Latest news with #QVCGroup
Bloomberg
31-05-2025
- Business
- Bloomberg
Brookfield Nurses $1.3 Billion Loss in Australia
Welcome to The Brink. I'm Sharon Klyne, a reporter in Sydney, where I'm looking at Brookfield's failed bet on an Australian hospital group. We also have news on disqualified lender lists, QVC Group, New World and EchoStar. Follow this link to subscribe. Send us feedback and tips at debtnews@ Healthscope, an Australian hospital group owned by Brookfield, entered into administration this week, leaving one of the world's largest alternative asset managers nursing an estimated A$2 billion ($1.3 billion) loss, according to people familiar with the matter.
Yahoo
30-05-2025
- Business
- Yahoo
QVC Group details TikTok, social content plans
This story was originally published on Retail Dive. To receive daily news and insights, subscribe to our free daily Retail Dive newsletter. QVC Group hosted its first Super Brand Day on TikTop Shop earlier this month, building on its efforts to expand its reach and investments in social shopping. For eight hours on May 14, QVC Group streamed live content from creators and celebrities on TikTok resulting in its highest viewed and engaged company-hosted livestream to date, a QVC Group spokesperson said. QVC Group plans to expand its TikTok reach internationally, CEO David Rawlinson said during a recent earnings call. Next February, the company will partner with TikTok U.K. Minutes watched on QVC Group's social and streaming platforms grew 26% compared to last year, while streaming monthly active users grew 131%. March was the company's largest non-holiday revenue month. QVC Group said success in its streaming and social businesses is crucial. The company now streams 24/7 on TikTok and cited its most important metric as revenue growth in a recent earnings call. QVC Group estimates the percentage of revenue generated during Q1 through streaming and social platforms was in the mid- to high-single digits. Rawlinson said what's key to the company's social strategy is that it consists of a pre-aggregated audience. 'There are already tens of millions, in some cases, hundreds of millions of people, if not billions, on those platforms,' Rawlinson said on the call. 'And so you get to play in a very growing, large stream of potential customers who are increasingly used to seeing shopping content in their social feeds and who are increasingly converting over to purchases within their social experience. And so that's the magnitude of the opportunity.' Despite QVC Group's financial struggles, the company is going all in on social shopping investments. Among its various social commerce investments, QVC Group's latest targets Gen X. The 'Age of Possibility' platform celebrates women over age 50 with an expanded TikTok partnership and an eight-hour livestream shopping event. Beyond social, QVC Group is tapping into other ways it can broaden customer reach. Through a partnership with American Airlines, travelers can stream QVC+ and HSN+ channels on the airline's free in-flight entertainment platform. Sign in to access your portfolio
Bloomberg
29-05-2025
- Business
- Bloomberg
QVC Bondholders Hire Centerview, Akin as TV Network Struggles
With a wall of debt facing QVC Group Inc., a group of bondholders has hired Centerview Partners as well as Akin Gump Strauss Hauer & Feld as advisers, according to people familiar with the situation. The set of ad hoc creditors has holdings in the television shopping network's Liberty Interactive unit, or Linta, said the people who asked not to be identified discussing a private matter.
Bloomberg
28-05-2025
- Business
- Bloomberg
TV-Shopping Network QVC Seeks Advice on $5 Billion Debt Pile
Television shopping network QVC Group Inc. is huddling with advisers from Evercore Inc. and Kirkland & Ellis to evaluate options to manage some of its more-than-$5 billion of debt, according to people with knowledge of the matter. Holders to a unit of the company are consulting with financial and legal advisers from PJT Partners Inc. and Davis Polk & Wardwell, said some of the people, who asked not to be identified discussing the confidential and early-stage talks.
Yahoo
17-05-2025
- Business
- Yahoo
QVC Group plans reverse stock split, voluntary delisting
This story was originally published on Retail Dive. To receive daily news and insights, subscribe to our free daily Retail Dive newsletter. QVC Group is taking several steps to avoid being delisted from Nasdaq. Shareholders this week approved a reverse stock split at a ratio of 1-for-50, according to a Friday press release. The process is being enacted to regain compliance with a minimum bid price requirement of $1.00 per share for a continued listing on the Nasdaq Capital Market. The split will take place on Thursday after markets close. The live shopping company transferred from the Nasdaq Global Select Market to the Capital Market in late 2024 and warned at the time that it may enact a reverse stock split to regain compliance. QVC Group, which then went by the name Qurate Retail Group, was first warned of a possible delisting last June. As a result of the reverse stock split, QVC doesn't expect that it will meet the continued listing requirements of the Nasdaq Capital Market. Therefore the company will pursue a voluntary delisting from that market, which it expects will take place on or around May 27. QVC Group has applied for its stock to be listed on the OTCQB Venture Market. The completion of the transition is subject to customary conditions and regulatory approval, and there 'can be no assurance' that the stock will be listed on the OTC, according to the company. More information regarding the transfer will be provided at a later date. QVC Group, which owns QVC and HSN, this week reported a 10% year-over-year revenue drop in Q1. Cornerstone, which is comprised of four brands including Garnet Hill and Frontgate, was down 13% for the quarter, which the company attributed to ongoing 'housing market stagnation.' Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
