2024-03-17 23:50:00 ET
Summary
- Qurate Retail's situation has improved thanks to operational improvements, the divestiture of an unprofitable division, and careful cash management.
- QRTEA's debt obligations look more manageable than they did a year ago.
- I'm not convinced that the company's turnaround is complete, but I'm optimistic enough to make Qurate a full position in my portfolio.
Now that we have Qurate Retail's ( QRTEA ) 2023 annual report , I want to provide an update on an article I wrote exactly one year ago that looked at potential bankruptcy scenarios for the company. When my previous article was written, QRTEA had just posted its first year of negative free cash flow in well over a decade and it looked like the company was on the verge of bankruptcy or massive shareholder dilution. QRTEA's situation has improved thanks to operational improvements, the divestiture of an unprofitable division, and careful cash management. QRTEA isn't out of the woods yet, but with its downside better protected, I have made it a full position in my portfolio....
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Qurate Retail: Signs Of A Turnaround