QURATE Officially Changes Name

THEY CallMe Mr Wilkes · ‎06-29-2016

Breaking News: The transformation has begun

ENGLEWOOD, Colo.--Qurate Retail, Inc. (Nasdaq: QRTEA, QRTEB, QRTEP) has officially changed its name to QVC Group, Inc. (“QVC Group” or the “company”). The new name incorporates the brand equity of the company’s largest brand and supports QVC Group’s growth strategy to expand into a live social shopping company. QVC Group, Inc. is a Fortune 500 company with six leading retail brands – QVC®, HSN®, Ballard Designs®, Frontgate®, Garnet Hill® and Grandin Road®. On Monday, February 24, the company’s stock will start trading under the new stock symbols “QVCGA”, “QVCGB” and “QVCGP.

“This rebranding is an important milestone in our nearly 50-year evolution as a collection of leading retail brands,” said David Rawlinson II, President and CEO, QVC Group, Inc. “From the beginning, we’ve been the innovators in live video shopping – first on cable TV, then on ecommerce and mobile. Now, once again, we’re reimagining our company to grow in new places by leaning into streaming and social.”

QVC Group is redefining the shopping experience through video-driven commerce on every screen, from smartphones and tablets to laptops and TVs. QVC Group brings innovative products, compelling content, and unforgettable moments to millions of shoppers worldwide via social platforms, streaming apps, ecommerce sites and TV channels, making every screen a doorway to discovery, delight and community.

Additionally, The QVC Group will implement a reverse stock split on Series A and Series B common stock in order to regain compliance with the minimum bid price requirement for continued listing of the Series A common stock on the Nasdaq Capital Market, if necessary and as previously disclosed.

meallen616 · ‎01-10-2013

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geezerette · ‎03-16-2010

Uh oh. That mention once again of a reverse stock split.

Caaareful Shopper · ‎10-09-2012

@THEY CallMe Mr Wilkes Thank you for sharing the update!

Q4 2024 Financial Earnings Call is in just 5 days. So no matter the results, they seem to be full stream ahead (see what I did there?) with their social media and streaming strategies.

Very interesting.

Estellee · ‎07-12-2011

@THEY CallMe Mr Wilkes Thank you for the updates, always appreciate it.

kaydee50 · ‎02-07-2011

Does it matter what they call themselves? They still need to show they are profitable.

CalminHeart · ‎03-09-2010

A reverse stock split isn't a good sign.

It's usually done by companies with very low share prices to boost their stock price and appear more attractive to investors.

Appearance doesn't matter. It's profits that matter. A reverse split doesn't change anything but price per share.

THEY CallMe Mr Wilkes · ‎06-29-2016

That The QVC Group is "unprofitable" is a persistent forum myth that some love to repeat over and over.

A primary and significant measure of profitability, Net Operating Income, was a positive $153 million 3Q24, basically the same as 3Q23. This is a pure, unadulterated measure of the business, sales revenue minus Operating expenses, including some noncash line items.

An even more telling measure is Cash Flow From Operations, which was positive $313 million 3Q24, even more important as it excludes noncash items.

The "$15 million loss" which dominates headlines and the attention of company detractors, was after income taxes and interest expense. News reports, unfortunately focus and become fixated on it, since it's a negative.

But from a basic measure of the business itself, QVC Group has indeed been profitable.

We shall see if that changes next week.