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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 Group has appointed Bill Wafford as its new Chief Financial Officer, effective March 20, 2023. With over 25 years of corporate finance experience, Wafford's background includes leadership roles at companies like JCPenney and Everlane. He will report to David Rawlinson II, CEO, who noted that Wafford's expertise aligns with the company's multi-year growth plan focused on strengthening the core business and advancing in the video streaming commerce space. James Hathaway will continue as CFO for QVC US, enhancing continuity during the company's transformation efforts.
Qurate Retail reported challenging fourth quarter and full-year 2022 results with total revenue decreasing 13% to $3.5 billion in Q4 and 14% to $12.1 billion for the full year. The company faced impacts from a 2021 fulfillment center fire and macroeconomic pressures that weakened consumer demand. Diluted EPS was $(0.13) in Q4 and $(6.83) for the full year. Despite a structural reorganization and actions to cut costs and reduce excess inventory, all main revenue segments, including eCommerce and international sales, recorded declines. The company aims for operational improvement and has appointed Bill Wafford as CFO, effective March 20, 2023.
Qurate Retail, Inc. (NASDAQ: QRTEA, QRTEB, QRTEP) announced that
QVC, a leader in video commerce, launched a new performance wear line called Gymwrap, co-founded by Nicole Ari Parker and Boris Kodjoe, on February 21, 2023. This activewear collection is tailored for women with busy lifestyles, featuring a range of products including headbands, T-shirts, leggings, and jackets, priced between $22 and $54. The couple will debut the line live on QVC on February 24, 2023. This collaboration emphasizes size inclusivity and affordability, catering to the unique needs of women, particularly in relation to hair protection during exercise. The launch aligns with QVC's commitment to empowering women through curated fashion offerings.
Qurate Retail, Inc. (NASDAQ: QRTEA, QRTEB, QRTEP) announced a quarterly cash dividend of $2.00 per share on its 8.0% Series A Cumulative Redeemable Preferred Stock. This dividend is payable on March 15, 2023, to stockholders of record as of February 28, 2023. The company is a leading player in video commerce, reaching over 200 million homes globally through its various retail brands, including QVC and HSN.
On January 26, 2023, QVC launched The BFF Collection by Jennie Garth and Tori Spelling, featuring exclusive home décor items designed to enhance functionality and style. This collection includes 11 curated products like entertainment carts and decorative pillows, priced between $49 and $242. Garth and Spelling, known for their role in "Beverly Hills 90210," aimed to bring personal inspiration into their designs. The collection is exclusively available on QVC and marks a significant addition to their home product lineup. QVC, part of Qurate Retail (NASDAQ: QRTEA, QRTEB, QRTEP), leverages its live video commerce platform to promote these new offerings.
QVC has launched the exclusive BFF Collection by Jennie Garth and Tori Spelling on January 26, 2023. This curated home décor collection is designed to simplify decorating while adding style to any space. The collection features 11 items, including entertainment carts and decorative pillows, priced between $49 and $242. Garth and Spelling drew inspiration from their long-standing friendship in creating the collection. Their live on-air debut occurred at 8 p.m. EST on the same day. QVC emphasizes providing affordable, sophisticated home accents through its influential video commerce platform.
Qurate Retail, Inc. (NASDAQ: QRTEA, QRTEB, QRTEP) announces a conference call on March 1, 2023, at 8:30 a.m. E.T. to discuss Q4 2022 results. A press release detailing financial performance will be issued before market trading opens that day. The call aims to cover Qurate Retail's performance and future outlook. Participants can join via InComm Conferencing or listen online at the Qurate Retail website. The company operates renowned retail brands such as QVC® and HSN®, reaching over 200 million homes globally through diverse platforms. The recording will be available on the website post-call.
Zulily has launched the "Magic for Moms" initiative, offering a total of $40,000 in store credit to support busy moms during the holiday season. The program will provide 1,000 moms with $40 each to facilitate their shopping experience. Recent surveys indicate that 67% of moms spend over a full workweek on holiday comparison shopping, with 89% prioritizing family gifts over personal shopping. Zulily aims to alleviate this burden by offering exclusive deals, allowing moms to save time and money as they prepare for the holidays.
QVC and HSN have launched as the exclusive livestream shopping channels on Pluto TV, offering around 40 hours of live programming daily. This strategic move is part of Qurate Retail Group's goal to expand its vCommerce reach across new platforms. Noteworthy shows, such as QVC's "In the Kitchen with David" and HSN's "Gotta See G by Giuliana Rancic," attract significant viewership, reaching hundreds of thousands of homes per hour. Qurate Retail aims to enhance customer engagement through diverse shopping experiences on Pluto TV.
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