Tuesday, August 12, 2008

QVC Sales Slumping

Libery Media, which owns all of QVC and part of HSN (read about that here), reported a 4% increase in total second quarter revenue.

But all is not well in the house that Diamonique built.

The increase is due to a big 14% increase in international revenue--especially Japan. U.S. sales have been less than stellar.

According to an article from rapidtvnews.com, QVC's domestic revenue decreased in the second quarter. "The mix of product sold shifted to the accessories area from the home and jewelry categories. The average selling price increased six per cent from $44.83 to $47.39 while the total number of units shipped declined four per cent to 27.6 million from 28.8 million. Returns as a percent of gross product revenue increased due to product mix shifts and higher average selling prices. QVC.com sales as a percentage of domestic sales grew from 23% in the second quarter of 2007 to 25% in the second quarter of 2008."

So the products shifted, the prices went up, and sales went down. Looks like the only bright spot is the increase in Internet sales. No wonder the hosts have been harping about QVC.com lately.

We're hurting, Q! We can't afford to buy multiple sets Diamonique studs (Oh, snap! Shout out to Lisa Mason--you know how she loves a good stud!) to keep on hand in the gift drawer. I know that you are morally and ethically opposed to clearance sales, but I've heard that they actually work ... why not try having one for once?

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