topic Re: QVC, HSN Parent Warned in Community Chat

QVC, HSN Parent Warned

BalletBabe — Mon, 10 Jun 2024 23:52:12 GMT

homeshoppingista

June 10

Some observers have seen this coming for awhile. Nasdaq on Monday gave Qurare Retail Group, owner of QVC and HSN, notice that its stock is at risk of being delisted by that exchange.

It's a warning of possible delisting for failure to satisfy a continued listing rule or standard.

That's because "the closing bid price for the company’s Series A common stock, par value $0.01 per share, has fallen below $1 per share for 30 consecutive business days," Nasdaq said.

In other words, the stock has tanked for a month.

In a securities filing, Quarate said, "Pursuant to Nasdaq Listing Rule 5810(c)(3)(A), the company has been provided an initial compliance period of 180 calendar days, or until Dec. 9, to regain compliance."

To regain compliance, the stock's closing bid price must meet or exceed $1 ar share for a minimum of 10 consecutive business days prior to Dec. 9.

If at any time during this 180-day compliance period the closing bid price meets these requirements, then Nasdaq will provide Qurate with written confirmation of compliance and the matter will be closed.

If the company doesn't regain compliance by the December deadline, it will be eligible for an additional 180-day compliance period if it applies to transfer the listing of the stodkto the Nasdaq Capital Market.

To qualify, Qurate would be required to meet the continued listing requirement for market value of publicly held shares and all other initial listing standards for the Nasdaq Capital Market, with the exception of the minimum bid price requirement.

In addition, the company would be required to provide written notice to Nasdaq of its intent to cure the minimum bid price deficiency during this second compliance period by effecting a reverse stock split if necessary.

If Qurate doesn't regain compliance within the allotted compliance period(s), including any extensions, Nasdaq will provide notice to the company that it will subject to delisting. But that's not final.

Qurate would then be entitled to appeal Nasdaq’s delisting determination.

"The company intends to monitor the closing bid price of [Qurate] and consider its available options to resolve the noncompliance with the minimum bid price requirement," it said. "No determination regarding the company’s response has been made at this time. There can be no assurance that the company will be able to regain compliance ... or will otherwise be in compliance with other Nasdaq listing criteria."

This doesn't mean QVC or HSN are going out of business. But it's not good.

Re: QVC, HSN Parent Warned

Kachina624 — Tue, 11 Jun 2024 03:05:16 GMT

@BalletBabe. Didn't the same thing happen several months ago?

Re: QVC, HSN Parent Warned

Othereeeen — Tue, 11 Jun 2024 00:42:48 GMT

@BalletBabe

Interesting...I think this is the second threatened delisting in the last year...

When I saw your note, I first though they posted a Federal "WARN" notice (" Worker Adjustment and Retraining Notification")...the WARN act...

Which must be posted when employers are going to do a large layoff, close, or otherwise disrupt businesses...they are required to post this notice several weeks in advance...

You can look up WARN notices for your state.....just type in (YOUR STATE) WARN notices and you can see them listed for various companies.

I beleive the requirement is if it's above a certain number of employees employed at a business who will be affectedby layoff.

It's usually listed by month.

Note: There are ALWAYS "WARN" notices posted....companies shed employeesand close all the time and if they meet the requirement to post the notices, they do.

Re: QVC, HSN Parent Warned

Desertdi — Tue, 11 Jun 2024 01:13:27 GMT

It's a Series A (preferred) stock...mostly held inside the company.

Re: QVC, HSN Parent Warned

SharkE — Tue, 11 Jun 2024 02:46:07 GMT

I wish I could buy stock in Chick fil a

Private. Always lined up around the corner down here

Got trade left and right

Re: QVC, HSN Parent Warned

Sooner — Tue, 11 Jun 2024 02:48:53 GMT

On the chopping up. Needs a buy-out or else it seems.

Re: QVC, HSN Parent Warned

BalletBabe — Tue, 11 Jun 2024 02:56:30 GMT

@Kachina624 wrote:
@BalletBabe. D8dn5 the same thing happen several months ago?

@Kachina624 Who is that Kachina?

Re: QVC, HSN Parent Warned

SharkE — Tue, 11 Jun 2024 02:56:51 GMT

If QVC goes out I'll be naked and no jewelry LOL

Be lot more money though . ahhahahahhahahha

Re: QVC, HSN Parent Warned

BalletBabe — Tue, 11 Jun 2024 03:02:58 GMT

@Othereeeen wrote:
@BalletBabe

Interesting...I think this is the second threatened delisting in the last year...

When I saw your note, I first though they posted a Federal "WARN" notice (" Worker Adjustment and Retraining Notification")...the WARN act...

