QVC Q1 sales up 11%
The division's operating income was $232 million in Q1 2010, up from $177 million in the first quarter of last year.
The home shopping network's domestic sales increased 10% in the first quarter to $1.2 billion, while its average selling price improved to $51.16 from $51.07 and total units sold jumped 9% to 24.5 million.
QVC.com's share of overall domestic sales grew 3%, reaching 32% for Q1 2010 and a total of $371 million. The shopping network also posted gains internationally.
"QVC is emerging from the downturn showing strong, consistent sales growth," said Mike George, QVC president and CEO, in a statement. "Our global e-commerce business grew 23% in the quarter, well ahead of the overall Internet sales index."
Greg Maffei, Liberty Media president and CEO, said in a statement that the shopping network “again delivered impressive results and drove further margin expansion.”
Revenue for Liberty Interactive, QVC's division, was up 11% overall to $2 billion. Operating income rose 18% to $218 million for the division.