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Qurate Retail Inc, through its subsidiaries, is engaged in the video and online commerce industries. Its segments include QxH, which includes QVC U.S. and HSN market and sell a wide variety of consumer products in the United States, using their televised shopping programs and via the Internet through their websites and mobile applications; QVC International segment markets and sells a wide variety of consumer products in several foreign countries, using its televised shopping programs and via the Internet through its international websites and mobile applications; and Zulily markets and sells a wide variety of consumer products in the United States and several foreign countries. Geographically, the company operates in U.S, which generates key revenue, Japan, Germany and other regions.
Zulily has launched an exclusive capsule collection of apparel and soft goods for babies and moms, collaborating with influencers Jessica Nickson and Noelle Downing. Available until September 29, the collection features over 170 styles, priced from $8.99 to $46.99. The focus is on versatility and quality, catering to the needs of new moms and their infants. Kiki Lockwood, a merchandising manager at Zulily, emphasizes the authentic experiences shared by the designers as new mothers. This collection aims to make everyday life easier for families with infants.
On August 24, 2022, Qurate Retail Group announced the appointment of James Hathaway as interim Chief Financial Officer following the resignation of Jeffrey A. Davis. Hathaway, who has a strong background in financial leadership, joined Qurate in May 2021. The company also appointed William Hunter as Chief Transformation Officer, focusing on Project Athens, a three-year plan aimed at stabilizing revenue and increasing free cash flow. This transition reflects Qurate's commitment to growth and transformation in its video commerce business.
Zulily reports shifting holiday shopping habits among U.S. moms amid inflation, with a focus on intentional gifting. A nationwide survey reveals 43% of mothers find joy in buying toys, though 33% plan to spend less this season. Zulily offers personalized deals on iconic brands like LEGO, Play-Doh, and Barbie, aiming to provide quality gifts at affordable prices. The survey indicates that 42% more shoppers are planning to purchase gifts earlier to secure better deals. Zulily's dedicated holiday platform offers savings up to 50% and free shipping on orders over $89.
Qurate Retail, Inc. (Nasdaq: QRTEA, QRTEB, QRTEP) has declared a quarterly cash dividend of $2.00 per share on its 8.0% Series A Cumulative Redeemable Preferred Stock. This dividend is payable on September 15, 2022, to stockholders of record as of August 31, 2022. Qurate Retail is a Fortune 500 company operating multiple retail brands and is a leader in video commerce, reaching over 200 million homes globally.
Qurate Retail reported second quarter 2022 results, revealing a 16% revenue decline to $3.0 billion impacted by inflation, supply chain challenges, and a fire at its Rocky Mount, NC fulfillment center. The company's diluted EPS was $0.53, with adjusted EPS at $0.12. Notably, eCommerce revenue fell by 17% to $1.8 billion. Despite these declines, Qurate aims to stabilize revenue through Project Athens, a three-year turnaround plan. Key initiatives include leadership changes, debt reduction via asset monetization, and early signs of revenue stabilization.
QVC and the Housewares Charity Foundation have launched the second annual Living for Giving shopping event, aimed at supporting Feeding America. Running through October 28, 2022, the event features discounted national brand houseware products, with 70% of proceeds aiding hunger relief efforts. In 2021, the initiative raised over $670,000, providing 6.7 million meals to families in need. The campaign emphasizes QVC's commitment to community support and utilizes its extensive vCommerce reach to facilitate donations and awareness for hunger issues in the U.S.
Zulily has unveiled its Top Toy List for 2022, featuring 25 holiday toys from brands like Fisher-Price, LEGO, and KidKraft. With inflation concerns, 37% of U.S. shoppers plan to start their holiday shopping early to manage budgets. The toy market is projected to contribute to a total of $1.3 trillion in retail sales this holiday season, a 3.3% increase from last year. Zulily aims to offer savings up to 70% on popular toys, encouraging early purchases to avoid stock shortages as items are available for a limited time.
Qurate Retail, Inc. (Nasdaq: QRTEA, QRTEB, QRTEP) will hold a conference call on August 5, 2022, at 8:30 a.m. E.T. to discuss its second-quarter results. The earnings report will be released before market opening on the same day. Participants can access the call by dialing GlobalMeet at (800) 458-4121 or +1 (323) 794-2093, with the passcode 8858509. The call will also be streamed live on Qurate's website, offering insights into its financial performance and future outlook. Relevant links and replays will be provided post-call.
Zulily has launched its annual Back-to-School Shop featuring discounts of up to 70% on a curated selection of national brands and unique finds. Families are projected to increase spending to $1,248 this year, up from $849 last year amid high inflation. To alleviate inflation impacts, Zulily will offer additional discounts every Friday starting July 8 through August 26. The campaign includes a collaboration with Catherine Giudici Lowe, who shares essential back-to-school must-haves for families.
Zulily announces its annual Wow Week event starting June 20 and running until June 26, offering significant discounts on popular brands like Dyson, Birkenstock, and Melissa & Doug. The shopping week aims to provide moms with the best prices of the season on various products, including clothing and home goods. The event features unique daily deals and free shipping on refurbished Dyson products. Zulily emphasizes its commitment to delivering value and savings, enhancing the shopping experience for its customers.
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