8-K
filed March 1, 2023, 6:59 PM ET
ticker QVCGA
CIK 0001355096
earnings
confidence high
sentiment negative
materiality 0.85
Qurate Retail Q4 revenue $3.5B (-13% YoY), full-year net loss $2.6B; appoints Bill Wafford as CFO
QVC Group, Inc.
2022-FY EPS reported
-$6.83
revenue$12,106,000,000
- Q4 revenue $3.5B (-13% YoY); full-year revenue $12.1B (-14% YoY). Diluted EPS $(0.13) Q4, $(6.83) full year; adjusted EPS $(0.05) Q4, $0.15 full year.
- QxH recorded $2.7B non-cash impairment of goodwill and HSN tradename; Zulily recorded $366M impairment. Full-year operating loss $2.0B.
- Bill Wafford appointed CFO of Qurate Retail Group effective March 20; James Hathaway becomes CFO of QVC US; Larry Hayes retiring as GC.
- Sale-leaseback of UK and German fulfillment centers closed Jan 2023 for $182M proceeds.
- No share repurchases from Nov 2022 to Jan 2023; remaining authorization ~$492M.
Key facts
Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
QVC Group, Inc. reported fiscal year ended December 31, 2022 results: revenue $12.1 billion, EPS $(6.83).
- Period
- fiscal year ended December 31, 2022
- Revenue
- $12.1 billion
- EPS
- $(6.83)
- Result
- reported results
Exact text from the filing
● Total Qurate Retail revenue decreased 13% to $3.5 billion in Q4, and decreased 14% to $12.1 billion in full year ● In constant currency (2) revenue decreased 10% in Q4 and 11% in full year ● eCommerce revenue decreased 14% to $2.3 billion or 64% of total revenue in Q4, and decreased 14% to $7.6 billion or 62% of total revenue in full year ● Qurate Retail reported diluted EPS of $(0.13) in Q4 and $(6.83) in full year ● Adjusted diluted EPS (3) of $(0.05) in Q4 and $0.15 in full year
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
QVC Group, Inc. reported fourth quarter 2022 results: revenue $3.5 billion, EPS $(0.13).
- Period
- fourth quarter 2022
- Revenue
- $3.5 billion
- EPS
- $(0.13)
- Result
- reported results
Exact text from the filing
● Total Qurate Retail revenue decreased 13% to $3.5 billion in Q4, and decreased 14% to $12.1 billion in full year ● In constant currency (2) revenue decreased 10% in Q4 and 11% in full year ● eCommerce revenue decreased 14% to $2.3 billion or 64% of total revenue in Q4, and decreased 14% to $7.6 billion or 62% of total revenue in full year ● Qurate Retail reported diluted EPS of $(0.13) in Q4 and $(6.83) in full year ● Adjusted diluted EPS (3) of $(0.05) in Q4 and $0.15 in full year
View on SEC.gov
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