| --- | --- | --- | --- | --- | |-------|-------|-------|-------|------------------------------------------------------------------| | | | | | | | | | | | | | | | | | | | | | | | qurate RETAIL, INC. Curated Experiences. Infinite Possibilities. | | | | | | Q2 2021 Earnings Presentation | Safe Harbor and Non-GAAP Measures This presentation includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements about business strategies; expe ...

Financial Data and Key Metrics Changes - In Q2 2021, Qurate Retail reported year-over-year revenue growth of 1% and OIBDA growth of 2% on a constant currency basis, with revenue increasing 11% and OIBDA increasing 12% compared to 2019 [8][39] - Adjusted OIBDA margin improved by 40 basis points, reflecting a favorable gross margin due to lower inventory obsolescence expense and improved product margin [42][43] Business Line Data and Key Metrics Changes - QxH revenue declined 1% year-over-year but grew 6% compared to 2019, with OIBDA growing 1% from last year [17][39] - Apparel and accessories revenue grew 19% and 11% respectively, while beauty declined 10% due to reduced airtime [41][42] - Zulily's revenue declined 6% year-over-year but grew 9% compared to 2019, impacted by marketing pressures and supply constraints [32][48] - Cornerstone delivered record Q2 revenue and OIBDA, driven by strength in home categories and apparel at Garnet Hill [34][49] Market Data and Key Metrics Changes - QVC International sustained strong revenue and OIBDA growth, with revenue up 5% led by Japan and Germany [46][47] - E-commerce revenue for QVC International grew 4%, with total customers declining 4% year-over-year but growing 5% compared to 2019 [46] Company Strategy and Development Direction - The company is focused on expanding its digital and video content distribution, launching a streaming service on Comcast and a new social shopping app called Qurio [28][29] - Strategic priorities include innovation, enhancing customer engagement, and leveraging advanced analytics for personalized experiences [30][28] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in long-term growth prospects despite supply chain challenges and inflationary pressures [36][39] - The company is well-positioned to benefit from trends towards online shopping and digital engagement [12][14] Other Important Information - The company plans to return a substantial portion of free cash flow to shareholders, with share repurchases and potential special dividends [53][69] - Management highlighted the importance of retaining best customers, with a retention rate exceeding 99% [74] Q&A Session Summary Question: Challenges related to advertising and viewership - Management acknowledged Zulily's challenges with paid marketing and emphasized the positive viewership trends in QxH, with traditional pay TV viewership increasing [58][60] Question: Insights on July performance and fashion rebound - Management noted the potential for further growth in apparel and accessories, while home categories faced tough comparisons [64][66] Question: QxH margin outlook - Management confirmed expectations for flat margins for the remainder of the year, acknowledging inflationary pressures but also taking steps to mitigate them [67] Question: Capital allocation and share repurchase strategy - Management indicated plans to utilize various tools for returning capital to shareholders, including share repurchases and potential special dividends [69] Question: Behavior of best customers pre, during, and post-pandemic - Management reported high retention rates among best customers and noted a significant increase in their spending and purchase frequency in the latest quarter [74]

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 June 30, 2021 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 jurisd ...

qurate RETAIL, INC. Curated Experiences. Infinite Possibilities. Q1 2021 Earnings Presentation Safe Harbor and Non-GAAP Measures and other matters that are not historical facts. These forward-looking statements involve many risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements, including, without limitation, the impact of the COVID-19 pandemic on our businesses, possible changes in market acceptance of new products or services, compet ...

