“QVC’s performance was driven by another strong quarter of eCommerce and mobile purchasing, a trend that continues to accelerate across our global markets,” said QVC President and CEO, Mike George. “Our customers are embracing QVC’s unique digital shopping experience, fueled by great values on distinctive products across each of our growing platforms.”QVC's U.S. revenue increased 4% to $1.3 billion in the second quarter, while gross product revenue increased 5% as a result of strength in beauty, electronics and apparel products. This was reduced to a 4% increase overall due to an increase in second quarter returns as a percent of gross product revenue of 117 basis points primarily due to increased return rates in apparel, health, beauty and jewelry due to the mix of products within those categories. Average selling price ("ASP") increased 5% from $52.02 to $54.84, while units sold remained flat compared to the prior year second quarter. In the same period, eCommerce revenue increased 15% to $498 million and grew to 39% from 35% as a percentage of total U.S. revenue. Adjusted OIBDA increased 3% to $315 million, with adjusted OIBDA margin (2) decreasing slightly due to lower product margins.
Liberty Interactive Reports Second Quarter 2012 Financial Results
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