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.
On January 11, 2021, Zulily released findings from a survey highlighting the evolving ways moms express love during the pandemic. The survey revealed that 55% of moms feel they've spent too much time with their partners and seek "me time" as a crucial gift this Valentine's Day. Significantly, 70% of moms crave quality time with their partners, although this now often means being in the same room while engaging in separate activities. New love languages have emerged, with humor and household chores taking center stage. The survey was conducted with 1,006 U.S. mothers in December 2020.
Qurate Retail, Inc. (Nasdaq: QRTEA) announced a special cash dividend of $1.50 per common share, totaling approximately $626 million, payable on December 7, 2020. Additionally, the company initiated a buyback program for its Series A common stock, with authorization of roughly $497 million. This move aims to return free cash flow to shareholders while maintaining leverage targets. Furthermore, a quarterly cash dividend of $2.01643836 per share of Preferred Stock has been declared, payable on December 15, 2020.
Qurate Retail, Inc. (Nasdaq: QRTEA) has announced a semi-annual interest payment of $20.00 per $1,000 on its 4.0% Senior Exchangeable Debentures due 2029, along with an additional distribution of $0.3930 per Debenture. The payment is scheduled for November 16, 2020, for holders recorded by November 1, 2020. This follows an Extraordinary Additional Distribution of $63.0960 made on August 7, 2013, and does not affect the semi-annual interest payments, which will remain at 4.0% of the original principal amount. Adjustments to the principal will be made accordingly.
Zulily has launched a campaign to celebrate Mrs. Claus, recognizing her as an emblem of the strength and resilience of women, especially mothers. The campaign includes a Change.org petition advocating for Mrs. Claus to receive more recognition. A survey reveals that 88% of moms view their role as primarily 'givers', while 70% feel underappreciated during the holidays. Zulily aims to highlight the responsibilities that mothers carry, with 74% saying they provide most emotional support during the holiday season. The campaign reflects a broader movement to validate the contributions of all women.
QVC announces the launch of a size-inclusive fashion line, J Jason Wu, designed by renowned fashion designer Jason Wu, available on QVC.com starting November 11, 2020. The collection offers sizes ranging from 5X to XXS and includes a variety of clothing options like suiting, dresses, and everyday staples. Jason Wu will make his first live appearance on QVC on November 13 to discuss his collection. Prices for the line will range from $44 to $120, emphasizing QVC's commitment to inclusive fashion.
Qurate Retail, Inc. (Nasdaq: QRTEA) reported strong third quarter 2020 results, with revenue up 10% to $3.4 billion and adjusted OIBDA rising 24% to $566 million. The company's eCommerce revenue grew 15%, now comprising 62% of total revenue, reflecting increased customer engagement. Diluted EPS stands at $0.80 and adjusted diluted EPS rose 36% to $0.57. Qurate Retail also paid a special dividend of $1.50 per share on September 14, 2020, alongside issuing preferred stock. Despite challenges in some segments, overall performance shows resilience and strategic growth in the retail market.
LG Electronics USA has launched the Shop Time app for LG Smart TVs, allowing users to purchase items directly from popular video retailers like QVC and HSN. The app, compatible with LG Smart TVs from 2016-2020, enhances the shopping experience by enabling users to save items and receive tailored product recommendations. New HSN customers can benefit from a $20 digital coupon on purchases over $40 until November 30. This initiative aims to streamline the shopping process and expand the reach of Qurate Retail Group, enhancing their connection with LG viewers.
Qurate Retail, Inc. (Nasdaq: QRTEA) will host its annual Investor Meeting on November 20, 2020, starting at 9:00 AM M.T. The virtual meeting is open to shareholders, analysts, and press, with registration available on the company's website. Presentations will focus on financial performance and future outlook, followed by a Q&A session with key executives, including Chairman Greg Maffei and CEO Mike George. Questions can be submitted via email by November 13, 2020. A webcast archive will be available post-meeting for one year.
On October 12, 2020, Qurate Retail Group announced the launch of a new cooking show, Travel, Cook, Repeat with Curtis Stone, debuting on October 13 on the QVC/HSN streaming service. The show features Chef Curtis Stone exploring global flavors and sharing easy-to-follow recipes. With six episodes available on-demand, viewers can shop for Stone's cookware directly on HSN.com. The combined streaming service, launched in August 2019, reaches around 45 million homes and has become a popular platform. Stone's brand has sold over 2.5 million Dura-Pans, showcasing significant growth.
Qurate Retail will host a conference call on November 5, 2020, at 8:30 a.m. EST to discuss its third-quarter results. The earnings report will be released after market close on November 4, 2020. CEO Mike George and Executive Chairman Greg Maffei will lead the call, offering insights into the company's financial performance and outlook. Interested parties can access the live broadcast via the Qurate Retail website and find links to the press release and call replays. This conference follows a regular practice of Qurate Retail to communicate financial results and engage with stakeholders.