Qurate Retail Inc - QRTEP STOCK NEWS

QVC and the Housewares Charity Foundation have launched their fourth Living for Giving shopping event to support Feeding America. Running through December 20, 2024, across all QVC platforms, the event offers customers discounted national brand houseware products, with a minimum of 70% of the purchase price going towards Feeding America's network of food banks.

A special live broadcast will air on September 25 from 6-8 PM ET, featuring notable brands. In 2023, the campaign generated over $1.1 million, providing more than 11 million meals to people facing hunger. Since 2021, QVC and the Housewares Charity Foundation have helped deliver over 29 million meals to families in need.

QVC, Inc. has launched private exchange offers for its outstanding 2027 and 2028 Notes. The exchange aims to improve QVC's credit profile by reducing debt balances and extending maturity. Eligible holders can exchange their old notes for new 6.875% Senior Secured Notes due April 2029 and cash. The exchange offers will expire on September 20, 2024, with settlement expected on September 25, 2024. The new notes will have identical restrictive covenants to the 2028 Notes and rank pari passu with existing QVC notes. A minimum of $300 million aggregate principal amount of new notes must be issued for the exchange to proceed. The offers are only available to qualified institutional buyers and non-U.S. persons outside the United States.

Qurate Retail, Inc. (Nasdaq: QRTEA, QRTEB, QRTEP) has announced that Greg Maffei, the company's Executive Chairman, will be presenting at the Goldman Sachs Communacopia & Technology Conference. The presentation is scheduled for Tuesday, September 10th at 6:05 p.m. E.T. in San Francisco.

During his presentation, Mr. Maffei may provide insights into Qurate Retail's financial performance and outlook, along with other relevant information about the company. This event offers an opportunity for investors and analysts to gain valuable insights into Qurate Retail's current status and future plans directly from its executive leadership.

QVC has announced an exclusive collaboration with Stacy London, renowned stylist and Q50 Ambassador, launching the 'by Stacy London' apparel collection. Premiering on-air on August 23, the collection is designed to empower women over 50 through fashion, aligning with QVC's Age of Possibility initiative. The line features inclusive sizing from XXS to 3X (0-28) and prices ranging from $39.00 to $150.00.

The collection includes versatile wardrobe staples and statement pieces, incorporating Stacy's signature 'addables' - interchangeable collars and cuffs for customizable looks. This launch marks an important addition to QVC's fashion offerings, aiming to inspire confidence and self-expression in their 50+ customer base.

Qurate Retail, Inc. (Nasdaq: QRTEA, QRTEB, QRTEP) has declared a quarterly cash dividend for holders of its 8.0% Series A Cumulative Redeemable Preferred Stock. The dividend amount is $2.00 per share, payable on September 16, 2024, to stockholders of record at the close of business on September 3, 2024. Qurate Retail is a Fortune 500 company comprising six retail brands: QVC, HSN, Ballard Designs, Frontgate, Garnet Hill, and Grandin Road. As the largest player in video commerce, Qurate Retail Group reaches over 200 million homes worldwide through various channels, including TV, streaming platforms, websites, and mobile apps.

Qurate Retail (Nasdaq: QRTEA) reported a mixed second quarter 2024 performance. Despite a 9% revenue decrease, the company achieved a 4% increase in Adjusted OIBDA. Operating income fell by 55%, totaling $165 million due to the absence of significant gains recorded last year. Qurate's focus on cost management and enhancing product margins helped reduce net debt by $71 million. Key segments experienced revenue declines: QxH down 4%, QVC International down 5% in USD but flat in constant currency, and Cornerstone down 14%. Excluding Zulily, total revenue dropped 5% in USD. The company is optimistic about serving its core demographic, women over fifty, via the QVC Age of Possibility campaign launched in April.

Qurate Retail Group, part of Qurate Retail, Inc. (Nasdaq: QRTEA, QRTEB, QRTEP), has appointed Mara Sirhal as Chief Merchandising Officer for QVC US, its largest business unit. Sirhal brings over 20 years of experience in merchandising, product and brand development, and sourcing. She will report to Mike Fitzharris, President of QVC US, and lead QVC's merchandising strategy across all product categories.

Sirhal will focus on aligning the assortment with QVC's Age of Possibility campaign, targeting women consumers ages 50+. She will oversee the Buying, Planning & Programming organization and the Design Development & Global Sourcing team. Sirhal's appointment is expected to strengthen QVC's position in the marketplace and drive product discovery for its target audience.

QVC has launched Cay Skin, a new inclusive suncare line by Winnie Harlow, premiering on-air and on QVC.com starting July 12, 2024. Targeting women over 50, the line offers daily skin protection with products formulated for various skin tones and conditions. Highlights include the Isle Glow Face Moisturizer, which is silicone-free, non-comedogenic, and features Aloe Vera Leaf Juice and seaweed extract, inspired by Harlow's Jamaican heritage. Customers can tune into QVC's Beauty Revolution show on July 12 at 9:00 p.m. EST to see the exclusive product bundle and shop the collection online.

Qurate Retail (Nasdaq: QRTEA, QRTEB, QRTEP) will release its Q2 2024 earnings on August 8th, before market open, followed by a conference call at 8:30 a.m. ET. The announcement will cover their financial performance and outlook. Detailed results will be available on their website.