As it continues to adjust its business model after the QVC and HSN merger, Qurate Retail struggled in a challenging first quarter.
In a fourth quarter when the company continued its integration efforts including those combining HSN and QVC operations, Qurate Retail recorded lower net income but increased sales growth across most of its retail platforms.
QVC has refinanced its senior secured credit facility with a new amended and restated senior secured credit facility.
Qurate Retail Group’s HSN has selected Synchrony as its strategic provider of private label credit card services beginning in August 2019. HSN will replace its current financing provider with Synchrony’s services.
Qurate reported solid sales growth across most of its retail divisions including QVC, while the company said it continues to work on integrating HSN into its operating business structure.
The Qurate Retail Group is taking the Improvements brand and transitioning it into HSN, in a strategic move to create efficiencies and best position the brand for long-term growth, the company said.
Zulily plans to launch its first-ever Thrill Week July 23 to 27, focusing on discounts, exclusive deals and popular brands.
Qurate Retail has made several executive appointments for the Qurate Retail Group, which comprises eight retail brands: QVC, HSN, Zulily, Ballard Designs, Frontgate, Garnet Hill, Grandin Road and Improvements.
After completing a spin off from GCI Liberty and changing its name from Liberty Interactive, Qurate Retail, parent of QVC and HSN among other retail operations, posted first quarter net income of $142 million, or 30 cents per share, versus $91 million, or 20 cents per share, in the year-before period.
Liberty Interactive Corporation is renaming itself the Qurate Retail Group.
Liberty Interactive has completed its acquisition of the remaining shares of HSN in a deal announced this past July.
With QVC expecting its acquisition of HSN to be complete in the coming weeks, the former is moving ahead with plans to reorganize the company’s management team under what will be known as the QVC Group.
QVC has appointed Bob Spieth to evp/customer and business services. In that role, he will lead the customer and business services operations for both QVC and Zulily.
As QVC launches a new beauty network, parent company Liberty Interactive’s QVC Group produced sales and income declines in the third quarter.
Zulily is expanding its operations in the Columbus, Ohio, area to support growth.
Second quarter sales within QVC’s U.S. division grew slightly, but company officials offered a cautious outlook for the remainder of the year, noting a deceleration in demand in the latter part of the quarter.
QVC generated strong sales in its first quarter, with the U.S. division, home and e-commerce categories posting positive results, although…
For the fourth quarter ended December 31, QVC group, part of Liberty Interactive Corp., posted net income for the period…
Liberty Interactive Corporation has completed the acquisition of Zulily and has acquired all remaining shares of Zulily, Inc. (now known…
Liberty Interactive Corporation, the parent company of QVC, has entered into a definitive agreement to purchase online shopping site Zulily.…