topic Re: X=MAS SALES NOT GOOD in Q Talk

X=MAS SALES NOT GOOD

BalletBabe — Sun, 30 Jan 2022 03:55:29 GMT

QVC, HSN Parent Company Warns Of Lousy Fourth-Quarter Results For Home Shopping Networks

Qurate Retail, the owner of QVC and HSN, is warning investors that preliminary financial results for its fourth quarter are not good.

In a press release last week, Qurate said it "experienced lower-than-anticipated demand in the fourth quarter, negatively impacting expected sales." QxH, the division that includes both home shopping networks, saw its revenue drop an estimated 6.5% to 7.5%.

"Additionally, as previously disclosed, there was a tragic fire at the company’s QVC Rocky Mount fulfillment center in North Carolina on Dec. 18, 2021," Qurate said.

“Revenue performance at QxH deteriorated throughout the fourth quarter, deviating from initial trends indicated on our third-quarter earnings conference call," Qurate's new President and CEO David Rawlinson said in a statement. "We are not pleased with these results and are actively taking steps to improve our long-term performance across business units. We are looking forward to a new leadership approach at QxH and Zulily and the ongoing development of our long-term strategy."

The company will report its official fourth-quarter earnings on Feb. 25.

“Our hearts go out to our team members and the local community affected by the Rocky Mount fire, and we remain engaged in supporting the team members and residents," the CEO said. "We are still assessing the impact of the tragic fire in coordination with our insurance carriers.”

Qurate Retail has property and business-interruption insurance coverage, and is still in the process of assessing damage to the warehouse and inventory. It said it is submitting insurance claims to determine the recovery of certain fire-related costs in connection with the Rocky Mount fire.

QVC received an advance of $100 million from its insurance provider related to initial fire-related costs. Following the fire, QVC diverted incoming fulfillment orders to its other fulfillment centers and will continue to leverage its existing fulfillment center footprint in the near-term to mitigate the impact to business operations.

Re: X=MAS SALES NOT GOOD

Foxxee — Mon, 31 Jan 2022 10:48:36 GMT

@ellaphant wrote:
Foxxee, your comment is incorrect. The New York Times reported despite inflation and supply issues retail sales were up 8.5% from 2020 and on line sales jumped 11.5%. Yes, Q did have a terrible fire but it was quite late in the shopping season. They need to rethink their overkill of pajamas and gourmet food offerings. Its obviously not working.

@ellaphant

This from Fox Business and US News.

Retail sales unexpectedly fell in December as consumers pulled back on spending

U.S. retail sales unexpectedly declined in December, suggesting that consumers are pulling back on spending as they face surging prices and an acceleration in COVID-19 infections.

The value of total sales decreased 1.9% from the prior month, the Commerce Department said Friday, marking the steepest drop in 10 months.

INFLATION SURGES 7% IN DECEMBER, HIGHEST IN 40 YEARS.

The so-called core retail sales, which excludes automobiles, gasoline, building materials and food services and is most closely correlated with the consumer spending aspect of the nation's gross domestic product, tumbled 3.1% last month.

"December was a rough month for the American consumer," said Anu Gaggar, global investment strategist for Commonwealth Financial Market.

"Between higher prices, empty shelves, consumers sick from omicron, and holiday shopping pulled forward, retail activity declined even more than expected, and November numbers were also revised lower."

The government reported earlier this week that the consumer price index climbed 0.5% in December, bringing the year-over-year gain to 7%, the highest since June 1982. Wholesale prices also increased, rising 0.2% in December and 9.7% in a 12-month period, the fastest pace since record-keeping began in 2010.

Restaurants and bars, which saw a stunning 41.3% annual gain in 2021, declined 0.8% in December as more Americans stayed home amid an unprecedented virus surge. Gas stations, meanwhile, saw a 41% surge in sales, but fell 0.7% in December. Gasoline prices fell 0.5% in December.

Just two categories saw sales increase in December: miscellaneous store retailers, up 1.8%, and building materials and gardening centers, which grew by 0.9%.

The data comes as the Federal Reserve looks to combat hotter-than-expected inflation by aggressively tightening monetary policy.

It's reported retail sales were down everywhere during December because of inflation; however, I think some of this can be blamed on QVC and HSN.

More to come until someone fixes the problems and, yes, most of both can be fixed.

