Qurate Retail revenue jumps 10% to $3.4 bn in Q2 FY20

Qurate Retail, a US-based media conglomerate and provider of e-commerce services, has reported 10 per cent revenue increase to $3.4 billion in its second quarter (Q2) fiscal 2020 ended on June 30, 2020 compared to revenue of $3.1 billion in same period last year. Operating income for the quarter grew 21 per cent to $405 million (Q2 FY19: $336 million).

 

Qurate Retail, a US-based media conglomerate and provider of e-commerce services, has reported 10 per cent revenue increase to $3.4 billion in its second quarter (Q2) fiscal 2020 ended on June 30, 2020 compared to revenue of $3.1 billion in same period last year. Operating income for the quarter grew 21 per cent to $405 million (Q2 FY19: $336 million).#

“Qurate posted tremendous results, utilising the flexibility of its operating model to meet customers’ changing demands,” Greg Maffei, chairman at Qurate Retail, said in a press release. “These solid operating results, along with the pending sale of one of our green energy investments, is driving a high level of free cash flow.”

 

Qurate Retail, a US-based media conglomerate and provider of e-commerce services, has reported 10 per cent revenue increase to $3.4 billion in its second quarter (Q2) fiscal 2020 ended on June 30, 2020 compared to revenue of $3.1 billion in same period last year. Operating income for the quarter grew 21 per cent to $405 million (Q2 FY19: $336 million).#

Company’s net income for the quarter were $220 million ($118 million). 

 

Qurate Retail, a US-based media conglomerate and provider of e-commerce services, has reported 10 per cent revenue increase to $3.4 billion in its second quarter (Q2) fiscal 2020 ended on June 30, 2020 compared to revenue of $3.1 billion in same period last year. Operating income for the quarter grew 21 per cent to $405 million (Q2 FY19: $336 million).#

QxH reported 7 per cent revenue growth to $2.0 billion ($1.8 billion) in the home, electronics and beauty categories, which were partially offset by declines in apparel and jewellery. Revenue of QVC International jumped 11 per cent to $713 million ($640 million). Zulily revenues increased 16 per cent to $422 million ($363 million). 

 

Qurate Retail, a US-based media conglomerate and provider of e-commerce services, has reported 10 per cent revenue increase to $3.4 billion in its second quarter (Q2) fiscal 2020 ended on June 30, 2020 compared to revenue of $3.1 billion in same period last year. Operating income for the quarter grew 21 per cent to $405 million (Q2 FY19: $336 million).#

While, Cornerstone revenues surged 18 per cent to $277 million ($234 million) due to strong demand in its home brands (Frontgate, Ballard Designs, and Grandin Road), partially offset by weakness in apparel at Garnet Hill. Cornerstone re-opened most of its retail stores by the end of the second quarter.

 

Qurate Retail, a US-based media conglomerate and provider of e-commerce services, has reported 10 per cent revenue increase to $3.4 billion in its second quarter (Q2) fiscal 2020 ended on June 30, 2020 compared to revenue of $3.1 billion in same period last year. Operating income for the quarter grew 21 per cent to $405 million (Q2 FY19: $336 million).#

“Our agile teams responded to the ongoing shifts in consumer needs during this challenging time to deliver engaging and relevant experiences across our e-commerce, video and social platforms. While economic uncertainty remains, our recent results give us confidence that we can generate sustained growth by continued execution of our strategies to offer unique differentiated products and immersive and trusted shopping experiences across all the digital platforms,” Mike George, president and CEO of Qurate Retail, said.