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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.
Qurate Retail reported disappointing Q4 2021 results with a 9% decline in revenue to $4.1 billion and a full-year revenue decrease of 1% to $14 billion. The company faced challenges, including a 30% drop in Zulily revenue and losses due to a fire at the Rocky Mount fulfillment center, costing approximately $250 million. Diluted EPS was $(0.54) for Q4, while adjusted diluted EPS stood at $0.40. Despite ongoing challenges, Qurate Retail emphasizes the importance of cost control, free cash flow, and potential recovery through future investments.
Qurate Retail, Inc. (Nasdaq: QRTEA, QRTEB, QRTEP) announced a quarterly cash dividend of
On February 3, 2022, Zulily launched its exclusive Sunshine Swing Spring Playwear Collection, which features over 60 styles designed by six winners of the #UniquelyZu contest. This collection, available until February 17, highlights the fashion sensibilities of children, capitalizing on a trend where 51% of parents believe their kids have a better style sense. Prices for the collection range from $12.99 to $29.99, targeting outdoor play and summer vibes. The collection aims to enhance children's happiness and confidence through unique clothing options, reflecting their creativity.
Qurate Retail, Inc. (QRTEA, QRTEB, QRTEP) has reported a decline in expected fourth-quarter results, with revenues down 8-9% and adjusted OIBDA down 17-20%. Specific segments show QxH revenue decreasing by 6.5-7.5% and adjusted OIBDA dropping by 22-25%. This downturn is attributed to lower-than-expected demand and compounded by costs associated with a fire at the QVC Rocky Mount fulfillment center. The company plans to discuss detailed results in an upcoming earnings call on February 25, 2022.
QVC announced the launch of J Jason Wu – The Culinary Experience on January 26, 2022. This new collection features cookware and small appliances designed by renowned fashion designer Jason Wu. Key items include a 12" Cast Aluminum Nonstick Pan and an 8-Pc Cookware Set. The collection emphasizes both form and function, aiming to enhance home cooking experiences. The launch will be showcased on QVC digital platforms and on-air. Jason Wu highlighted the collaboration's focus on sleek design and culinary essentials.
Zulily has released its inaugural State of the Date Night Report, revealing evolving dating behaviors among parents. Notably, 74% of parents feel that COVID-19 has altered their dating dynamics, with an average of $165 expected spending on Valentine's Day gifts. The report highlights a growing preference for 'Micro Moment Dating', which emphasizes shorter, frequent quality moments. Couples are also increasingly favoring double dates and early morning dates. This survey, conducted by OnePoll, reflects changes in how parents prioritize romance amidst busy schedules.
Zulily, an online retailer, has released its Best Time to Shop Report, guiding moms on when to shop to maximize savings amid rising inflation and supply chain challenges. The report highlights that Zulily offers discounts up to 97% lower than competitors. Key insights reveal that February is ideal for purchasing spring décor, beauty products, and summer essentials, as these items are linked to emotional well-being. The report aims to ease shopping stress for moms, promoting year-round savings through strategic planning.
Zulily has launched its first capsule collection inspired by designs from six young winners of its 2021 #UniquelyZu contest. Available from Jan. 5 to Jan. 19, this collection offers over 60 styles for kids, featuring swimwear and cover-ups priced between $12.99 and $29.99. The initiative aims to address the increasing demand for personalized fashion among children, as 79% report feeling happier in new clothes. The collection showcases contributions from kids aged 7 to 14, reflecting their unique perspectives on style and self-expression.
On December 18, 2021, QVC's fulfillment center in Rocky Mount, North Carolina, suffered a fire, leading to its closure. QVC ensures that all affected team members will receive their salaries through December while evaluating operational alternatives and the fire's financial impact. The Rocky Mount center is crucial, handling 25-30% of QVC and HSN's volume, complicating the recovery process. The company is assessing salvageable inventory and exploring secondary fulfillment options. QVC has fire damage insurance and is cooperating with authorities on the incident investigation.
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