Financial Data and Key Metrics Changes - Qurate Retail reported a 13% revenue growth and a 32% OIBDA growth in constant currency for Q1 2021, marking the best quarterly performance since the company's formation in 2018 [8][50] - The company welcomed 1.6 million new customers in the quarter, a 35% increase from the prior year, and served a total of 10.8 million customers, up 9% [9][50] - Adjusted OIBDA margin expanded by 160 basis points, with adjusted OIBDA growing 19% [55][63] Business Line Data and Key Metrics Changes - QxH revenue grew 8%, driven by home category momentum and a 12% increase in e-commerce revenue [51][62] - Zulily experienced a 19% revenue growth, with new customer growth up 81% [27][66] - Cornerstone delivered over 40% revenue growth, benefiting from increased home spending [29][68] Market Data and Key Metrics Changes - QVC International achieved a 15% revenue growth, with e-commerce revenue growing 25% and penetration increasing by 390 basis points [62][63] - The home category saw a 14% revenue increase, with notable strength in gardening and fitness equipment [53][54] - Consumer electronics returned to growth, up 16%, driven by demand for laptops and smart home devices [53] Company Strategy and Development Direction - The company is focusing on expanding its digital video ecosystem and enhancing customer engagement through various platforms [36][37] - Qurate Retail aims to capitalize on the growing trends of live stream shopping and online consumer engagement [33][48] - The company is committed to corporate responsibility initiatives, including support for small businesses and sustainability efforts [10][11] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the macro environment, consumer demand, and the rebound in fashion, while also monitoring supply pressures and inflation [13][32] - The company believes it is well-positioned to adapt to post-pandemic realities, leveraging its unique business model and customer engagement strategies [48][49] - Management highlighted the importance of maintaining customer loyalty and engagement as the market evolves [45][46] Other Important Information - The company completed the sale of its secondary corporate campus for $40 million as part of its hybrid work approach [61] - Free cash flow was negative $6 million in Q1, impacted by cash outlays for prior year liabilities [70][72] - The company repurchased 5 million shares for a total cost of $61 million from January 1 to April 30 [72] Q&A Session Summary Question: Customer retention and spending in fashion categories - Management noted that new customers are ramping up their spending, particularly in fashion, and expressed confidence in the ability to navigate tougher comparisons in the future [77][78] Question: OIBDA margins for QxH - Management indicated that while OIBDA margins are expected to be flat for the remainder of the year, there may be fluctuations quarter-to-quarter due to various factors [80][81] Question: Capital allocation and share repurchases - Management discussed the potential for continued share repurchases and the evaluation of capital return options, including special dividends [83] Question: Inflation and supply issues - Management acknowledged inflationary pressures, particularly in freight and labor costs, and indicated that some price increases may be passed on to customers [90][91] Question: Apparel category performance - Management confirmed that the apparel category is still below peak levels but has room for recovery, with expectations for improved margins despite higher return rates [95][96] Question: Engagement strategies for new customers - Management emphasized a multi-dimensional strategy to engage new customers across various digital platforms and content types [99][100] Question: Live streaming and content evolution - Management highlighted the need for constant innovation in content creation to remain competitive in the evolving live streaming landscape [104][107] Question: Sustainability and ESG metrics - Management outlined a comprehensive approach to sustainability, focusing on emissions, recyclability, and community empowerment [111][113]