Which must be posted when employers are going to do a large layoff, close, or otherwise disrupt businesses...they are required to post this notice several weeks in advance...

You can look up WARN notices for your state.....just type in (YOUR STATE) WARN notices and you can see them listed for various companies.

I beleive the requirement is if it's above a certain number of employees employed at a business who will be affectedby layoff.

It's usually listed by month.

Note: There are ALWAYS "WARN" notices posted....companies shed employeesand close all the time and if they meet the requirement to post the notices, they do.

I get these things in my email because I belong to Linda Mosses blog. . . I like t because you can ifnd things out faster by being part of it. It is interesting and it is all news from all home shopping channels, not just QVC.

Re: QVC, HSN Parent Warned

BalletBabe — Tue, 11 Jun 2024 03:06:11 GMT

@SharkE wrote:
If QVC goes out I'll be naked and no jewelry LOL
Be lot more money though . ahhahahahhahahha

@SharkE I really hope they don't go under. Their prices are terrible anymore. The thing that makes me wonder is I havebeen sent two survey's in the past two weeks. I have never gotten them before.

Re: QVC, HSN Parent Warned

febe1 — Tue, 11 Jun 2024 06:33:50 GMT

No CEO's want this to happen to a "sucessful" company. We've been looking for good signs of success. This is not a good sign for any company.

It takes a while to turn a big ship around, but this has been way too long.

I don't see good news. And glad I'm not a stock holder. I've had enough losers....

Re: QVC, HSN Parent Warned

Sooner — Tue, 11 Jun 2024 12:20:17 GMT

@SharkE wrote:
If QVC goes out I'll be naked and no jewelry LOL
Be lot more money though . ahhahahahhahahha

@SharkE You have enough jean jackets to last 2 more lifetimes! And enough gold to go with 'em!

Re: QVC, HSN Parent Warned

Rockycoast — Tue, 11 Jun 2024 12:37:43 GMT

Nope, not a good sign at all. This is the second time Qurate stock has gone below the standard isn’t it? They have not been doing well for years. Wonder if TPTB will just go to streaming and ditch the live presentations ‘cause what they are doing isn’t working.

Re: QVC, HSN Parent Warned

They CallMe MRWILKES — Mon, 17 Jun 2024 13:30:58 GMT

They received the first official NASDAQ letter in September 2023.

The Class A Common Shares then traded above $1 for awhile, averting the delisting, but fell again.

Despite what some here say, Qurate was never delisted, but was warned.

QRTEA v QRTEB:

The Series A common stock is broadly held and actively traded. Class A shares outstanding: 397 million held primarily by mutual funds, banks, wealth management firms

The Series B common stock is held by a relatively small number of holders and thinly traded. Class B shares outstanding: 9 million and closely held by several individuals

I wouldn't be surprised to see a CEO shake up soon; twice on his watch!

Re: QVC, HSN Parent Warned

Caaareful Shopper — Tue, 11 Jun 2024 13:35:50 GMT

Not good news at all. I really hope QVC suceeds and thrives, but some of their latest moves have been.....strange.

2nd Qtr financial reports to investors is in early August, I believe. It'll be interesting.

Re: QVC, HSN Parent Warned

katie1859 — Tue, 11 Jun 2024 13:51:48 GMT

In other words, the ship is sinking.

Re: QVC, HSN Parent Warned

CalminHeart — Sun, 16 Jun 2024 11:44:28 GMT

Q was delisted last year. It happen when stock falls below $1.00 a share.

Re: QVC, HSN Parent Warned

febe1 — Sun, 16 Jun 2024 12:30:03 GMT

Either the Q is going in the right direction or the wrong direction.

They're invested highly in this direction. This direction has not shown signs of great success.

How long can they flounder?

They've obviously "given up" on attracting the youth, so they've put their money on thriving on the over 50 plus.

Instead of putting their success on HOSTS, the real way to attract consumers is by WHAT you offer in the way of products, quality, and prices. It's the product, not the hosts.

You might start on your antiquated 7-10 delivery, which you've had for thirty years!

Re: QVC, HSN Parent Warned

They CallMe MRWILKES — Mon, 17 Jun 2024 13:33:49 GMT

Qurate was not delisted.

It received a Nasdaq warning, the stock QRTEA rebounded to $1+ for the required 10 consecutive days during the compliance period, and delisting never occurred.

Now there is a "watch" period for this second warning and notice.

Re: QVC, HSN Parent Warned

mormel20 — Wed, 19 Jun 2024 01:18:01 GMT

I wonder if any the hosts on QVC or HSN owned stock? That would be sad if they had money invested and lost money on it.