Qurate Retail reports $13.5 billion revenue in FY19

Qurate Retail, US based media conglomerate, has reported 5 per cent decrease in revenue to $4.2 billion in fourth quarter (Q4) FY19 compared to same quarter prior year. Revenue for the complete fiscal 2019 that ended on December 31, 2019 fell 4 per cent to $13.5 billion compared to $14 million in FY18. QxH revenue decreased 3 per cent in both Q4 and FY19.

 

Qurate Retail, US based media conglomerate, has reported 5 per cent decrease in revenue to $4.2 billion in fourth quarter (Q4) FY19 compared to same quarter prior year. Revenue for the complete fiscal 2019 that ended on December 31, 2019 fell 4 per cent to $13.5 billion compared to $14 million in FY18. QxH revenue decreased 3 per cent in both Q4 and FY19.#

QVC international revenue increased 1 per cent in Q4 and decreased 1 per cent in full year 2019. Zulily revenue decreased 18 per cent in Q4 and 14 per cent in full year 2019. Cornerstone revenue decreased 6 per cent in Q4 and 7 per cent in full year 2019.

 

Qurate Retail, US based media conglomerate, has reported 5 per cent decrease in revenue to $4.2 billion in fourth quarter (Q4) FY19 compared to same quarter prior year. Revenue for the complete fiscal 2019 that ended on December 31, 2019 fell 4 per cent to $13.5 billion compared to $14 million in FY18. QxH revenue decreased 3 per cent in both Q4 and FY19.#

"Our fourth quarter results were in line with full-year trends, notably we experienced pressure on revenue and margins from the investment in network optimisation at QxH," Mike George, president and CEO of Qurate Retail, said in a press release. 

 

Qurate Retail, US based media conglomerate, has reported 5 per cent decrease in revenue to $4.2 billion in fourth quarter (Q4) FY19 compared to same quarter prior year. Revenue for the complete fiscal 2019 that ended on December 31, 2019 fell 4 per cent to $13.5 billion compared to $14 million in FY18. QxH revenue decreased 3 per cent in both Q4 and FY19.#

In the quarter, QxH reported revenue declines in all categories. For the full year, QxH realised declines in all categories except Electronics. Operating income declined in Q4 ($191 million) and full year ($973 million) reportedly due to an increase in impairment charges at HSN, partially offset by the absence of transaction-related expenses incurred in 2018.

 

Qurate Retail, US based media conglomerate, has reported 5 per cent decrease in revenue to $4.2 billion in fourth quarter (Q4) FY19 compared to same quarter prior year. Revenue for the complete fiscal 2019 that ended on December 31, 2019 fell 4 per cent to $13.5 billion compared to $14 million in FY18. QxH revenue decreased 3 per cent in both Q4 and FY19.#

QVC International revenue in Q4 grew 1 per cent to $775 million while for FY19 it declined 1 per cent to $2,709 million. Qurate Retail reported that for Q4 and full year, QVC International constant currency revenue growth was driven primarily by Japan. Operating income for QVC international expanded in Q4 (12 per cent) and full year (1 per cent), reflecting the closure of operations in France, which was partially offset by lower product margins due to lower shipping and handling revenue and unfavourable returns, as well as higher inventory obsolescence expense, as company reported.

 

Qurate Retail, US based media conglomerate, has reported 5 per cent decrease in revenue to $4.2 billion in fourth quarter (Q4) FY19 compared to same quarter prior year. Revenue for the complete fiscal 2019 that ended on December 31, 2019 fell 4 per cent to $13.5 billion compared to $14 million in FY18. QxH revenue decreased 3 per cent in both Q4 and FY19.#

Zulily revenue declined in Q4 ($452 million) and full year ($1,571 million) reportedly due to lower unit volume driven by a decrease in new customers and lower purchasing frequency from existing customers. Zulily's results were also affected by less efficient customer acquisition spend on certain digital marketing channels. 

 

Qurate Retail, US based media conglomerate, has reported 5 per cent decrease in revenue to $4.2 billion in fourth quarter (Q4) FY19 compared to same quarter prior year. Revenue for the complete fiscal 2019 that ended on December 31, 2019 fell 4 per cent to $13.5 billion compared to $14 million in FY18. QxH revenue decreased 3 per cent in both Q4 and FY19.#

Cornerstone results presented by Qurate include the improvements catalogue business until it was shut down effective December 2018.

 

Qurate Retail, US based media conglomerate, has reported 5 per cent decrease in revenue to $4.2 billion in fourth quarter (Q4) FY19 compared to same quarter prior year. Revenue for the complete fiscal 2019 that ended on December 31, 2019 fell 4 per cent to $13.5 billion compared to $14 million in FY18. QxH revenue decreased 3 per cent in both Q4 and FY19.#

"We are accelerating the execution of our strategic priorities as we work to return to profitable growth. We continue to lead the curation of special products at compelling values across multiple platforms, providing customers an important third way to shop," George said.