QVC’s 1Q Revenue Drops 3%, To $1.37 Billion

QVC saw its first-quarter revenue slide 3 percent, to $1.37 billion, compared with the year-ago period, its parent Liberty Interactive Corp. reported Wednesday.

Operating income was flat, at $202 million.

Home shopping networks, like all retailers, have been having a tough time. QVC honchos put a nice spin on the network’s results.

“We are proud the U.S. team delivered significant improvement in our sales trend,” QVC President and CEO Mike George said in a canned statement.

“While we recognize further gains are needed, our first-quarter results show tremendous progress from the second half of 2016. Our international business continued to generate strong results and we are very pleased with our outstanding margin gains in both segments.”

QVC suffered year-over-year declines in the home, jewelry, electronics and accessories categories, which were partially offset by gains in apparel and beauty.

Increases in operating income margin and adjusted OIBDA margin primarily reflect lower fixed costs, higher product margins, higher credit card income and customer service efficiencies.

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5 Responses to “QVC’s 1Q Revenue Drops 3%, To $1.37 Billion”

  1. Lil Says:

    Mikey, Mikey, Mikey, can’t you just get rid of more people… you seem really good at that. Could it be you had years to revamp the your retail format. Amazon is eating your lunch.. What a leader.

  2. Mammaberti Says:

    They need to get rid of Susan Graver! Omg she never shuts up and interrupts the hosts. I’m surprised anyone wants to work with her. When she comes on I switch ch. something wrong with her besides her clothes being funky and over priced!

  3. Abigail Says:

    Nothing there for me but the cooking shows, love the garden plants but live in a area they would never grow in, the ‘fashion’ they peddle is too weird, that homeless chic of Logo, Isaac always yapping about color while dressed like he’s a funeral director, the overpriced Denim and Company and way overpriced jewelry, I think sales will continue to go down.

  4. MaryAnn Sarabia Says:

    Ms Moss, any info about Jacque Gonzales leaving QVC? She posted it on FB today!! Tks!

  5. ann Says:

    Finally, Mike, what is the best piece of advice you ever received?
    The best advice I ever received, although it was more like a threat, was from my mother when I left for school. She told me, “Whatever you do, whatever you become, never forget where you came from.”
    Her advice may sound corny, but I’ve never forgotten it. I remember my parents’ financial difficulties and the struggles with drug and alcohol abuse that ran through our family.
    I have so much respect for all of our team members who work so hard to make ends meet, take care of their families, and make a difference every day. So I try to think through every decision we make from the lens of those packing the boxes at our Rocky Mount facility or working in our contact center in Chesapeake, and how it will impact them.

    Hey Mikey remember saying this in a recent interview, how does ruining all the futures of you employees by laying them off and shipping their jobs to Poland square with your Mother’s advice.
    I would think she would be ashamed of you.

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