Community Chat

[THEY CallMe Mr Wilkes]

The "going concern" announcement was new and issued for the first time this past quarter.

[santorini]

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@THEY CallMe Mr Wilkes wrote:

The "going concern" announcement was new and issued for the first time this past quarter.

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Is that a typo or a new phrase?  I read it but just thought they meant "growing" or "ongoing" concern.

[Etoile308]

Well, once again QVC International fares better than here in the US. 

So what are the differences? From what I've noticed on the times I've checked, they produce a more professional showcase. None of the on-air shenanigans. No singing, dancing, storytelling, prancing, about. No talking over one another, no free for all.

Host, vendor, product displayed and discussed.

Perhaps it's time the entertainment stops.

[THEY CallMe Mr Wilkes]

"Going Concern" is issued by auditors when there are serious doubts about the future viability of the enterprise:

“There are questions about QVC Group’s ability to continue operating as a going concern. As a result of the upcoming scheduled maturity of the Credit Facility on October 27, 2026, there is substantial doubt about the QVC Group’s ability to continue as a going concern.”

It's a very ominous warning from accountants and quite serious.

Paying nearly $3 billion back on one date is no easy task.  All the Free Shipping in the world isn't going to solve that.

[Caaareful Shopper]

This is the second quarterly financial call where QVC Group did not allow questions from analysts.  Another clue to some very serious plans in the works that they need to keep under lock & key with no further discussions about their debt situation.  

They are still hiring hosts.  Lisa Tancredi and at least one other host, Cortney Hicks, are both in training for their host positions.  

Social media is growing much better for them than linear TV, so that total sales focus may come much sooner than we think. 

[elated]

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@Etoile308 wrote:

Well, once again QVC International fares better than here in the US. 

So what are the differences? From what I've noticed on the times I've checked, they produce a more professional showcase. None of the on-air shenanigans. No singing, dancing, storytelling, prancing, about. No talking over one another, no free for all.

Host, vendor, product displayed and discussed.

Perhaps it's time the entertainment stops.

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@Etoile308  I agree with you 100% about all their entertainment being a distraction. When they first started, it was all about the products and their stock price was $30 a share. Now, it has been converted to circus performances with very limited product information. People are moving on.

[stevieb]

People are moving on but it isn't solely about anything. It's a combiation of things. Their model is utterly stale. If they're doing better in foreign markets perhaps part of that is about differing approaches, but a big part of it is foreign markets haven't had as long to begin seeing QVC as having worn out their welcome.

[Walla]

I think part of the problem is the overcharging of products. The cost of  Susan Graver, Kim Gravel, Dennis Basso, Logo, Joan Rivers ...just to name a few, is ridiculous!!!  Some of the same quality can be found at Walmart and Cato for MUCH, MUCH, lower prices. To take $4 or $5 off a price is not a sale!! 

[febe1]

I believe they should have brought in a new CEO long ago. 

Don't have shares, but almost a decline of $10. share and mine would be gone!

How many years do you carry a CEO who hasn't shown an increase in years....

It's just sad to never show increases in anything except "strong performances" in four, but still declines. 

[wakefield64]

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@febe1 wrote:

I believe they should have brought in a new CEO long ago. 

Don't have shares, but almost a decline of $10. share and mine would be gone!

How many years do you carry a CEO who hasn't shown an increase in years....

It's just sad to never show increases in anything except "strong performances" in four, but still declines. 

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@febe1  I agree it is unusual for someone to be kept on top when earnings have been down so long.