Qurate Retail Inc - QRTEP STOCK NEWS

Qurate Retail (QRTEA) has scheduled its fourth quarter 2024 earnings conference call for Thursday, February 27th at 5:00 p.m. E.T. The company will release its financial results after market close on the same day. The earnings release and subsequent conference call will cover the company's financial performance and future outlook. Investors and interested parties can access the press release through Qurate Retail's investor relations website.

QVC has announced the addition of three new beauty and wellness brands to its platform: Love Wellness, No Makeup Makeup, and Gatineau Skincare. Love Wellness, created by Lo Bosworth in 2016, offers doctor-recommended feminine health products including supplements and cleansers. No Makeup Makeup, founded by Victoria Jackson, returns to QVC with a shade-adaptive cream-balm foundation featuring FlexShade technology. Gatineau, a Parisian skincare brand with over 90 years of experience, will be exclusively available in the US through QVC.

The brands will debut throughout January 2025, with Love Wellness launching on January 15, No Makeup Makeup on January 17, and Gatineau on January 21. These additions align with QVC's focus on serving women aged 50+ with products promoting empowerment and well-being. All products are available on QVC.com, with special televised debut events scheduled for each brand.

Qurate Retail (Nasdaq: QRTEA, QRTEB, QRTEP) has announced its participation in the upcoming ICR Conference 2025. David Rawlinson, President and Chief Executive Officer, will deliver a presentation on Tuesday, January 14th at 2:00 p.m. ET in Orlando, Florida. The presentation is expected to cover insights into the company's financial performance and future outlook.

Qurate Retail (Nasdaq: QRTEA) announced the transfer of its securities listing from the Nasdaq Global Select Market to the Nasdaq Capital Market, effective December 2, 2024. This move follows a June 10, 2024 notice from Nasdaq regarding non-compliance with the minimum bid price requirement. The company will have until December 9, 2024, to meet the $1.00 minimum bid price requirement, with the possibility of an additional 180-day extension.

The company has confirmed to Nasdaq its willingness to implement a reverse stock split if necessary to regain compliance. Compliance can be achieved if QRTEA's bid price reaches at least $1.00 for 10 consecutive business days. Qurate Retail does not expect material impact on equity trading from this transfer and does not plan to reapply for Global Select Market listing in the near term.

QVC announces an exclusive home décor collection, Mrs. H, by Dee Ocleppo Hilfiger, launching November 26. The collection, inspired by her Greenwich residence, features 10 items priced from $14.99 to $119.00, including stag head designs, luxurious fabrications, plaid accents, and home fragrances. The line combines functional and stylish décor elements with cozy blankets, ornate dining sets, and elegant home fragrances, aiming to bring designer touches into customers' homes. The collection debuts during 'Dennis Basso & Friends - Holiday Edition' at 10:00 PM EST.

Qurate Retail (Nasdaq: QRTEA) has declared a regular quarterly cash dividend for holders of its 8.0% Series A Cumulative Redeemable Preferred Stock. Shareholders will receive $2.00 per share, payable on December 16, 2024, with a record date of December 2, 2024. Qurate Retail Group, a Fortune 500 company, operates six retail brands including QVC and HSN, reaching over 200 million homes worldwide through 15 television channels and various digital platforms.

Qurate Retail Group announced its transformation into 'QVC Group' in Q1 2025, unveiling a new growth strategy focused on live social shopping. The company aims to generate $1.5 billion+ run-rate revenue from streaming and social within three years while maintaining double-digit adjusted OIBDA margins.

The strategy builds on Project Athens, which is expected to deliver over $500 million in adjusted OIBDA run-rate impact through 2024. The company will focus on three priorities: expanding content distribution across shopping platforms, creating a leading live social shopping content engine, and leveraging technology for continuous improvement.

QVC has announced the launch of Aunt Sandy Claus, a holiday collection by Sandra Lee, featuring items priced under $100. The collection includes holiday décor, linens, and kitchen essentials, with select items available now on QVC.com and the full assortment premiering on-air November 17. Sandra Lee will host three one-hour specials, 'Sandra Lee NOW', airing on QVC November 10, 17, and 24, showcasing holiday cooking tips, entertaining ideas, and gifting suggestions. The collection includes illuminated gingerbread houses, stockings, reversible plaid/sherpa comforter sets, and kitchen essentials like stamped stoneware muffin pans and pie plates.

Qurate Retail (Nasdaq: QRTEA, QRTEB, QRTEP) reported its Q3 2024 financial results, highlighting a 5% revenue decrease to $2.344 billion. Operating income was $152 million, and adjusted OIBDA fell by 12% to $250 million. Key segment performances included a 6% revenue decline for QxH and a 1% decline for QVC International. Cornerstone saw a 12% revenue drop. Despite revenue challenges, Qurate managed to maintain gross margins and reduced operating expenses. The company also improved QVC's credit profile by tendering 89% of its 2027 and 2028 notes, partially funded by $605 million in new notes due 2029. The Project Athens initiative is nearing completion, focusing on margin and free cash flow improvements. Qurate is transitioning to a new strategic growth phase, aiming to enhance capabilities for social and streaming platforms.