Posts Tagged ‘QVC Japan’

QVC Appoints Fitzharris Chief Of QVC Japan

December 20, 2015

Those QVC honchos are busy even during the holidays.

They have named Mike Fitzharris CEO and representative director of QVC Japan. He will be responsible for overseeing QVC’s operations and growth in Japan and report to Steve Hofmann, president of QVC International.

“Since its launch in 2001, QVC Japan has successfully developed and implemented strategies to become a leader in multimedia shopping, with a focus on providing great customer value and service,” Hofmann said in a canned statement.

“Mike has consistently demonstrated an ability to lead and inspire teams across cultures, and has the experience needed to drive customer loyalty, contribute to and execute enterprise strategy and build brand awareness.”

Prior to joining QVC Japan, Fitzharris served as Chief Operating Officer of QVC UK after rejoining QVC in April 2012, with responsibility for Customer Fulfillment Services, which include contact center operations, supply chain functions, warehousing and business intelligence.

Fitzharris began his QVC career in 1997, working across a number of areas before taking on the role of general manager of operations support.

“As QVC continues to expand globally, we are leveraging our worldwide talent and capabilities to drive collaboration and position the company for future growth,” QVC president and CEO Mike George said. “Mike is adept at driving innovation to achieve strong business results. His knowledge of global markets and commitment to excellence will position QVC Japan for continued success.”

John Thomas, who led QVC Japan since 2011 as the CEO and representative director, will remain chairman of QVC Japan. In addition, he has been appointed to serve as the vice chairman of CNR Mall, QVC’s joint venture operations in China with China National Radio.

“Throughout his tenure, John has maintained a clear focus on developing strategies to maximize our long-term position in Japan and in building an engaged and aligned team throughout the organization,” Hofmann said. “I am grateful to John for his tireless effort and countless contributions to the Japan business and will continue to rely on his expertise to drive our business forward as the chairman of QVC Japan.”

Thomas has played a key role in QVC’s global expansion for many years. He was the project leader for QVC’s entry into the Italian market in 2009 and through the launch of QVC Italy in 2010. He later led QVC’s global business development efforts and was appointed chairman of QVC Japan. He assumed the position of CEO and representative director in 2011.

QVC Promotes QVC Japan Executive John Thomas To CEO

September 2, 2011

QVC has promoted John Thomas to the position of chairman and CEO of QVC Japan, whose operation’s were impacted by the earthquake that wreaked havoc on that nation. His promotion is effective immediately, the home shopping network said Thursday.

Thomas has served as interim CEO since May and chairman of QVC Japan since 2009, building strong relationships with QVC’s Japan team. Thomas will continue in his chairman role in addition to his CEO responsibilities, and reports to QVC president and CEO Mike George.

“John is a seasoned executive who will lead our team to provide outstanding customer experiences and deliver strong business results,” George said in a canned statement. “John embodies our values and is a great culture fit with our Japan team. His pioneering spirit, commitment to excellence, and ability to collaborate effectively with our global team members will guide him as he takes on this new leadership role.”

Thomas joined QVC in January 2011 as senior vice president of Global Business Development. In this role, Thomas was responsible for developing QVC’s market expansion strategy, which included leading efforts to investigate markets, prioritize expansion plans, prepare detailed entry plans, and negotiate agreements with potential partners.

He also shared best practices and provided general project management support across all of QVC’s business markets for major facilities projects and headquarters expansions.

Thomas previously served as project manager for the launch of QVC Italy and oversaw the design and construction of the Milan headquarters.

As a consultant, he established close working relationships with QVC leaders as they established global growth plans, and helped guide the company’s developing network of global support systems.

Prior to joining QVC, Thomas served as the president and CEO of Global Marketing and Consulting Enterprises Inc. since 2000.

From 1997 to 2000, he was executive vice president of Samkoo Corporation of America, Samkoo System Integration L.C., where he managed the U.S. buying office for Samkoo Shopping Korea. He also served as president and partner of Specialty Products Global L.C. since 1994, where he researched, funded, and implemented the national rollout of retail store operations.

