Qurate 2nd Qtr. 2022 Results

Caaareful Shopper · ‎10-09-2012

Some highlights (you can click the Qurate link at the bottom of the QVC website if interested in much more detail):

Unless otherwise noted, the following discussion compares financial information for the three months ended June 30, 2022 to the same period in 2021.

(amounts in millions)

2Q21	2Q22	% Chg
Revenue
QxH	$1,989	$1,754	-12%
QVC International	$791	$638	-19%
Zulily	$397	$220	-45%
Cornerstone	$327	$341	4%
Total Qurate Retail Revenue	$3,504	$2,953	-16%

QxH

QxH revenue declined primarily due to a 9% decrease in units shipped, reflecting supply chain challenges and downstream impacts from the December fire at its Rocky Mount, NC fulfillment center, weakened consumer sentiment due to inflation and a decrease in shipping and handling revenue. Average selling price declined 3% reflecting a mix shift away from higher price point electronics. Although total customer count declined, QxH experienced a 5% increase in average spend per customer and an 8% increase in items purchased per customer. QxH reported declines primarily in home, electronics, beauty and accessories.

They are still not breaking up financial reports by QVC vs. HSN yet. It's still reported as QxH, combined.

Johnnyeager · ‎09-05-2014

I don't see them reporting QVC and HSN separately again.

They now treat each as a "brand" with a brand manager within the combined entity.

Tori3569 · ‎06-27-2010

Unfortunately, there are very few retail companies that are up this year in comp sales or comp traffic. The fact that QVC has a higher average ticket this year is a good sign for them, however.

Johnnyeager · ‎09-05-2014

That's inflation.

Kachina624 · ‎03-10-2010

"...a decrease in shipping and handling revenue."

Look out, s&h will probably be going up soon.

New Mexico☀️Land Of Enchantment

Kachina624 · ‎03-10-2010

Wow, Qurate has really ruined Zulily. They were going like gangbusters until Qurate bought them. They seem to have lost many of their more interesting vendors. I bought some really nice home and decor items back in olden days from vendors that I no longer see there. Too many cheap, poor quality clothes.

New Mexico☀️Land Of Enchantment

pupwhipped · ‎03-11-2010

Yes, poor Zulily. 😲 Over the last few years I've bought lots of things from them...mostly really cute home decor and some jewelry. But I've definitely noticed lately that their prices are no bargain whatsoever! Just as one example, there was a time you could get good discounted prices on Or Paz jewelry. Now the prices on Zulily can be more then even at QVC! Uhhh, no thanks.

Tori3569 · ‎06-27-2010

@Johnnyeager wrote:
That's inflation.

It's not all inflation if the average items per sale are up 8% as well,

BalletBabe · ‎03-05-2011

IMO QVC is on the way out. Prices on Clothing is ridiculous, X-Mas in Jul was the worst I have ever seen. If S&H goes up they will lose even more, The Hosts running around doing Ballet and won't stop talking about themseves has turned me off. Why does Issac have a bow in his hair? The professionalism in this company os gone. The prices are terrible and the shipping issues have already made many leave.

The products are not quality anymore. Nothing is new and interesting. Hate to be the Debbie downer but Idon't see things improving but getting worse each month.