Qurate faces tough start to 2021 as logistics costs stay high

China 2777 Cons. Discr. - Retailing 375 Earnings 587 Quote Watch 354 U.S. 4941

Qurate released Q4’20 revenues which rose by 6.7% year over year, beating analysts’ estimates by 1.1 percentage points. A surge in U.S. seaborne imports linked to the firm of 34.7% year over year in Q4’20 reversed in January to a 17.3% decline. While the firm has implemented a “broad program to reduce end-to-end supply chain costs”, according to CFO Jeffery Davis, it has nonetheless faced higher logistics costs “due to ongoing challenges in our fulfillment centers from adhering to COVID protocols” as well as freight surcharges. Qurate has maintained its supply chain commitment to China. ...

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