Revenue Growth - Consolidated Qurate Retail revenue increased by 14.3% or $417 million for the three months ended March 31, 2021, compared to the same period in the prior year [113]. - QxH revenue rose by $144 million, QVC International revenue increased by $139 million, and Zulily revenue grew by $61 million during the same period [113]. - QVC's consolidated net revenue increased by 11.7% to $2.71 billion for the three months ended March 31, 2021, compared to $2.43 billion in the same period of 2020 [139]. - QxH net revenue increased by 8.0% to $1.94 billion for the three months ended March 31, 2021, driven by a 7.9% increase in units shipped [142]. - QVC International net revenue growth in constant currency was 14.5% for the three months ended March 31, 2021, primarily due to an 8.4% increase in units shipped [143]. - Zulily's consolidated net revenue increased by 19.3% for the three months ended March 31, 2021, driven by a 15.4% increase in total units shipped and a 14.8% rise in active customers [156]. Operating Income and Expenses - Consolidated operating income increased by $142 million for the three months ended March 31, 2021, with QxH contributing an increase of $67 million and QVC International contributing an increase of $44 million [116]. - Adjusted OIBDA increased by 34.6% or $133 million for the three months ended March 31, 2021, with QxH contributing an increase of $56 million and QVC International contributing an increase of $46 million [117]. - The increase in operating income at the Corporate and other segment was primarily due to strong revenue performance and expanding gross margins from lower promotional activity [116]. - Operating expenses increased by $9 million for the three months ended March 31, 2021, primarily due to a $4 million rise in customer service expenses [150]. - SG&A expenses (excluding stock-based compensation) decreased by $2 million, and as a percentage of net revenue, fell from 11.4% to 10.1% for the same period [151]. Financial Performance and Earnings - Net earnings were $224 million for the three months ended March 31, 2021, compared to net losses of $9 million in the same period of 2020 [126]. - Adjusted OIBDA increased to $492 million for the three months ended March 31, 2021, compared to $390 million in the same period of 2020 [138]. - Interest expense increased by $20 million to $117 million for the three months ended March 31, 2021, compared to $97 million in the same period of 2020 [121]. - Share of losses of affiliates decreased by $4 million to $32 million for the three months ended March 31, 2021, compared to $36 million in the same period of 2020, due to improved results at alternative energy entities [122]. Cash and Capital Management - Cash and cash equivalents totaled $739 million as of March 31, 2021, with QVC holding $638 million [130]. - The projected uses of cash for the remainder of 2021 include approximately $240 million for capital improvements and $210 million for debt service payments [133]. - Qurate Retail's operating businesses generated over $1 billion in annual cash from operating activities on average over the prior three years [131]. Impact of COVID-19 - Zulily experienced increased freight surcharges and additional labor expenses due to COVID-19, impacting its financial performance [106]. - The company anticipates potential adverse impacts from COVID-19, including reduced demand and supply chain disruptions, which could materially affect financial results [110]. Cost of Sales and Pricing - The cost of sales as a percentage of net revenue decreased from 65.3% to 64.9% for the three months ended March 31, 2021, attributed to favorable product returns and strategic pricing initiatives [149]. - Zulily's cost of sales as a percentage of net revenue increased from 75.9% to 76.4% for the three months ended March 31, 2021, primarily due to higher shipping costs [157]. Stock-Based Compensation - Stock-based compensation increased to $16 million for the three months ended March 31, 2021, up from $11 million in the prior year [115]. - The total unrecognized compensation cost related to unvested equity awards was approximately $159 million as of March 31, 2021 [115]. Foreign Currency Impact - QVC's reported Adjusted OIBDA for the three months ended March 31, 2021 would be impacted by approximately $1 million for every 1% change in foreign currency exchange rates relative to the U.S. Dollar [162].

| --- | --- | --- | --- | --- | --- | |-------|-------|-------|-------|-------|------------------------------------------------------------------| | | | | | | | | | | | | | | | | | | | | qurate RETAIL, INC. Curated Experiences. Infinite Possibilities. | | | | | | | Q4 2020 Earnings Presentation | Safe Harbor and Non-GAAP Measures This presentation includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements about business strate ...

Qurate Retail, Inc. (NASDAQ:QRTEA) Q4 2020 Earnings Conference Call February 26, 2021 8:30 AM ET Company Participants Courtnee Chun – Chief Portfolio Officer Mike George – President and Chief Executive Officer Jeff Davis – Chief Financial Officer Greg Maffei – Executive Chairman Conference Call Participants Ed Yruma – KeyBanc Capital Markets Oliver Wintermantel – Evercore ISI Eric Sheridan – UBS Jason Bazinet – Citi Carla Casella – JPMorgan Sean Henderson – D.A. Davidson Operator Ladies and gentlemen, thank ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D. C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 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 jurisdicti ...

Qurate Retail, Inc. (NASDAQ:QRTEA) Q3 2020 Earnings Conference Call November 5, 2020 8:30 AM ET Company Participants Courtnee Chun - Chief Portfolio Officer Michael George - President, CEO & Director Jeffrey Davis - CFO Gregory Maffei - Executive Chairman Conference Call Participants Eric Sheridan - UBS Investment Bank Oliver Wintermantel - Evercore ISI Edward Yruma - KeyBanc Capital Markets Jason Bazinet - Citigroup Thomas Forte - D.A. Davidson & Co. Steven Litt - 4010 Capital Operator Ladies and gentlemen ...