Q Talk

[Foxxee]

QVC trying to overcome outside forces out of their control along with internal forces; worker shortages, lack of inventory, processing and shipping delays, cost of doing business increases, and competitive retail store reopenings. 

Were they proactive like some of the other retailers or caught with their pants down?

No answers or clues exactly why we saw other retailers facing similar obstacles appeared to be doing much better.  Why couldn't QVC even keep up with its HSN sister?  

Surprised at the increase in apparel since their offerings are generally repetitive. 

Home decor, specifically, Christmas, not a surprise.  Many things were selling out. 

No mention of Gourmet Food that appeared to be selling very well.

I do think "advanced" orders were a big problem with respect to sales during the third quarter because orders are charged when they are shipped, many will be reflected in the 4rth quarter.  

Add to that cancellations of advanced orders.

Despite all their digital platforms, new customers are down again the 3rd quarter.  Instead of putting most of their eggs in younger buyers who are less likely to buy, QVC needs to pay more attention to getting new older buyers and on existing customer retention, but we already knew that.  Retailers forget that everyone ages, their tastes becoming more traditional. There always will be aging shoppers who are more likely to shop at QVC. 

[stevieb]

I guess my first observation is that Qurate must have a mandatory manager's class in corporate-speak that one must pass before moving to a corner office. They all certainly seem to have it down pat...

Several of us have speculated that as the effects of the pandemic on stay at home shopping became less of a factor, Qurate's glowing numbers of the past several quarters would eventually fade, as reports would again begin to reflect less lofty numbers demonstrated over the past decade or so. It seems we're seeing that happening. To be sure, the overall woeful management of supply chain issues and of the overall economy at the national level for the better part of the past year are impacting Qurate, just as they're impacting all retail. Regardless, some of Qurate's order fulfillment issues, pricing and shipping strategies, limited product mix, broadcast and website issues and so on are also coming home to roost as shoppers are at least a bit more confident in leaving their homes to shop.

[Caaareful Shopper]

We don't know how other comparable retailers' financials are doing to be able to compare them to Qurate.  I would not be surprised that other comparable retailers are also seeing decreased results.  

One thing to remember is that Qurate posts its financial results as QxH, which is QVC and HSN combined.  They do not report financials of QVC and HSN separately.  We have no way of knowing if HSN brought the results down or up, or vice versa if it was QVC.