Qurate Retail Inc - QRTEP STOCK NEWS

HSN announced the launch of The Lacey Chabert Collection, which features exclusive loungewear, including 'Mommy & Me' matching outfits. Inspired by family moments, this collection showcases cozy designs available on HSN.com. Items are priced under $100. Lacey Chabert will promote the collection live on HSN's platforms on September 15 and 16. The collection includes various garments like dresses, pullovers, and lounge jumpsuits, all designed with whimsical prints and luxe comfort. Additional family jammies will be added in October.

HSN has launched its livestream shopping service on YouTube TV, reaching over 5 million subscribers across the U.S. This strategic move expands HSN's vCommerce programming, allowing customers to access a curated assortment of products in beauty, fashion, and more. Notable shows like 'Gotta See G by Giuliana Rancic' have gained over 270,000 views per hour. HSN aims to engage new customers and enhance their shopping experience on this popular platform. This collaboration aligns with HSN's commitment to innovative video shopping solutions.

On September 7, 2022, Qurate Retail Group announced key executive appointments to boost its video commerce and merchandising strategies. Soumya Sriraman, formerly of Amazon, has been named President of Streaming, leading QVC+ and HSN+ initiatives. Stacy Bowe, previously with G-III Apparel Group, becomes Chief Merchandising Officer for QVC US. These roles are part of Qurate's broader strategy to enhance customer engagement and grow its video streaming shopping business, which generated $8.3 billion in revenue in fiscal 2021.

Zulily has launched an exclusive capsule collection of apparel and soft goods for babies and moms, collaborating with influencers Jessica Nickson and Noelle Downing. Available until September 29, the collection features over 170 styles, priced from $8.99 to $46.99. The focus is on versatility and quality, catering to the needs of new moms and their infants. Kiki Lockwood, a merchandising manager at Zulily, emphasizes the authentic experiences shared by the designers as new mothers. This collection aims to make everyday life easier for families with infants.

On August 24, 2022, Qurate Retail Group announced the appointment of James Hathaway as interim Chief Financial Officer following the resignation of Jeffrey A. Davis. Hathaway, who has a strong background in financial leadership, joined Qurate in May 2021. The company also appointed William Hunter as Chief Transformation Officer, focusing on Project Athens, a three-year plan aimed at stabilizing revenue and increasing free cash flow. This transition reflects Qurate's commitment to growth and transformation in its video commerce business.

Zulily reports shifting holiday shopping habits among U.S. moms amid inflation, with a focus on intentional gifting. A nationwide survey reveals 43% of mothers find joy in buying toys, though 33% plan to spend less this season. Zulily offers personalized deals on iconic brands like LEGO, Play-Doh, and Barbie, aiming to provide quality gifts at affordable prices. The survey indicates that 42% more shoppers are planning to purchase gifts earlier to secure better deals. Zulily's dedicated holiday platform offers savings up to 50% and free shipping on orders over $89.

Qurate Retail, Inc. (Nasdaq: QRTEA, QRTEB, QRTEP) has declared a quarterly cash dividend of $2.00 per share on its 8.0% Series A Cumulative Redeemable Preferred Stock. This dividend is payable on September 15, 2022, to stockholders of record as of August 31, 2022. Qurate Retail is a Fortune 500 company operating multiple retail brands and is a leader in video commerce, reaching over 200 million homes globally.

Qurate Retail reported second quarter 2022 results, revealing a 16% revenue decline to $3.0 billion impacted by inflation, supply chain challenges, and a fire at its Rocky Mount, NC fulfillment center. The company's diluted EPS was $0.53, with adjusted EPS at $0.12. Notably, eCommerce revenue fell by 17% to $1.8 billion. Despite these declines, Qurate aims to stabilize revenue through Project Athens, a three-year turnaround plan. Key initiatives include leadership changes, debt reduction via asset monetization, and early signs of revenue stabilization.

QVC and the Housewares Charity Foundation have launched the second annual Living for Giving shopping event, aimed at supporting Feeding America. Running through October 28, 2022, the event features discounted national brand houseware products, with 70% of proceeds aiding hunger relief efforts. In 2021, the initiative raised over $670,000, providing 6.7 million meals to families in need. The campaign emphasizes QVC's commitment to community support and utilizes its extensive vCommerce reach to facilitate donations and awareness for hunger issues in the U.S.