Welcome to our dedicated page for Qurate Retail Series B news (Ticker: QRTEB), a resource for investors and traders seeking the latest updates and insights on Qurate Retail Series B stock.
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.
Qurate Retail reported a significant 14% decline in revenue to $2.9 billion for Q1 2022, attributed to supply chain disruptions and depressed consumer sentiment due to inflation and geopolitical tensions. The adjusted diluted EPS stood at $0.15. Notably, Zulily's revenue plunged 38%, while Cornerstone achieved a 19% revenue increase. The company is undergoing a restructuring to stabilize its U.S. vCommerce business and enhance streaming operations, yet it anticipates ongoing operational disruptions from a recent fire at its Rocky Mount fulfillment center.
Qurate Retail, Inc. will host a conference call on May 6, 2022, at 8:30 a.m. E.T. to discuss its Q1 2022 results and financial outlook. A press release detailing these results will be issued before market open on the same day. Participants can join via GlobalMeet at (800) 458-4121 or online through Qurate's investor website. The call will also be archived for later access. As a leading company in video commerce, Qurate Retail reaches over 200 million homes globally.
Frontgate and House Beautiful announce the launch of The Eberly Collection, their first co-designed outdoor furniture line. Available from March 30, 2022, this collection features a range of products including deep seating sets, coffee tables, benches, and a bar cart, designed for modern outdoor entertaining. Each piece is made with Sunbrella fabrics and comes with a 10-year warranty. According to Carisha Swanson from House Beautiful, the collection aims to enhance outdoor socializing experiences, especially in light of changing consumer preferences during the pandemic.
On March 21, 2022, Zulily announced the launch of its 12-week Mother's Day Shop, running from March 10 to May 31. This online platform features gifts for mothers and promotes self-care for them. A survey of 1,000 Millennial moms reveals that 65% partake in their own Mother's Day plans, and 16% look forward to being celebrated as a family. Key findings include that 72% feel supported by online communities, and 78% prefer surprise gifts. The Mother's Day Shop includes various gifting themes and will host a sweepstakes with $10,000 in prizes starting April 28.
Qurate Retail, Inc. announced Terry Boyle as the new President & CEO of Zulily, effective March 14, 2022. Boyle, a digital retail veteran with extensive experience, will work alongside CEO David L. Rawlinson II to enhance Zulily's business strategy. Rawlinson praised Boyle's proven track record in driving growth and digital innovation. Zulily, known for its unique commerce model, serves 4.6 million customers. The company is a part of Qurate Retail Group, which operates several retail brands, including QVC and HSN, reaching over 200 million homes globally.
Qurate Retail, Inc. (Nasdaq: QRTEA, QRTEB, QRTEP) will have President & CEO David Rawlinson presenting at the Bank of America Consumer & Retail Technology Conference on March 8 at 11:20 a.m. EST. The presentation will cover the company's financial performance and outlook. Interested parties can register to listen live at Qurate Retail's website, where an archive will also be available for 180 days post-event.
Qurate Retail is a Fortune 500 company with brands like QVC®, HSN®, and Zulily®.
On March 2, 2022, Qurate Retail, Inc. announced new executive leadership to enhance its video commerce (vCommerce) strategy, focusing on QVC and HSN. President and CEO David L. Rawlinson II emphasized the need for agility and innovation to drive growth. Key appointments include Mike Fitzharris as President of QVC US, Rob Muller as President of HSN, and Mary Campbell to lead a new streaming-focused business unit. The restructuring aims to differentiate brands, improve digital capabilities, and streamline operations to adapt to evolving customer needs.
Frontgate, a leading lifestyle brand, has teamed up with celebrity chef Michael Symon to launch its new Outdoor Kitchen Collection just in time for spring. This collection features over 15 modular pieces designed to enhance outdoor entertaining. Symon will provide exclusive content on frontgate.com, including setup tips and gourmet recipes. The launch will be celebrated at the 2022 South Beach Wine & Food Fest in Miami Beach, Florida. Additionally, Frontgate is donating $25,000 to the Michael D. Symon Foundation, supporting local food banks and hospitality industry employees affected by the pandemic.
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