Re: X=MAS SALES NOT GOOD

ellaphant — Sun, 30 Jan 2022 05:10:53 GMT

Foxxee, your comment is incorrect. The New York Times reported despite inflation and supply issues retail sales were up 8.5% from 2020 and on line sales jumped 11.5%. Yes, Q did have a terrible fire but it was quite late in the shopping season. They need to rethink their overkill of pajamas and gourmet food offerings. Its obviously not working.

Re: X=MAS SALES NOT GOOD

Kachina624 — Sun, 30 Jan 2022 05:20:56 GMT

Considering the quality of the programming since Christmas, things aren't going to get better anytime soon. This weekend is typical; a day of mattresses and athletic equipment with Rick and Kirsten at their unbearable best. How many people are going to sit and watch this deadly boring fare?

Wake up QVC!

Re: X=MAS SALES NOT GOOD

bonnielu — Sun, 30 Jan 2022 05:31:34 GMT

I check in but usually don't watch. When I do I see the same stuff over and over. I see high prices of items I can buy elsewhere with no shipping cost. I hear sales pitches that tell me I better buy now since the price is about to go up. I rarely watch anything that actually focuses on the product itself. Too much chatter about nothing. And if an item is something I may want I go directly to the Internet to see if I can get it elsewhere at a better price or another product just like it.

Re: X=MAS SALES NOT GOOD

on the bay — Sun, 30 Jan 2022 09:23:46 GMT

@bonnielu,

It's so true. Even if I like something on QVC, I will definitely go online to find it at a lower and more reasonable price elsewhere most of the time.

I do however have many times bought something of Valerie Parhill

s and used to from Kirk's Folly. But their prices have gone overboard recntly too. Inflation blah blah blah-on QVC things have been overpriced for several years.

Re: X=MAS SALES NOT GOOD

LizzieInSRQ — Sun, 30 Jan 2022 10:53:55 GMT

I don't understand why people want QVC to fail. This thread comes off that way to me.

I don't get it.

Re: X=MAS SALES NOT GOOD

ellaphant — Sun, 30 Jan 2022 11:16:48 GMT

The New York Times 12/26/21

Holiday sales soared, with e-commerce notching huge gains, a report says.

Holiday Retail Sales Soared, With E-Commerce Notching Huge Gains - The New York Times (nytimes.com)

Re: X=MAS SALES NOT GOOD

ID2 — Sun, 30 Jan 2022 11:30:44 GMT

Who even shops shopping channels anymore? That is soooo 80's! I used to shop the Q so much long ago but don't anymore. I'd rather shop in my local boutiques and shops. I'd rather put my money in the pockets of those who are struggling instead of the big store execs that are looking to buy their next private jet. SMH

Re: X=MAS SALES NOT GOOD

CalminHeart — Sun, 30 Jan 2022 13:13:30 GMT

I'm not surprised at this alert from Q. Yes, the fire affected them. But other things were key factors.

The biggest problem is their programming. They keep showing the same dozen or so products (or variations of) week after week, month after month. It can't get much more boring.

Q sells products that aren't able to be shipped in a reasonable amount of time. Reasonable to me means a max of 1 week for products in their warehouses and a max of 2-3 weeks when shipping from a vendor. This is still slower than other retailers.

Slower than molasses returns processing is a problem.

Back-ups in shipping ports was another issue. There is still some delay but not like there was during the 4th quarter.

And let's not forget that almost everything Q sells can be found for lower prices, free shipping/returns, promo codes, elsewhere.

Re: X=MAS SALES NOT GOOD

carlycat — Sun, 30 Jan 2022 13:58:14 GMT

I'm sure their Christmas sales record will improve once people start receiving their December orders! *slow shipping *

Re: X=MAS SALES NOT GOOD

on the bay — Sun, 30 Jan 2022 14:13:43 GMT

@ellaphant wrote:
The New York Times 12/26/21
Holiday sales soared, with e-commerce notching huge gains, a report says.
Holiday Retail Sales Soared, With E-Commerce Notching Huge Gains - The New York Times (nytimes.com)

Holiday Retail Sales Soared, With E-Commerce Notching Huge Gains - The New York Times (nytimes.com)

I read too that consumer spending was up during the holidays but I don't think that includes QVC, maybe reporting on other stores and online, not live shopping channels.

And I don't want QVC to fail but I do wish they would listen to so many of the complaints so many of us have.

I don't want them to be super successful on how they are modeling their business now- and by that I mean just all the complaints that we have had over and over-matching yes how often the same products are shown over and over-

I want them to realize that they are doing things that are not making them successful and to change these practices.

