Qurate Retail Inc - QRTEP STOCK NEWS

Qurate Retail, Inc. has announced a regular quarterly cash dividend of $2.00 per share on its 8.0% Series A Cumulative Redeemable Preferred Stock. The dividend is payable on December 15, 2022, to stockholders of record by the close of business on November 30, 2022. Qurate Retail is a major player in video commerce, owning brands like QVC and HSN, and reaching over 200 million homes worldwide. The firm primarily engages in video-driven shopping across multiple platforms.

Qurate Retail, Inc. (Nasdaq: QRTEA, QRTEB, QRTEP) reported a significant 13% decrease in revenue to $2.7 billion for Q3 2022, driven by a challenging retail environment and the residual impacts of a December 2021 fulfillment center fire. The company posted a diluted EPS of $(7.21), mainly due to non-cash impairments totaling $2.8 billion for goodwill and tradenames. Despite issues, Qurate continues to focus on its Project Athens strategy aimed at growth and improving cash flow, including attracting new executive talent. Insurance proceeds of $180 million were received, continuing to support recovery efforts.

QVC will host its largest live shopping event, the Nonstop Holiday Party, on November 5-6, 2022. This unique 49-hour event will feature various celebrity guests, including the Radio City Rockettes and Idina Menzel, alongside early Black Friday sales and exclusive holiday gifts. Streaming will occur across multiple platforms, including QVC, QVC2, and QVC's online channels. Shoppers can expect significant discounts on tech, beauty, and fashion items, with all orders guaranteed by December 24.

Qurate Retail, Inc. will hold its annual Investor Meeting on November 17, 2022, starting with Liberty Media presentations at 9:00am E.T. and Qurate Retail at 11:00am E.T.. This event will take place in New York, NY and is open to shareholders, analysts, and press. Discussions will include Qurate's financial performance and future outlook. A Q&A session will follow the presentations. Registration details are available on the Qurate Retail website, and a webcast archive will be accessible after the event.

Qurate Retail Group has appointed Linda Aiello as Chief People Officer (CPO), effective October 31, 2022. Aiello will oversee Team Member Experience, Diversity, and Talent Management, and reports to CEO David L. Rawlinson II. With over 20 years of HR experience at firms like Stitch Fix and Salesforce, Aiello is expected to enhance the company culture aligned with their strategic growth plan, Project Athens. Qurate Retail Group operates several retail brands and is a leader in video commerce, reaching over 200 million homes globally.

QVC announced the worldwide launch of the Lexie B2 rechargeable hearing aids Powered by Bose on October 13, 2022. These FDA-regulated, self-fitting hearing aids, designed for users with mild to moderate hearing impairment, will be available for purchase directly from QVC without a prescription. Customers can buy them via QVC's Easy Pay® installment plan and will receive free shipping. The Lexie B2 hearing aids feature customizable settings through the Lexie app, enhancing user experience. This launch expands QVC's commitment to providing accessible healthcare solutions.

Qurate Retail will host a conference call on November 4th, 2022, at 8:30 a.m. E.T. to discuss its third-quarter results. A press release detailing these results will be issued before market opening on the same day. The call aims to cover Qurate's financial performance, outlook, and other forward-looking matters. Interested participants can join via a dedicated phone line or listen to a live webcast on Qurate's website, where the call will also be archived post-event.

Qurate Retail Group has appointed Scott Barnhart as Chief Operating Officer (COO) effective immediately. Barnhart, who has over 30 years of experience in global supply chain management, will oversee various operations, including Supply Chain and Corporate Real Estate Services. His leadership is expected to drive Project Athens, a strategic growth plan aimed at enhancing revenue stability and operational excellence. Barnhart previously held executive roles at Cardinal Health and Aramark, contributing to significant improvements in supply chain efficiency.

QVC and HSN launched their interactive streaming shopping service on Samsung Smart TVs, providing users with a comprehensive video commerce experience. The QVC+ and HSN+ app combines over 50 hours of live vCommerce content daily with on-demand options, enabling seamless in-app purchases. This initiative expands Qurate Retail Group's digital presence, reaching over 100 million homes across the U.S. The service integrates multiple live channels and original programming, enhancing customer engagement and accessibility.