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QVC U.S. posts solid 1Q

Retail Editor 4 -- Home Textiles Today, May 8, 2012

Englewood, Colo. - Direct to consumer retailer QVC's U.S. division saw first quarter sales rise 4% to $1.2 billion as average selling price and gross margin also increased.
Liberty Interactive - parent company of QVC's television and ecommerce operations in the U.S., UK, Japan, Germany and Italy - said the increases were largely driven by a shift in the mix to apparel.
In the U.S., ecommerce revenue as a percent of total revenue grew to 39% during the quarter ended March 31. The division's operating income rose 8% to $171 million.
For the total company, sales rose 7% to $2.6 billion and operating income jumped 21% to $213 million.

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