Englewood, Colo. – Although home product sales contracted during the first half of the current fiscal year, home remains far and away the leading area of sales for the QVC/HSN division of Qurate Retail.
For the first six months ended June 30, combined home segment sales at QVC U.S. and HSN rang in at $1.185 billion, down 4.2% from the prior year period, according to the company’s recently filed 10-Q report. All product segments at QVC/HSN – which Qurate designates as QxH in its financial reports – fell except jewelry.
Home is a broad umbrella segment at QxH, comprising bedding, bath, rugs, furniture, mattresses, décor, lighting, holiday, storage, floor care & cleaning, pet supplies, major appliances, crafts, heating & cooling appliances, pet supplies and toys.
Total company revenue for the first half declined 4% to $4.245 billion.
“We remain focused on enhancing our merchandise assortment, improving product margins and diligently managing costs,” said Qurate president and CEO David Rawlinson said in announcing Q2 results last week.
Last month, the company hired retail veteran Mara Sirhal as the new chief merchant for QVC U.S. She succeeds Stacy Bowe, who was appointed president of the HSN business unit in February.
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QVC/HSN and Cornerstone muddle through another soft quarter