Qurate Retail Group Reports Challenging Q3 2024 Earnings

Qurate Retail Group ( (QRTEA) ) has released its Q3 earnings. Here is a breakdown of the information Qurate Retail Group presented to its investors.

Qurate Retail Group is a leading retail company operating in the e-commerce and digital streaming sectors, known for its diverse range of products and strategic focus on social and streaming platforms. In its third-quarter earnings report for 2024, Qurate Retail faced a challenging macroeconomic environment, leading to a 5% decrease in revenue and a 12% drop in adjusted OIBDA, despite maintaining a stable gross margin through cost management. Key financial highlights include a 6% revenue decline in QxH and a 1% dip in QVC International, while Cornerstone saw a 12% reduction. The company also improved its credit profile by tendering 89% of QVC’s 2027 and 2028 notes, partially funded by new senior secured notes. Looking forward, Qurate Retail management remains focused on completing its multi-year Project Athens initiative to enhance profitability and transitioning towards strategic growth in social and streaming platforms.