QVC boasts strong revenue growth in Q4
Englewood, Colo. — Liberty Interactive, parent company of QVC, reported revenue growth for the fourth quarter and full year thanks to favorable results at QVC and its e-commerce division.
Liberty Interactive’s revenue increased 7% to $3.1 billion in the fourth quarter, and 8% to $9.6 billion for the year.
"QVC finished the year strong with impressive Q4 results, particularly in the United States and Japan, despite a challenging macroeconomic environment," stated Greg Maffei, Liberty Interactive president and CEO.
QVC’s consolidated revenue increased 5% in the fourth quarter to $2.6 billion, and 6% to $8.3 billion for the year.
QVC’s U.S. revenue increased 4% to $1.8 billion in the fourth quarter and 3% to $5.4 billion for the year. Revenue growth was driven by strong sales in electronics, home and accessories products. For the full year, these increases were partially offset by a decline in jewelry product sales.
In the fourth quarter, QVC’s e-commerce revenue increased 16% to $712 million, and grew to 40% from 36% as a percentage of total U.S. revenue. For the year, e-commerce revenue increased 15% to $2.0 billion, and grew to 37% from 33% as a percentage of total U.S. revenue.
QVC’s international revenue increased 7% in the fourth quarter to $857 million, and increased 11% to $2.9 billion for the year.
Williams-Sonoma ‘cultivates’ a new kitchen community
SAN FRANCISCO — Williams-Sonoma is helping consumers create their dream kitchen with the launch of Cultivate.com. Offering information about kitchen design and remodeling in one destination, the website will feature advice from acclaimed kitchen experts, thousands of inspirational photos, recommendations for local kitchen professionals and unique planning tools, the company announced Friday.
According to Williams-Sonoma, Cultivate.com distinguishes itself by not being an e-commerce site — no merchandise is sold on the site. Instead, the site is meant to connect professionals with consumers looking to create their ideal kitchen. Designers, architects, and other kitchen professionals upload free profiles with information about their business and albums of their best kitchen projects. Consumers who join the site can then create private, online inspiration folders with their favorite kitchen designs and information on the professionals they are interested in working with. Cultivate.com also provides an opportunity for consumers to share their ideas and their kitchens with other enthusiasts.
“Our customers are passionate about their homes, and when we surveyed them about kitchen renovation we heard a common theme – that designing a kitchen can be overwhelming,” said Katherine Rice, VP business development Williams-Sonoma Inc. “So we created Cultivate.com to offer a resource with an inspirational yet practical point of view, helping make their ideal kitchen a reality.”
For design professionals, the site offers a unique opportunity to showcase their expertise and connect with a large audience interested in kitchen design, the company said. In addition, the site partners with leading kitchen manufacturers—including Cambria USA, Miele, Walker Zanger, Sub-Zero and Wolf, and Benjamin Moore—who lend their expertise to the site.
Dillard’s delivers in Q4
LITTLE ROCK, Arkansas — Dillard’s ended its fiscal year with higher income and increased sales, and heads into 2012 on the heels of a record-setting performance.
The company reported income for the fourth quarter ended Jan. 28 of $141.5 million, or $2.77 per share. For the prior year fourth quarter, Dillard’s reported net income of $109.6 million, or $1.75 per share.
The company reported that net sales for the quarter were $1.97 billion compared with net sales of $1.93 billion for the same period last year. Same-store sales increased 3% for the quarter.
Dillard’s CEO, William Dillard, II, stated, "We are pleased with our progress in 2011 where we delivered a record setting performance. . . . In 2012, we will remain focused on creating a clearly distinctive shopping experience at Dillard’s in merchandise selection as well as in customer service."
Dillard’s reported net income for the 52 weeks ended Jan. 28 of $463.9 million, or $8.52 per share.For the prior fiscal year, the 52 weeks ended January 29, 2011, Dillard’s reported net income of $179.6 million, or $2.67 per share.
Net sales for the year were $6.264 billion compared with net sales for the prior year of $6.121 billion. Full-year same-store sales were up 4%.