QVC U.S. Posts Solid 1Q
June 12, 2012-- Home Textiles Today,
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., U.K., Japan, Germany and Italy -said the increases were largely driven by a shift in the mix to apparel.
In the United States, 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.