Among Friends

[Caaareful Shopper]

The financial news isn't good.  I hope they can survive and thrive.  I want them to survive & thrive.  

However, how long can QVC & HSN (their financial results are reported combined as QxH) keep hemorrhaging revenue? 

QxH had an 8% decrease in revenue.

They experienced a 6% decrease in units shipped, as well as a decrease in shipping and handling revenue.  No wonder they weren't even thinking about rolling out that free shipping promotion to existing customers.  Looks like they may even reduce the paltry free s&h days already scattered through the year.

• Average selling price declined 2%.

• Total customer count declined.

• QxH reported declines in all categories/genres:

Home -- 9%

Electronics -- 11%

Apparel -- 2%

Beauty -- 10%

Accessories -- 10%

Jewelry -- 23%

Total -- 8%

[Johnnyeager]

Wow. Completely disastrous. 

Certainly explains the drive for the new customers promotion. 

Impairment charge on the HSN brandname....recognition that they paid too much

What a free fall in jewelry sales!  Say goodbye to that category. 

And if I shorted the stock I can absolutely be joyful and celebrate these fiscal reports.....

[fthunt]

Thurs candle presentation - 4 people - David & Alberti in panic annoying mode.

Candles cheap and no; flicker at all.......but they were over the top to sell us.

(click).

[Foxxee]

Some of us have been informing QVC of their problems that definitely hurt sales for quite some time.  Sure, there's inflation, people are tightening their belts, but some of these large losses are QVC's own fault. 

Losses have been going on since 2017, before 2020 when prices noticeably began going up and inflation began to pick up steam.  

Thick headed executives not listening to their customers and fixing problems before they get out of hand.  

As expected, they blame outside circumstances, never taking responsibility for their own poor judgement.

It appears to me, they think making customers  angry will cause them to buy more.  Crazy as it is, I found HSN performed much better than QVC.  Who is responsible for most of the losses or are both?

This clearly from those of us predicting QVC's losses... "We told you so."

[chrystaltree]

I don't care.  It doesnn't effect my finances.

[Patriot3]

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@fthunt wrote:

Thurs candle presentation - 4 people - David & Alberti in panic annoying mode.

Candles cheap and no; flicker at all.......but they were over the top to sell us.

(click).

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I saw part of that last night.  Alberti was running around like a chicken without a head in that ridiculous sweater, shouting and carrying on.  Even David seemed a little miffed at the way he was acting.  Yes, there were 4 people at one time on the set selling cheap candles.

Way too much pressure to buy.  It was awful.

[jackthebear]

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@Shanus wrote:

Most of this financial info is lost on me...I'm an arts person, not a math type. I leave that to DH.

I'm not sure if these numbers reflect the recent debacle w/ new customers/free shipping which may have caused the loss of old, good customers (like me) who felt left out and ignored. 

I agree that QVC is so behind the times with their old software, slow shipping, charging for shipping and returns, no real sales (others sites and B&M stores are and have been offering 40%-50% and no shipping charges in both directions), goofy shows that are painful to watch, endless repeated merchandise....Wow! So many reasons they're not doing great.

There are lots of ways to at least keep their heads above water, but they have not and doubtfully will not in the future listen to the customers. 

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agree so much with you,  behind the times,  

[sunshine45]

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@cjm61 wrote:

Wow, and Zulily down 39%.  Ever since Qurate took over Zulily it has gone downhill. I'm not surprised it's failing, but 39%? Yikes.

I hope QVC can pull themselves out of this hole but I know it's not the same QVC of the past and it will become even more drastically different than now, if it succeeds. Wish they would read our comments, perhaps they would see what is needed to help them bring up sales. 

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qurate has owned zulily since 2015.

Zulily leads sales declines at Qurate (again) | Retail Dive

[Sooner]

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@chrystaltree wrote:

I don't care.  It doesnn't effect my finances.

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@chrystaltree I care because when the economy flags it affects ALL of our finances.   It leads to higher interest rates and inflation, all symptoms of failing economy and cutting back or raising taxes. 

[hckynutjohn]

Almost all businesses were effected during, and since, the national shutdown. Certain types of businesses grew substantially during this period, thousands of others have disappeared.

Not a single business can survive without energy, and anyone that doesn't understand what happened in that market, and why! 

hckynut  🇺🇸