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Qurate Retail, Inc. reported a 4% decrease in revenue for the first quarter of 2024 but saw improved gross margins, a 40% growth in Adjusted OIBDA, and increased free cash flow. The company is focused on cost reduction, product margin improvement, and brand partnerships. Despite challenges in revenue, the company is on track with its transformation initiatives and aims for sustainable growth.
QVC has signed multi-year contract extensions with SES in Germany and the UK to continue broadcasting multiple HD and SD channels. The partnerships secure capacity on SES's prime neighbourhoods, ensuring a high-quality in-home shopping experience for viewers in key European markets. The extensions highlight the important role of satellite distribution for direct-to-home TV services and underline SES's position as a trusted partner for leading media and entertainment providers.
Iconic American designer Nicole Miller has partnered with QVC to launch the nicole by Nicole Miller collection, featuring timeless apparel inspired by the designer's travels. The collection, priced between $39.00 and $89.00, offers inclusive sizing from XXS to 3X, showcasing a fusion of Nicole Miller's signature aesthetic with QVC's commitment to size-inclusive fashion choices.
Qurate Retail, Inc. will be presenting at the MoffettNathanson Media, Internet & Communications Conference with Executive Chairman Greg Maffei discussing financial performance and outlook in New York City.