“Thomas has more than 25 years of experience in CEO and executive assignments within fast-paced, high-growth industries, with a focus on technology and marketing companies,” George stated. “His varied roles across global, retail operations will greatly benefit QVC Japan and build upon the strong leadership team already in place.”

QVC is the majority shareholder of QVC Japan. Mitsui & Co. also holds an interest in QVC Japan. Headquartered in Tokyo, Mitsui & Co. is a diversified comprehensive trading, investment and service company.

QVC Posts 3 Percent Revenue Gain In First Quarter, Takes $24 Million Hit In Japan From Quake

May 6, 2011

QVC posted good first-quarter results, with its revenue rising 3 percent to $1.2 billion, the home shopping network’s parent Liberty Media reported Friday. But the company took a hit in its Japanese network because of the earthquake and tsunami.

In the United States, sales of electronics, beauty and accessories increased while jewelry sales declined.

The average selling price for QVC items in the first quarter increased 7 percent from $51.16 to $54.83, while total units sold decreased 3 percent to 24 million. Returns as a percent of gross product revenue decreased from 18.6 percent to 18.2 percent for the quarter.

QVC.com sales as a percentage of U.S. sales grew from 32 percent in the the year-ago period to 36 percent in the first quarter.

Adjusted OIBDA was relatively flat, negatively impacted by $10 million for the quarter due to the change in terms of QVC’s arrangement with GE Money Bank for its QCard that was effective in August 2010 as previously disclosed.

Excluding the negative impact of this arrangement, U.S. adjusted OIBDA increased 3 percent for the first quarter. The U.S. adjusted OIBDA margin decreased 77 basis points to 21.8 percent for the quarter primarily due to the previously disclosed change in our QCard arrangement and a decrease in initial margins due to growth in electronics.

QVC’s consolidated revenue, which includes its international channels, increased 4 percent in the first quarter to $1.8 billion and adjusted OIBDA decreased less than 1 percent to $363 million.

Here is QVC president and CEO Mike George’s canned statement:

QVC drove solid revenue growth of 4 percent against a challenging prior year comparison. While our consolidated adjusted OIBDA declined slightly from the prior year, this was driven by three extraordinary events: our Italy start-up, the change in our QCard program with GE Money Bank and the impact of the tragedies in Japan.

In the U.S., our 3 percent revenue growth in the first quarter contributed to a 14 percent two-year growth rate, placing us among the faster-growing large retailers in the U.S.

Exceptional revenue growth from new customers and eCommerce, inclusive of mobile, in the U.S., Germany and the UK, are the leading factors in this quarter’s performance. We are committed to creating highly immersive shopping experiences with differentiated products, engaging personalities, high levels of community involvement and simultaneous engagement over multiple platforms – an experience that cannot be replicated by either store based or Internet retailers.

A perfect example of this was March’s Red Carpet event celebrating the Oscars, where we engaged our customer over multiple platforms through the creation of behind the scenes video blogs, contests on Facebook and QVC.com and live streaming tweets.”

The March 11 earthquake and related disasters in Japan put QVC Japan off-the-air for 12 days. The distribution center suffered moderate damage. QVC maintains insurance coverage for property damage and certain business interruption circumstances, subject to roughly $12 million deductible.

QVC has not yet determined the complete financial impact of the property damage, the impact to its future operations or the value, if any, of a related insurance claim. Due to the nature of the events that caused QVC Japan to suspend its operations for a time in March, QVC estimates that about $24 million in revenue was lost based on prior-year revenue during the same period.

Since QVC Japan has resumed its broadcast, sales have been running about 10 percent below prior year sales, due to the disruption in the country.

“We cannot determine at this time when QVC Japan will return to sales levels we were experiencing before the earthquake and related disasters in Japan,” QVC said. “Additionally, management enacted a temporary employee pay policy to continue to pay employees during the off-air period, effectively causing QVC Japan’s variable labor costs to be fixed for a period of time. These events described above negatively impacted QVC Japan’s and QVC’s consolidated adjusted OIBDA margin.”

