QVC’s UK audience sided with the slowdown affecting the British high street as the homeshopping channel experienced a slowdown in promotional category sales and softness in the home category.
The UK store, available on satellite, cable, DTT and online still managed to grow 3% in local currency in the second quarter. The broadcaster’s international revenues, which also include Germany and Japan, increased by 14% in Q2 to reach $580 million (€448m). Japan, a clear bright spot in QVC’s international business, increased revenues by 10%. International adjusted OIBDA (Operating Income Before Depreciation and Amortisation) increased 11% in the second quarter from $91 million to $101 million.
In Germany there were falls in jewellery and clothing sales that resulted in a 3% decrease in net revenues in the local currency. The average selling price increased slightly, but units shipped fell by 2%.
