QRTEA - Qurate A Non-GAAP EPS of $0.05 misses by $0.12 revenue of $3.5B misses by $10M
- Qurate A press release ( NASDAQ: QRTEA ): Q4 Non-GAAP EPS of $0.05 misses by $0.12 .
- Revenue of $3.5B (-14.6% Y/Y) misses by $10M .
- “2022 was a challenging year for the company. We faced downstream impacts from the December 2021 fire at our Rocky Mount fulfillment center throughout the year, while also experiencing macro pressure that impacted consumer demand,” said David Rawlinson, President and CEO of Qurate Retail. “We have taken action to strengthen the balance sheet, improve execution and aggressively cut costs, including meaningfully reducing excess inventory and undergoing a structural reorganization. These efforts are part of a multi-year strategic plan for financial and operating improvement that will begin to materialize in the coming quarters. Today, we announced Bill Wafford as Chief Financial Officer of Qurate Retail Group and have the management team in place to execute. We believe we are entering 2023 in a healthier position with operating discipline to achieve our financial targets.”
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Qurate A Non-GAAP EPS of $0.05 misses by $0.12, revenue of $3.5B misses by $10M