Who loves you, baby? What other nut would be blogging about home shopping on a Saturday night?
We took a gander at the transcript of the fourth-quarter conference call that QVC’s parent, Liberty Interactive, held Friday. There must a couple of interesting tidbits, including some new jewelry “designer brands” coming to QVC. Do tell!
Here are some of QVC CEO Mike George’s comments, from the Seeking Alpha transcript.
We continue to see strength in our fashion, home décor and fitness businesses in the U.S. In fashion, we had great success with proprietary designer brands such as Lori Goldstein and Isaac Mizrahi Live! We also experienced strong performance in accessories driven especially by designer footwear, and we’re seeing great strength in the fitness wearables category with Garmin and Fitbit.
Consumer electronics was up slightly with the rebound in computers, audio and cameras, and we sold a lot of drones and introduced new brands like GoPro, Amazon Echo and Microsoft Surface. That said, we do remain highly cautious about the long-term outlook for the consumer electronics category.
Jewelry continued to be soft due to weakness in our gold business. We’re refocusing our assets into better performing categories such as private label Diamonique and Affinity and we’ll be adding a number of new designer brands in 2016.
What else is up for this year?
I think as we look at 2016, I think what we’re mostly encouraged by is – and this was kind of a trend in 2015 that I think continues is a fairly broad based health across the categories.
And so, we’re not – we don’t feel like we’re overly dependent on one or two categories to drive growth, and I think we can have a fairly balanced profile. The two ‘watch-outs’ continue to be jewelry and consumer electronics.
We are working hard to try to turn the jewelry business. I don’t know that we’ve cracked the code yet, but we’ve got a number of new designers we’re introducing as well as sort of a step up in our proprietary brand.