"Our first quarter results demonstrate the continued momentum in our turnaround. We expanded gross margins for the fourth consecutive quarter, increased Adjusted OIBDA over 40% as reported for the third consecutive quarter of growth, and improved free cash flow year-over-year for the fifth consecutive quarter," said David Rawlinson, President and CEO of Qurate Retail. "We are successfully delivering on our transformation initiatives to reduce costs and improve product margins while prioritizing enhanced mer ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-33982 QURATE RETAIL, INC. (Exact name of Registrant as specified in its charter) State of Delaware WASHINGTON, D. C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 (State or other juris ...

Financial Data and Key Metrics - Adjusted OIBDA grew 45% YoY, marking the third consecutive quarter of growth [31] - Free cash flow improved for the fifth consecutive quarter, with Q1 free cash flow at a use of $27 million compared to a use of $70 million last year [7][22] - Gross margin expanded by approximately 400 basis points, the fourth consecutive quarter of expansion [31] - QxH customer count declined 3% YoY, but new customer growth on a trailing twelve-month basis increased by 7% [11][12] - QVC International revenue declined 1%, with adjusted OIBDA increasing 10% and margin expanding 90 basis points [14][21] Business Line Performance - QxH revenue declined 4%, with growth in accessories (+5%) and jewelry (+4%) offset by declines in home (-7%) and apparel (-4%) [20][44] - Beauty revenue declined 3% at QVC but remained strong at HSN [9] - Cornerstone revenue declined 11%, but adjusted OIBDA grew 50% due to lower supply chain costs [46] - Streaming revenue, total minutes viewed, and monthly average users all grew in double digits in Q1 [37] Market Performance - QVC UK led international performance with high single-digit revenue growth, while Japan grew in low single digits and Germany declined mid-to-high single digits [21] - The UK saw strong demand across all categories, particularly in home, driving adjusted OIBDA improvement [14] - QVC International experienced growth in home but declines in jewelry and apparel [21] Strategy and Industry Competition - The company launched the "Age of Possibility" initiative targeting women over 50, a demographic with high discretionary income and control over 95% of household purchase decisions [40][41] - QVC is leveraging its Q50 ambassadors, who have a combined social following of 78 million, to drive engagement and sales [8][32] - The company is focusing on operational efficiencies, including supply chain cost reductions and improved inventory health, through initiatives like Project Athens [6][45] Management Commentary on Operating Environment and Outlook - Management noted that consumers are buying closer to the event and later in the season, impacting seasonal categories like gardening and outdoor decor [33][65] - The company remains optimistic about sustaining free cash flow improvement and addressing near-term debt maturities [48][75] - Management highlighted the stabilization of customer counts and the positive momentum in new customer acquisition [11][12] Other Key Information - The company redeemed $423 million of QVC 4.85% senior secured notes due in 2024, funded through the QVC revolver [47] - Total cash stood at $1.1 billion, with $311 million at QVC Inc, $464 million at Liberty Interactive LLC, and $248 million at Qurate Retail Inc [23] - The leverage ratio was 2.5x, with covenant OIBDA including adjusted OIBDA of QVC Inc and Cornerstone [23] Q&A Session Summary Question: Customer Spend and Retention - Existing customers, who make up 50% of the count and 90% of sales, spent an average of $1,600 in Q1, up 10% YoY [53] - New customers are coming in through digital channels, and their purchasing patterns are still being monitored [54] - The company is focusing on reactivating lost customers, particularly high-quality ones, through targeted outreach [56] Question: Streaming Growth and Customer Behavior - Streaming accounted for over 5% of total minutes viewed last year and is now in the high single digits, growing rapidly [60] - Streaming customers are typically multi-platform, and their spending behavior aligns with traditional linear TV viewers [81] Question: Project Athens and Freight Costs - Project Athens initiatives, including cost of goods sold improvements and fulfillment efficiencies, are expected to continue benefiting gross margins through 2025 [82] - Freight costs are managed effectively, with no significant changes expected in the near term [84][106] Question: Debt and Liquidity - The company expects to address 2025 debt maturities using cash and the revolver, similar to the 2024 notes [99] - The 2026 revolver size may be reduced as the business continues to perform well [118] Question: Inventory and Seasonal Trends - Inventory levels are well-managed, with a focus on new and higher-margin items [115][116] - Seasonal merchandise is in good shape, with no significant excess inventory concerns [99] Question: Japan Market Performance - Japan is a core business with consistent growth, and the company is not currently considering monetizing its stake [101][127] Question: Marketing Spend and Product Mix - Marketing spend is expected to remain stable, with potential reallocation but no material increases [104] - The company will continue to focus on higher-margin categories and avoid scaling into lower-margin products [123]

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Qurate Retail, Inc. (NASDAQ:QRTEA) Q4 2023 Earnings Conference Call February 28, 2024 8:30 AM ET Company Participants Shane Kleinstein - Senior Vice President, Investor Relations David Rawlinson - Chief Executive Officer Bill Wafford - Group Chief Financial Officer Greg Maffei - Executive Chairman Conference Call Participants Jason Bazinet - Citi William Reuter - Bank of America Carla Casella - JPMorgan Hale Holden - Barclays Karru Martinson - Jefferies Operator Ladies and gentlemen, welcome to the Qurate R ...

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Exhibit 99.1 QURATE RETAIL, INC. REPORTS FOURTH QUARTER AND YEAR END 2023 FINANCIAL RESULTS Englewood, Colorado, February 28, 2024 – Qurate Retail, Inc. ("Qurate Retail") (Nasdaq: QRTEA, QRTEB, QRTEP) today reported fourth quarter and year end 2023 results (1) . "2023 was a transformational year for Qurate Retail. We executed better on multiple fronts including merchandising, pricing strategy and inventory management, and these efforts yielded significant, positive results in the operational health and fina ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D. C. 20549 FORM 10-K Commission File Number 001-33982 ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to QURATE RETAIL, INC. (Exact name of Registrant as specified in its charter) State of Delaware (State or other jurisdicti ...

Qurate Retail, Inc. (NASDAQ:QRTEA) Q3 2023 Earnings Conference Call November 3, 2023 8:30 AM ET Company Participants Shane Kleinstein - Vice President of Investor Relations David Rawlinson - President & Chief Executive Officer Bill Wafford - Chief Financial Officer Greg Maffei - Executive Chairman Ben Oren - Executive Vice President & Treasurer Conference Call Participants Jason Haas - Bank of America Carla Casella - JPMorgan Hale Holden - Barclays Operator Welcome to the Qurate Retail, Inc. 2023 Q3 Earning ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D. C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-33982 QURATE RETAIL, INC. (Exact name of Registrant as specified in its charter) State of Delaware (State or other j ...