Q Talk

[Venezia]

@ValuSkr - QVC does not charge for an item until it ships.  Having said that, in respect of auto-delivery or any other order - if you pay by credit card you have recourse to a refund, in the event the order does not arrive.

For those using a debit card, I have no idea.  I never pay for anything with a debit card.

Someone further up this thread warned those holding gift cards to use them and I think that's very good advice.  Sooner rather than later, just in case.

[pigletsmom2]

I'd really like to know how much shipping charges make up in their revenue. They absolutely refuse to do any kind of free shipping over a certain amouint which would encourage people to buy more stuff. And they obviously encourage people to check out after each item so they don't notice that cost adding up but that also discourages people. They might buy one thing and declare their shopping over.

They're very stuck in the mindset that they're competing against catalog shopping it seems to me. 

[Caaareful Shopper]

Something to consider:

There may be fast & furious price fluctuations now and in the coming months.  QVC/HSN may try to get rid of inventory on some brands by pricing select items down.

I just checked two recent purchases I made on HSN and got back a total of $37+ because the prices on both items dropped within a week.

[ellaphant]

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@michiganfan1 wrote:

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@kaydee50 wrote:

@Sooner Agree 100%.  It seems that all the "Studio Park" collections are depending on which host sponsors.  I see no difference from D&C, SG, KG, etc.  Do people really buy because a particular host is selling the item??

Yes. There are die hard David fans who have said they only buy things when he's on. 

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That's a fraction of what's needed to survive. Q has said they have lost thousands of customers. You need NEW customers to stay afloat.

[DasMEM2]

Sadly, this does not come as a surpise. This company has been poorly managed for quite some time. 

[Spurt]

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@Sooner wrote:

I think part of their issue has been for several years selling on personality rather than item and inventory.  They have huge selections of basically the same garmet with different "brand names".  Which it's the same garmet.

They compete against themselves.  Their factories are the same, items basically the same, and they sell on different names, personalities.  The ignored the buyers basic wants and needs, depended on hype.

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@Sooner 

EXACTLY! Thinking the personality of the hosts (the hosts are your friends, so your shopping with a friend concept), we hear more about their families trip to Disneyland, than information on the product--- color is about the only info given to the viewer! OR celebrity products---Martha Stewart, Candace Cameron clothing, Lisa Rinna, Catherine Zeta-Jones, Ellen DeGeneres, Elton John, Katy Perry Footwear, Rachel Ray, Jenny Garth........And they are all pretty pricey brands too......

And another thing that did them in was the purchase of Zulily in August 2015 for $2.4 billion ($18.75 per share) to bring in merchandise for the the younger demographic and products for young families such as children's clothing and products and to bolster its mobile commerce reach, and utilizing Zulily's flash-sale model. Qurate sold Zulily to Regent in May 2023 after underperformance. But the younger demographic was never QVC's market. Founder Joseph Segel said the target was women aged 50+ a demographic that controls a significant amount of U.S. household wealth about 70% with disposable income, and interests in home goods, beauty, and fashion. 

[They CallMe MRWILKES]

The Restructuring Support Agreement with most debt holders was discussed in a release today.

Total debt will be reduced from $6.6 billion to $1.3 billion.  That's a significant improvement for the balance sheet.  This RSA will allow for emergence in 90 days.

QVC notes that there will be no planned layoffs or furlongs, employees will be paid as normal,  all broadcasts and platforms will operate as normal and all unsecured creditors will be paid in full.

[They CallMe MRWILKES]

According to Court Filings the largest Vendor Unsecured Claims are:

Andrew Lessman:  $10.4 million 

Clarks:  $6.3 million 

JAI:  $5 million 

Beekman:  $3.1 million

Jay King: $3 million

Revitalign: $2.9 million 

[santorini]

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@They CallMe MRWILKES wrote:

The Restructuring Support Agreement with most debt holders was discussed in a release today.

Total debt will be reduced from $6.6 billion to $1.3 billion.  That's a significant improvement for the balance sheet.  This RSA will allow for emergence in 90 days.

QVC notes that there will be no planned layoffs or furlongs, employees will be paid as normal,  all broadcasts and platforms will operate as normal and all unsecured creditors will be paid in full.

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Pardon my ignorance on bankruptcy matters, but does that mean that negotiations were made with the individual companies who QVC owed money to, and they agreed to slash the amounts due by an enormous amount? It seems to me that that would scare off any future vendors. 

[They CallMe MRWILKES]

The debt mentioned is all secured bank loans, bonds, debentures.   Those creditors have agreed to the reductions. 

Vendors and trade suppliers are unsecured and QVC indicates that the unsecured claims will be paid in full.