About Alsto Inc
Qurate Retail stands by your right to shop at home and online. The company owns and operates market-leading home shopping channel QVC, which sells an average 710 products each week across the home, apparel, beauty and accessories, jewelry, and electronics categories. QVC also sells online. Qurate Retail also runs online businesses including Zulily and online invitation site Evite. It also holds equity stakes in FTD Companies, HSN, and LendingTree, among others. Liberty Interactive acquired the long-standing rival of its QVC business, HSN Inc., for around $2.1 billion in 2017. Liberty Interactive Corp. was formed in 2011 when its predecessor restructured and split off its Liberty Capital and Liberty Starz businesses as Liberty Media which changed its name to Qurate Retail, Inc. in early 2018. The US accounts for majority of sales.
Qurate Retail operates through QxH, QVC International, Zulily and Corporate and other.
QxH accounts more than 60% of the company's total sales. It includes QVC US and HSN, which market and sell a wide variety of consumer products in the US, primarily by means of their televised shopping programs and via the Internet through their websites and mobile applications.
QVC International, which accounts for approximately 20% of sales, markets and sells a wide variety of consumer products in several foreign countries, primarily by means of its televised shopping programs and via the Internet through its international websites and mobile applications.
Zulily brings in over 10% of sales and sells products in the US and elsewhere online through flash sales events, primarily through its desktop and mobile websites and mobile applications.
Qurate Retail viewed LendingTree, Evite and Liberty Broadband as separate components and evaluated them separately for discontinued operations presentation.
The company's home products generates about 40% of total sales followed by apparel for almost 20%. The remaining revenues are produced by beauty, accessories, electronics, jewelry and other products.
Headquartered in Colorado, Qurate Retail rings up almost 80% of its sales in the US. Japan accounts about 10% and Germany produces more than 5% of sales. Other foreign countries generate roughly 5% of sales. QxH unit owns its corporate headquarters and operations center in West Chester, Pennsylvania. QxH also owns call centers and distribution centers in Texas, Chesapeake, Pennsylvania, Tennessee, and Virginia while QVC International owns call centers, distribution centers, and multi-functional buildings in Germany, Chiba-Shi, Japan, Italy and the UK. Zulily leases its corporate headquarters in Seattle, Washington; fulfillment centers in Lockbourne, Ohio, McCarran, Nevada, Bethlehem, and Pennsylvania; and corporate offices in Gahanna, Ohio and Shenzhen, China. Cornerstone owns an office and storage facility in Franconia, New Hampshire. Cornerstone also leases its fulfillment centers in Butler and Warren Counties in Ohio and Phoenix, Arizona.
Sales and Marketing
Flagship subsidiary QVC distributes its television programs through satellite and optical fiber to cable and satellite system providers in the US, Germany, Japan, the UK, and neighboring countries. It also transmits programs via digital terrestrial broadcast television to viewers in Italy, the UK, and certain parts of the US and Germany. Additionally, QVC offers a web-based catalog for retailers.
Some of QVC's clients include Comcast, Cox, Dish Network, DirecTV, Verizon, and AT&T.
The company's consolidated revenue decreased 4% to $13.5 billion for the year ended December 31, 2019. QxH, Zulily and QVC International revenue decreased $267 million, $246 million and $29 million, respectively, during the year ended December 31, 2019, as compared to the same period in the prior year.
Net income incurred a loss of $405 million from $964 million in the prior year.
Cash at the end of 2019 increased by $21 million to $681 million from $660 million in 2018. Cash provided by was $1.3 billion, while cash used for investing and financing activities were $600 million and $661 million, respectively.
QVC's operating strategies are to Curate special products at compelling values; Extend video reach and relevance; Reimagine daily digital discovery; Expand and engage its passionate community; and Deliver joyful customer service. In addition, QVC is exploring opportunities to evolve the International operating model to pursue growth opportunities in a more leveraged way across markets.
To preserve the tax-free treatment of the GCI Liberty Split-Off, the company may determine to forgo certain transactions that might have otherwise been advantageous to their company, including certain asset dispositions or other strategic transactions for some period of time following the GCI Liberty Split-Off. In addition, their potential tax liabilities related to the GCI Liberty Split-Off might discourage, delay or prevent a change of control transaction for some period of time following the GCI Liberty Split-Off.
2335 E 2nd St
Galesburg, IL 61401-6401
Phone: 1 (309) 343-6181
Employer Type: Privately Owned
Employees (This Location): 100
Employees (All Locations): 100