This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Will HSN Be Ensnared in Liberty's Web?

"We are disappointed with the soft sales results in the U.S., driven in part by a sluggish retail environment and difficult year-over-year comparisons," said Mike George, QVC's CEO. "However, we chose not to adopt a heavily promotional focus in the quarter and were able to maintain stable margin rates despite the slower sales growth."

QVC's third-quarter revenue was $1.69 billion, including a 2% rise in the U.S. to $1.17 billion and a 2% rise overseas to $512 million. Apparel sales increased while sales of gold jewelry and home products slipped. The unit's operating cash flow was down 1% to $364 million.

The company said sales were weak in its German and Japanese operations because of heightened competition and regulatory issues.

"The company continues to see pressure from a sluggish economy," says Jeffrey Shelton, analyst with Natixis Bleichroeder. "The results were less than my expectations and most people's expectations."

On the other side of Liberty Media's business, which is tracked by Liberty Media Capital (LCAPA) shares, results were better thanks to the Starz Entertainment division.

Revenue at Starz, a network of paid movie cable channels, rose 11% to $253 million. Its operating cash flow nearly doubled to $88 million, and Liberty said Starz had experienced continued subscriber growth and reduced programming costs.

Liberty Media doesn't report net income figures for QVC or Starz Entertainment.

2 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Submit an article to us!
SYM TRADE IT LAST %CHG
LINTA $29.31 0.00%
DTV $90.40 0.00%
IACI $71.67 0.00%
TWX $85.58 0.00%
AAPL $128.95 0.00%

Markets

DOW 18,024.06 +183.54 1.03%
S&P 500 2,108.29 +22.78 1.09%
NASDAQ 5,005.3910 +63.9670 1.29%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs