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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.
On August 10, 2021, Zulily released insights from a groundbreaking study conducted by ENGINE that analyzed the psychological benefits of planning among mothers. The study categorized mothers into 'Planners' and 'Procrastinators' and found that planning correlates with reduced stress, greater happiness, and stronger family relationships. Interestingly, four times as many mothers prioritize savings over speed in shopping. Zulily aims to leverage these insights to enhance their personalized shopping experience, introducing new resources like '10 Ways to Train Your Brain' to encourage effective planning.
Zulily, an online retailer, has launched a beta test of its Teacher Appreciation Subscription Program, allowing teachers to save 10% on purchases. During the 2020-2021 school year, teachers spent an average of $750 out of pocket, prompting this initiative. Eligible teachers can access a free three-month subscription, verified through SheerID. The program aims to understand and meet teachers' needs, enhancing their shopping experience. Enrollment is open until September 15, 2021, and the discount applies for 90 days after verification.
Qurate Retail reported a 2% year-over-year revenue increase to $3.5 billion in Q2 2021, driven by a 11% revenue growth in QVC International and an 18% increase for Cornerstone Brands. Adjusted diluted EPS remained stable at $0.54. The company repurchased 5.9 million shares for $74 million and raised the remaining repurchase authorization to $780 million. Despite growth, QxH revenue fell 1%, while Zulily saw a 6% decline. Positive cash flow led to an increase in cash reserves while total debt remained stable at $7.19 billion.
Qurate Retail, Inc. (Nasdaq: QRTEA, QRTEB, QRTEP) plans to announce its second quarter 2021 results on August 6th at 8:30 a.m. (E.D.T.). The press release will be available prior to market opening, along with a conference call featuring CEO Mike George and Executive Chairman Greg Maffei. The call will discuss financial performance and future outlook. Interested participants can call GlobalMeet or register for the live webcast on Qurate's website. Qurate Retail, a Fortune 500 company, operates several leading retail brands and is a major player in video, e-commerce, and mobile commerce.
QVC and HSN are set to host their annual Beauty Bash on September 18, 2021, from 12-3 p.m. ET in a virtual format. The event will feature over 35 leading beauty brands and interactive experiences, allowing attendees to engage with experts and explore new products. Tickets are available for $59, including a Beauty Discovery Box valued at over $500. The event promises to double attendance capacity from previous years and offers unique panels with beauty experts, giveaways, and a shopping experience.
Qurate Retail, Inc. (Nasdaq: QRTEA, QRTEB, QRTEP) announced a semi-annual interest payment of $17.50 per $1,000 of its 3.5% Senior Exchangeable Debentures due 2031, alongside an excess cash dividend of $4.5234 per Debenture. The payments are scheduled for July 15, 2021, to holders of record as of July 1, 2021. This distribution is influenced by quarterly dividends from Motorola Solutions. Adjustments to the principal amount of the Debentures will occur after Extraordinary Additional Distributions, which do not alter the interest payment amount.
Qurate Retail, Inc. announced the appointment of David Rawlinson II as President and CEO, effective October 1. Rawlinson will succeed Mike George after a two-month transition starting August 1. Rawlinson has a strong track record with companies like Nielsen and Grainger, and is expected to lead Qurate in leveraging its unique multi-brand retail platforms. Mike George will assist in the transition and retire at year-end. Qurate Retail is a leader in video commerce and e-commerce, reaching approximately 218 million homes globally.
This Back-to-School season, a report from Zulily highlights how kids are influencing shopping decisions, emphasizing personalization in fashion. Survey results show that 99% of parents believe involving children in purchases is important. Key trends include kids expressing confidence through style, personalizing outfits, and drawing inspiration from retro fashion. Zulily also introduced the #UniquelyZu Contest for kids to design their fashion line, with winners receiving prizes and a chance to collaborate on a collection. The Back-to-School Shop is live until September 15, 2021, featuring a wide array of customizable outfits.
On June 21, 2021, Zulily unveiled its inaugural Home Trend Report, centered on insights from a survey of 1,000 moms. The report introduces the Head & Home Space Quotient, exploring how home design can enhance productivity, mindfulness, and togetherness. Key findings reveal that 68% of moms experience 'junk drawer jitters,' with 32% reporting decreased organization at home. The report emphasizes the importance of creating serene spaces and outdoor areas for social gatherings. Zulily aims to help moms reclaim their homes through effective and appealing design solutions.
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