Here's some-

"Sales" that aren't sales at all,

the prices that are way above what other retailers have for the same or better quality,

lack of quality control,

slow shipping and not much communication after buying something,

returns that are difficult,

high shipping costs both ways and shipping in individual packages for the same order,

manic unappealing hosting training,

lack of new or relevant products,

showing the same things over and over and for too long a time,

Not including enough detail to let customers make an informed decision.

I'm sure there are more.

I don't know anyone else who actually does use a shopping channel to buy things-any shopping channel so maybe it is a thing of the past.

I'm also not an enthusiastic online shopper or live tv shopper either -I've only ever bought from QVC or HSN,

and these days rarely watch so rarely buy because of manic host selling really and prices and everything else.

I am definitely not interested in even checking out others. I guess I never have been really. Just came across QVC one late night, years ago and it was nice then and fun and good company too.

I don't want to see QVC go away. just wish they would make a comeback with so many of the things so many of us loved about it before.

When it really did have quality, value, and convenience!

Re: X=MAS SALES NOT GOOD

millieshops — Sun, 30 Jan 2022 14:24:56 GMT

maybe lots of QVC shoppers bought their holiday decor in July? Or maybe lots of use who have been buying shopping channel for decades now have just quit adding more stuff we know no one in our families want when we don't.

Last time I bought anything holiday I am pretty sure it was JULY and Christopher Radko was offering lots of my kind of ornaments -- animals, cars, Santa Claus. That had to be at least 8 years ago and before that I put together the only collection of ornaments I use year-round-- my Joan Rivers eggs even now fill the crystal bowl in the center of my dining room table.

I have offered everything to the next 2 generations in my family and had no takers. New holiday decor for me would be a poinsettia or maybe an amaryllis, nothing to add to corners on any storage shelves!

Re: X=MAS SALES NOT GOOD

on the bay — Sun, 30 Jan 2022 14:34:50 GMT

There does seem to be conflicting reports about spending-some news sources focusing on inflation and drops in spending and some saying holiday consumer spending soars.

It can't be both.

I do think too that a lot of people maybe are spending more on what is needed-food, rent or necessities rather than more stuff they no longer want or need.

Re: X=MAS SALES NOT GOOD

Deeze — Sun, 30 Jan 2022 14:44:04 GMT

I don't know about anybody else but I am tired of seeing Christmas items from July to the end of th year.

Re: X=MAS SALES NOT GOOD

Daludog — Sun, 30 Jan 2022 16:18:37 GMT

I think this was the first year i didn't even tape, or try to watch Valerie par hill xmas shows. Her items just keep getting more outdated, and the same every year. When i do buy from her, it usually ends up being too cheap looking and i return it. i have found the same to be true of denim and co. The same old stuff in awful color selections. Peace love world is just to 'out there" for me and tends to be cheap fabric. I spent a lot of time online at other shopping sites, grandin road, pottery barn, williams and sonoma. and i used some items on " After pay". I would rather buy better and pay more, then less and end up returning or throwing away.

Re: X=MAS SALES NOT GOOD

cindyNC — Sun, 30 Jan 2022 16:45:54 GMT

I wonder if they can even compete price wise with other stores and still be successful.

Most of my recent shopping has been done online at Macy's. I also shop online at Bealls, Belks, HSN, sometimes Norstrom.

Belks prices are consistently high even when an item is on sale - they used to be a family owned business but were sold.

Re: X=MAS SALES NOT GOOD

Snoopp — Sun, 30 Jan 2022 17:25:27 GMT

I'm not surprised. QVC is not known for competitive pricing.

Re: X=MAS SALES NOT GOOD

Kachina624 — Sun, 30 Jan 2022 17:52:02 GMT

@LizzieInSRQ wrote:
I don't understand why people want QVC to fail. This thread comes off that way to me.

I don't get it.

@LizzieInSRQ I don't get that feeling at all. I feel kind of helpless watching QVC self-destruct while I feel I know what they're doing wrong. Because I have mobility issues, I depend on them (and Amazon) for much of what I buy, not to mention the social interaction here. Failure is the last thing I want for this company.

Re: X=MAS SALES NOT GOOD

Johnnyeager — Sun, 30 Jan 2022 18:00:10 GMT

You don't need to broadcast in order to be a successful on-line retailer.

I would axe broadcasting completely, achieve substantial cost reductions from that action and focus on the website, where they might then stand a chance of becoming price and shipping competitive.

My personal view.