Qurate Retail Group, owner of West Chester-based QVC, reported its fourth-quarter results last week, writes David Moin for the Sourcing Journal. 

While the company recorded a decline in revenue and a steeper net loss for the quarter, it also reported an adjusted net income of $87 million over the same time period, compared to an adjusted net loss of $18 million for the same quarter last year, demonstrating progress in improving operations. 

Total revenue for the company went down from $3.53 billion for the previous year to just over $3.14 billion. 

By channel, QxH (QVC and HSN) saw a revenue decrease of four percent in the fourth quarter, but QVC International revenue grew by two percent in the same period. 

“We are pleased at the way the fourth quarter turned out,” said David Rawlinson, Qurate president and chief executive officer. 

The company currently has big plans for the future of QVC. 

“We’re going to take out of the studio and into the world,” said Rawlinson. “QVC will be showing up in neighborhoods and different formats. You will see a rebranded image, very different from the past.” 

Read more about QVC rebranding and changing things for a better future in the Sourcing Journal. 

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