Despite the Japan tragedy, QVC’s international revenue increased 7 percent in the first quarter to $643 million including the impact of unfavorable exchange rates in Germany and Italy and favorable exchange rates in the UK and Japan. International adjusted OIBDA decreased 2% to $103 million for the quarter.

QVC Japan’s revenue and adjusted OIBDA decreased 9 percent and 19 percent, respectively, in local currency for the quarter due to the suspension of operations related to the earthquake and related disasters. In addition, the results were impacted by QVC’s decision to pay all employees during the off-air period and the negative leverage impact of QVC’s fixed fee broadcasting distribution arrangements. QVC Japan also contributed close to $2 million to local charitable restoration efforts.

QVC Puts Its Japanese Network Back On The Air, Pledges $1.3 Million In Disaster Relief

March 24, 2011

We’ve been so busy at our day job, we’ve barely had time to breathe, let alone blog. But we saw some good news tonight when we were checking QVC.com.

There was a press release that said QVC Japan resumed broadcasting on a 24-hour live basis Wednesday at 10 a.m., local time.

In addition, QVC has pledged $1.3 million to support disaster relief, and has mobilized its operations globally to facilitate customer and employee donations.

“I would like to express our deepest sympathy to those people involved in the disaster,” QVC Japan CEO Chris Horobin said in a canned statement. “Having witnessed so many people’s energy, passion and bravery in response to the tragedy, I am confident that Japan will recover soon.”

Globally, QVC has now pledged a total of $1.3 million, including a $100,000 donation already made to the American Red Cross in the hours following the disaster March 11.

QVC Japan is exploring nonprofit organizations to receive these contributions to support the disaster relief efforts, according to the press release.

In addition, the first hour of QVC Japan programming was devoted to disaster relief, with certain proceeds generated from its sales made between 10 a.m. and 11 a.m., local time, pledged to the Japanese Red Cross. This contribution is in addition to the $1.3 million company pledge.

QVC is also encouraging employees and customers to support the Red Cross. QVC in the United States, United Kingdom, Germany and Italy has promoted Red Cross donation efforts on air, via company websites, and through social media outreach.

“Our hearts go out to the millions of people who were impacted by the major earthquake and tsunami that struck Japan,” QVC president and CEO Mike George said in his statement. “As a global company, we are committed to supporting the disaster relief efforts.”

QVC Japan has headquarter offices, studios and a customer-contact center in Makuhari, Chiba and a distribution center in Sakura, Chiba.

QVC Japan Off The Air, Operation Damaged By Earthquake

March 16, 2011

QVC Japan is expected to be off-air for at least the remainder of this week “as a result of the tragic earthquake affecting that country,” Liberty Media Corp. said Wednesday.

“QVC’s facilities have suffered moderate damage and all its employees have been accounted for,” QVC parent Liberty Media said in a filing with the Securities and Exchange Commission.

QVC Japan, a joint venture with Mitsui & Co., has 24 million subscribers.

“QVC will continue to assess the impact of the earthquake and its aftermath on QVC’s operations in Japan, but the adverse effect of these events on those operations may be significant,” the filing said.

QVC Japan, a joint venture with , has 24 million subscribers.

Here is what Liberty Media reported about QVC Japan during its fourth-quarter earnings:

QVC Japan’s revenue grew 7% and 10% in local currency for the quarter and the year, respectively, through increased sales in apparel and beauty.

QVC Japan achieved growth of 13% and 17% in units sold for the quarter and the year, respectively with the average selling price in local currency declining 6% in both the quarter and the year.

For the full year, QVC Japan exceeded $1 billion in revenue, the first market outside the US to achieve that milestone. QVC Japan’s adjusted OIBDA margin increased 77 basis points for the quarter and 96 basis points for the year primarily as a result of reductions in cable operator commission expense due to favorable renegotiated contract terms as well as attaining leverage on fixed costs due to the increase in revenue.