported that it purchased another 1.5 million shares of multimedia retailer HSN, bringing its ownership to 34 percent.

QVC ranks No. 6 on National Jeweler’s 2011 list of $100 Million Supersellers.