The increased revenue was the result of increased marketing efforts driving additional traffic, investments in site improvements, increased shipping charges and broader inventory offerings.
Additionally, the increased revenue was partially driven by product discounting to move seasonal inventory. Adjusted OIBDA decreased 29 percent to $25 million for the quarter and 11 percent to $85 million for the year. The decrease in adjusted OIBDA for the quarter and the year was the result of lower product margins from continued product discounts and promotions. Additionally, increased credit card chargebacks impacted the annual results.
The most significant declines in operating results for the eCommerce businesses, as compared to prior periods, were the Celebrate retail business and the Red Envelope business within Provide. These businesses had declining revenues as well as decreasing contribution margin (product margin less direct expenses of the business), which hurt the overall Celebrate and Provide businesses. These declining operating results were partially offset by the growth of other eCommerce businesses primarily, CommerceHub and Bodybuilding.com.
About Liberty interactive:
Liberty Interactive Corporation operates and owns interests in a broad range of digital commerce businesses. Those interests are currently attributed to two tracking stock groups: Liberty Interactive Group and Liberty Ventures Group.The Liberty Interactive Group is primarily focused on video and eCommerce operating businesses. Currently, the Liberty Interactive Group consists of Liberty Interactive Corporation's subsidiaries Backcountry.com, Bodybuilding.com, Celebrate Interactive (including Evite, gifts.com and Liberty Advertising), CommerceHub, MotoSport, Provide Commerce, QVC, Right Start, and Liberty Interactive Corporation's interests in HSN and Lockerz.
Liberty Ventures Group is primarily focused on business investments other than Liberty Interactive Corporation's video and eCommerce operating businesses. Currently, the Liberty Ventures Group and consists of its subsidiary TripAdvisor, its interest in Expedia, and minority interests in Interval Leisure Group, Time Warner, Time Warner Cable, Tree.com (Lending Tree) and various green energy investments.
By press release
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