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 (Nasdaq: QRTEA) reported a mixed second quarter 2024 performance. Despite a 9% revenue decrease, the company achieved a 4% increase in Adjusted OIBDA. Operating income fell by 55%, totaling $165 million due to the absence of significant gains recorded last year. Qurate's focus on cost management and enhancing product margins helped reduce net debt by $71 million. Key segments experienced revenue declines: QxH down 4%, QVC International down 5% in USD but flat in constant currency, and Cornerstone down 14%. Excluding Zulily, total revenue dropped 5% in USD. The company is optimistic about serving its core demographic, women over fifty, via the QVC Age of Possibility campaign launched in April.
Qurate Retail Group, part of Qurate Retail, Inc. (Nasdaq: QRTEA, QRTEB, QRTEP), has appointed Mara Sirhal as Chief Merchandising Officer for QVC US, its largest business unit. Sirhal brings over 20 years of experience in merchandising, product and brand development, and sourcing. She will report to Mike Fitzharris, President of QVC US, and lead QVC's merchandising strategy across all product categories.
Sirhal will focus on aligning the assortment with QVC's Age of Possibility campaign, targeting women consumers ages 50+. She will oversee the Buying, Planning & Programming organization and the Design Development & Global Sourcing team. Sirhal's appointment is expected to strengthen QVC's position in the marketplace and drive product discovery for its target audience.
QVC has launched Cay Skin, a new inclusive suncare line by Winnie Harlow, premiering on-air and on QVC.com starting July 12, 2024. Targeting women over 50, the line offers daily skin protection with products formulated for various skin tones and conditions. Highlights include the Isle Glow Face Moisturizer, which is silicone-free, non-comedogenic, and features Aloe Vera Leaf Juice and seaweed extract, inspired by Harlow's Jamaican heritage. Customers can tune into QVC's Beauty Revolution show on July 12 at 9:00 p.m. EST to see the exclusive product bundle and shop the collection online.
Qurate Retail (Nasdaq: QRTEA, QRTEB, QRTEP) will release its Q2 2024 earnings on August 8th, before market open, followed by a conference call at 8:30 a.m. ET. The announcement will cover their financial performance and outlook. Detailed results will be available on their website.
HSN has launched HSNfluencer, a new creator platform powered by impact.com, to enhance collaboration with influencers and increase consumer engagement. The platform allows HSN to manage and analyze creator partnerships in a streamlined, customizable environment, providing tools and support for content creators to generate affiliate links and curated collections. This initiative aims to leverage the growing creator economy, expected to reach $480 billion by 2027, by building direct relationships with creators and improving customer shopping experiences through trusted recommendations.
Qurate Retail announced that their President & CEO, David Rawlinson, will join a panel discussion at the Evercore ISI Consumer and Retail Conference on June 11th at 2:45 p.m. ET. During this event, Rawlinson is expected to provide insights into the company's financial performance and future outlook. This appearance aims to highlight Qurate Retail's strategic direction and operational achievements to investors and stakeholders.
Qurate Retail (Nasdaq: QRTEA, QRTEB, QRTEP) announced a quarterly cash dividend of $2.00 per share for its 8.0% Series A Cumulative Redeemable Preferred Stock. The dividend will be payable on June 17, 2024, to stockholders of record as of May 31, 2024. Qurate Retail, a Fortune 500 company, operates six major retail brands, including QVC and HSN, and is a leader in video commerce, reaching over 200 million homes globally through various platforms.
Qurate Retail (Nasdaq: QRTEA, QRTEB, QRTEP) will host its virtual Annual Meeting of Stockholders on June 10, 2024, at 9:00 a.m. M.T. Stockholders of record as of April 16, 2024, can participate by logging in at www.virtualshareholdermeeting.com/QRI2024 using their 16-digit control number. The meeting will allow stockholders to listen, vote, and ask questions. Technical support will be available 10 minutes before the meeting. An archive of the webcast will be accessible on the Qurate Retail website after SEC filings. Qurate Retail, a Fortune 500 company, includes six leading retail brands and is the largest player in video commerce, reaching over 200 million homes worldwide through various platforms.
Qurate Retail, Inc. reported a 4% decrease in revenue for the first quarter of 2024 but saw improved gross margins, a 40% growth in Adjusted OIBDA, and increased free cash flow. The company is focused on cost reduction, product margin improvement, and brand partnerships. Despite challenges in revenue, the company is on track with its transformation initiatives and aims for sustainable growth.
QVC has signed multi-year contract extensions with SES in Germany and the UK to continue broadcasting multiple HD and SD channels. The partnerships secure capacity on SES's prime neighbourhoods, ensuring a high-quality in-home shopping experience for viewers in key European markets. The extensions highlight the important role of satellite distribution for direct-to-home TV services and underline SES's position as a trusted partner for leading media and entertainment providers.
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