Qurate Retail Inc - QRTEP STOCK NEWS

On March 2, 2022, Qurate Retail, Inc. announced new executive leadership to enhance its video commerce (vCommerce) strategy, focusing on QVC and HSN. President and CEO David L. Rawlinson II emphasized the need for agility and innovation to drive growth. Key appointments include Mike Fitzharris as President of QVC US, Rob Muller as President of HSN, and Mary Campbell to lead a new streaming-focused business unit. The restructuring aims to differentiate brands, improve digital capabilities, and streamline operations to adapt to evolving customer needs.

Frontgate, a leading lifestyle brand, has teamed up with celebrity chef Michael Symon to launch its new Outdoor Kitchen Collection just in time for spring. This collection features over 15 modular pieces designed to enhance outdoor entertaining. Symon will provide exclusive content on frontgate.com, including setup tips and gourmet recipes. The launch will be celebrated at the 2022 South Beach Wine & Food Fest in Miami Beach, Florida. Additionally, Frontgate is donating $25,000 to the Michael D. Symon Foundation, supporting local food banks and hospitality industry employees affected by the pandemic.

Qurate Retail reported disappointing Q4 2021 results with a 9% decline in revenue to $4.1 billion and a full-year revenue decrease of 1% to $14 billion. The company faced challenges, including a 30% drop in Zulily revenue and losses due to a fire at the Rocky Mount fulfillment center, costing approximately $250 million. Diluted EPS was $(0.54) for Q4, while adjusted diluted EPS stood at $0.40. Despite ongoing challenges, Qurate Retail emphasizes the importance of cost control, free cash flow, and potential recovery through future investments.

Qurate Retail, Inc. (Nasdaq: QRTEA, QRTEB, QRTEP) announced a quarterly cash dividend of $2.00 per share for its 8.0% Series A Cumulative Redeemable Preferred Stock. This dividend will be payable on March 15, 2022 to shareholders on record as of February 28, 2022. As a leading player in video commerce, Qurate Retail reaches over 200 million homes globally. The company encompasses multiple well-known brands and continues to expand its presence in various retail sectors.

On February 3, 2022, Zulily launched its exclusive Sunshine Swing Spring Playwear Collection, which features over 60 styles designed by six winners of the #UniquelyZu contest. This collection, available until February 17, highlights the fashion sensibilities of children, capitalizing on a trend where 51% of parents believe their kids have a better style sense. Prices for the collection range from $12.99 to $29.99, targeting outdoor play and summer vibes. The collection aims to enhance children's happiness and confidence through unique clothing options, reflecting their creativity.

Qurate Retail, Inc. (QRTEA, QRTEB, QRTEP) has reported a decline in expected fourth-quarter results, with revenues down 8-9% and adjusted OIBDA down 17-20%. Specific segments show QxH revenue decreasing by 6.5-7.5% and adjusted OIBDA dropping by 22-25%. This downturn is attributed to lower-than-expected demand and compounded by costs associated with a fire at the QVC Rocky Mount fulfillment center. The company plans to discuss detailed results in an upcoming earnings call on February 25, 2022.

QVC announced the launch of J Jason Wu – The Culinary Experience on January 26, 2022. This new collection features cookware and small appliances designed by renowned fashion designer Jason Wu. Key items include a 12" Cast Aluminum Nonstick Pan and an 8-Pc Cookware Set. The collection emphasizes both form and function, aiming to enhance home cooking experiences. The launch will be showcased on QVC digital platforms and on-air. Jason Wu highlighted the collaboration's focus on sleek design and culinary essentials.