Welcome to our dedicated page for Qurate Retail news (Ticker: QRTEA), a resource for investors and traders seeking the latest updates and insights on Qurate Retail stock.
Qurate Retail, Inc. (Nasdaq: QRTEA) generates a steady flow of corporate and brand-related news tied to its role in electronic shopping and video commerce. As the parent of QVC, HSN, Ballard Designs, Frontgate, Garnet Hill and Grandin Road, the company issues announcements that cover financial performance, strategic initiatives and developments across its portfolio.
Investors following QRTEA news can expect regular earnings releases and conference call announcements, where Qurate Retail discusses segment results for QxH, QVC International and Cornerstone, as well as metrics such as revenue trends, operating income and Adjusted OIBDA. The company also reports on capital structure actions, including note tenders, new senior secured note issuances and updates on leverage ratios and debt covenants.
Qurate Retail’s news flow also includes dividend declarations on its 8.0% Series A Cumulative Redeemable Preferred Stock, specifying quarterly cash dividend amounts and key record and payment dates. Listing and compliance updates, such as the transfer of its securities to the Nasdaq Capital Market and communications related to minimum bid price requirements, are disclosed through formal press releases.
From an operational and strategic perspective, Qurate Retail and Qurate Retail Group announce growth strategies and brand initiatives, including plans to focus on live social shopping and the intention to rebrand Qurate Retail Group as "QVC Group." Brand-level releases from QVC highlight new product collections, partnerships with designers and experts, and expansions of beauty, wellness and home assortments that operate under the Qurate umbrella.
This news page for QRTEA brings together these types of updates, allowing readers to review corporate announcements, portfolio brand news and capital markets disclosures in one place and to track how Qurate Retail communicates its strategy and performance over time.
QVC has announced a commitment to enhance accessibility in its shopping experience, appointing Selma Blair as its Brand Ambassador for Accessibility. The company has launched an Accessible & Adaptive category, featuring a wide range of products to meet the needs of customers with disabilities. An on-air show called Accessible Living will focus on simplifying daily tasks. QVC aims to improve all customer interactions by increasing awareness of adaptive features and engaging with the disability community. The initiative is part of QVC's broader goal to foster inclusive shopping experiences for all consumers.
Qurate Retail Group has appointed Bill Wafford as its new Chief Financial Officer, effective March 20, 2023. With over 25 years of corporate finance experience, Wafford's background includes leadership roles at companies like JCPenney and Everlane. He will report to David Rawlinson II, CEO, who noted that Wafford's expertise aligns with the company's multi-year growth plan focused on strengthening the core business and advancing in the video streaming commerce space. James Hathaway will continue as CFO for QVC US, enhancing continuity during the company's transformation efforts.
Qurate Retail reported challenging fourth quarter and full-year 2022 results with total revenue decreasing 13% to $3.5 billion in Q4 and 14% to $12.1 billion for the full year. The company faced impacts from a 2021 fulfillment center fire and macroeconomic pressures that weakened consumer demand. Diluted EPS was $(0.13) in Q4 and $(6.83) for the full year. Despite a structural reorganization and actions to cut costs and reduce excess inventory, all main revenue segments, including eCommerce and international sales, recorded declines. The company aims for operational improvement and has appointed Bill Wafford as CFO, effective March 20, 2023.
Qurate Retail, Inc. (NASDAQ: QRTEA, QRTEB, QRTEP) announced that David Rawlinson, President & CEO, will present at the Bank of America Consumer & Retail Conference on March 14 at 2:40 p.m. E.T. The presentation will cover the company's financial performance and outlook. Interested individuals can register for the live webcast on the Qurate Retail website, with an archive available post-event. Qurate Retail operates several leading brands, including QVC® and HSN®, reaching over 200 million homes globally through various platforms.
Ballard Designs has launched its first stand-alone retail store in Mount Pleasant, South Carolina, marking the brand's entry into the state. The new store, which spans almost 9,000 square feet, is part of a multi-year expansion plan encompassing 13 states and 19 locations. Positioned near historic downtown Charleston, the store offers indoor and outdoor furniture, design services, and a variety of home décor products. Open daily from 10 a.m., the store aims to cater to both home enthusiasts and professional designers.
Qurate Retail Group has initiated a celebration of Black-owned businesses during February to honor Black History Month. The company has launched several brands across its platforms, including QVC and HSN, featuring products from culinary, beauty, and fashion sectors. Notably, Bouffants & Broken Hearts offers vibrant apparel, while LYS Beauty focuses on clean cosmetics for all skin types. Celebrity chef Lorna Maseko has introduced a cookware line at HSN, promoting stylish, functional kitchen essentials. Additionally, ChicNiCity presents a clothing collection that reflects cultural heritage. Qurate aims to support diversity, equity, and inclusion through these initiatives.
QVC, a leader in video commerce, launched a new performance wear line called Gymwrap, co-founded by Nicole Ari Parker and Boris Kodjoe, on February 21, 2023. This activewear collection is tailored for women with busy lifestyles, featuring a range of products including headbands, T-shirts, leggings, and jackets, priced between $22 and $54. The couple will debut the line live on QVC on February 24, 2023. This collaboration emphasizes size inclusivity and affordability, catering to the unique needs of women, particularly in relation to hair protection during exercise. The launch aligns with QVC's commitment to empowering women through curated fashion offerings.
Qurate Retail, Inc. (NASDAQ: QRTEA, QRTEB, QRTEP) announced a quarterly cash dividend of $2.00 per share on its 8.0% Series A Cumulative Redeemable Preferred Stock. This dividend is payable on March 15, 2023, to stockholders of record as of February 28, 2023. The company is a leading player in video commerce, reaching over 200 million homes globally through its various retail brands, including QVC and HSN.
Qurate Retail Group announced that 22 of its team members received the 2023 BEYA Modern-Day Technology Leader award at the 37th Annual BEYA STEM Conference. This recognition, awarded by the Career Communications Group, highlights outstanding performance in STEM fields. The awardees represent various roles from Information Technology to Customer Service across Qurate's brands, including QVC and HSN. Vice President Virginia Nguyen emphasized the company's commitment to diversity, equity, and inclusivity in STEM careers. Qurate also sponsored the conference, enhancing its focus on attracting diverse talent in the industry.
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