THE VIRGINIAN-PILOT
Copyright (c) 1994, Landmark Communications, Inc.
DATE: Wednesday, August 24, 1994 TAG: 9408240582
SECTION: BUSINESS PAGE: D2 EDITION: FINAL
SOURCE: Staff report
LENGTH: Short : 20 lines
QVC Inc., the Pennsylvania-based cable shopping network, said its profits declined 12 percent in the second quarter due to costs associated with joint ventures in the United Kingdom and Mexico. Earnings were $11.7 million, or 24 cents per share, for the three-month period that ended July 31. That's down from $13.3 million or 26 cents per share, in the year-earlier period. Sales rose nearly 16 percent, to $303 million from $262.4 million. QVC employs more than 1,650 people at facilities in Suffolk and Chesapeake. by CNB