Reply
Respected Contributor
Posts: 3,128
Registered: ‎06-29-2016

Re: QVC Third Quarter 2023 Financial Report

Quite obviously. 

 

Management pointed out the food is a huge revenue driver.

 

Food!  Glorious Food!  More Food Please!

Esteemed Contributor
Posts: 5,907
Registered: ‎06-09-2010

Re: QVC Third Quarter 2023 Financial Report

I think they have cut back on their inventory and raised prices. Many items are selling through. People are buying but waiting for "as is" and Lunchtime Specials. This is the time of the year people are spending on gifts. If you watch, the prices go up and down within a matter of days..I watch the prices on items I have purchased and request price adjustments. 

 

I think the easy pays and free shipping and handling has stoked their sales. I am not sure about their Rewards program. It appears they are trying to up their game for the Q card holders..Their stock.price is 0.6770.

 

This is what I read:

 

Operating income shows a significant improvement moving from a loss in Q3 2022 to.a gain in Q3 2023

Revenue declines by 10% year-over-year but the company expects stable revenues through 2024

Quarte Retail Inc continues to make progress on its Project Athens transformation aiming for a stronger profit and cash flow

The company reported strong adjusted OBIDA growth of over 50% and a significant improvement in their operating income, despite a 10% decline in total revenue compared to the same period in 2022.The company's CEO, David Rawlinson, expressed confidence in the company's ability to navigate the current challenging environment and meet its Project Athens objectives.

Respected Contributor
Posts: 3,128
Registered: ‎06-29-2016

Re: QVC Third Quarter 2023 Financial Report

[ Edited ]

A few interesting tidbits from a 10-Q analysis:

 

During the quarter Qurate actually paid a civil penalty to the Consumer Product Safety Commission relating to the Joy Mangano "My Little Steamer" recall.  Civil penalty of $16 million was made.

 

Focus on lowering costs:  "Qurate Retail is right-sizing its cost base.  Qurate will enhance review of cost savings opportunities,  including workforce reduction."

 

I would not be surprised to see those occur after the holiday shopping season (think February.)

 

More focus on internal owned brands:  "We will focus on growing our private label brands to drive revenue and margins."