QVC posts a 26% increase in U.S. web sales in 2011
February 24, 2012 04:50 PM
TV and web retailer QVC experienced a nearly 26% increase in e-retail sales in 2011, compared with a 6% increase in total sales for the same period, according to financial reports the retailer released yesterday. The new financials come as QVC says it has bought Send the Trend, an e-commerce operator that every month sends personalized accessories recommendations to shoppers.
For the year ended Dec. 31, Liberty Interactive, which operates QVC, No. 8 in the Internet Retailer Top 500 Guide, reported:
• Revenue for Liberty Interactive increased 7.6% to $9.61 billion from $8.93 billion in 2010.
• E-commerce revenue for QVC in the U.S. increased 25.6% to $2.16 billion from $1.72 billion in 2010. QVC doesn’t break out international e-commerce metrics.
• Total sales for QVC increased year over year 5.9% to $8.26 billion from $7.80 billion.
• Total sales for Liberty Interactive’s remaining e-commerce business, which includes Provide Commerce Inc., Backcountry.com Inc., Bodybuilding.com LLC, Celebrate Interactive Holdings Inc. and other subsidiaries, grew year over year about 18% to $1.3 billion from $1.1 billion.
• Net earnings of $965 million compared with net earnings of $1.93 billion in the prior year.
For the fourth quarter ended Dec. 31:
• Revenue for Liberty Interactive increased 6.2% to $3.07 billion from $2.89 billion in Q4 2010.
• E-commerce revenue for QVC in the U.S. increased 26.4% to $716.8 million from $567.3 million in Q4 2010.
• Total sales for QVC year grew over year 4.8% to $2.64 billion from $2.52 billion.
• Total sales for Liberty Interactive’s remaining e-commerce businesses grew year over year 17.8% to $430 million from $365 million in Q4 2010.
The company did not break out net earnings for Q4 in its quarterly earnings release.
In May, Send the Trend, raised $3 million from Battery Ventures, Founder Collective and other investors. Shoppers fill out profiles at SendtheTrend.com and then receive the monthly accessory offers. "We believe QVC’s strong track record in e-commerce paired with Send the Trend’s cutting edge use of customization and technology makes for a winning combination," a QVC spokesman says. "As a subsidiary of QVC, Send the Trend will continue to operate as a separate e-commerce site."