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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 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.
QVC has launched an exclusive size-inclusive capsule collection called Form & Line, designed by Universal Standard. This collection features six premium wardrobe staples, available in sizes 00-40, emphasizing exceptional fit and quality. Items include Knit Short Sleeve Tee, Ponte Pencil Skirt, and more, priced between $44 and $88. QVC continues its commitment to providing equal pricing for all sizes and aims to enhance the shopping experience for customers of diverse body types.
On June 15, 2022, QVC, Inc. announced the expiration of its cash tender offer for its 4.375% Senior Secured Notes due 2023. Approximately $535.34 million, or 71.38%, of the notes were validly tendered by the expiration time. All tendered notes will be accepted for payment, with settlements expected to occur on June 21, 2022. The firm stressed that the press release is for informational purposes and does not constitute an offer or solicitation to purchase any securities. Risks related to the buyback are outlined in publicly available documents.
QVC, Inc. has announced a cash tender offer to purchase up to $750 million of its 4.375% Senior Secured Notes due 2023. The offer, commencing June 9, 2022, will expire on June 15, 2022, with cash consideration of $1,010 per $1,000 principal amount of the notes. As of March 31, 2022, QVC reported $2.48 billion available under its senior secured credit facility and $522 million in cash. The offer is contingent upon certain conditions but is not dependent on a minimum tender amount. For further inquiries, BofA Securities and J.P. Morgan Securities are the Joint Dealer Managers.
Qurate Retail, Inc. (Nasdaq: QRTEA, QRTEB, QRTEP) announced an upcoming Investor Event on June 27, 2022, at 9:30 am E.T., to be held virtually. CEO David Rawlinson will present insights into the company's financial performance and future outlook. The event will also feature a Q&A segment for attendees to engage directly. Registration details are available on the company’s website. A recorded archive of the webcast will be accessible following necessary SEC filings. Qurate Retail is recognized for its significant role in video commerce, serving over 200 million homes globally across multiple platforms.
HSN has announced the launch of Emryn House, its 14th private label brand focused on vintage farmhouse décor with modern elements. This new home collection caters to the 40% of HSN customers who prefer this style. The brand, developed by HSN's in-house design team, includes a range of products such as bedding, decorative items, and furniture, priced between $39.95 and $229.95. HSN plans to expand its private label portfolio further by introducing additional home brands later this year.
QVC announces the launch of Encore by Idina Menzel, an apparel line designed for women, available in sizes XXS to 3X. The collection, priced from $39 to $100, aims to blend comfort and style for busy lifestyles. Items include versatile dresses, jumpsuits, and tops, all available exclusively at QVC starting May 18, 2022. Idina Menzel emphasized the importance of individuality in fashion, reflecting her personal ethos. The collaboration reinforces QVC's commitment to size-inclusive apparel, ensuring accessibility for a diverse audience.
Qurate Retail, Inc. (Nasdaq: QRTEA, QRTEB, QRTEP) has declared a quarterly cash dividend of $2.00 for its 8.0% Series A Cumulative Redeemable Preferred Stock. This dividend is payable on June 15, 2022, to stockholders of record as of May 31, 2022. Qurate Retail operates various well-known retail brands and is a leader in video commerce, reaching over 200 million homes globally through multiple platforms.
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