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Qurate sticks with China through tariffs, pandemic

China 2606 Cons. Discr. - Apparel 374 Cons. Discr. - Durables 346 Cons. Discr. - Retailing 312 Coronavirus 432 Earnings 495 Programmatic 33 Tariffs 1650 U.S. 4645

Qurate managed to generate 10% revenue growth in Q2 as the online and TV retailer delivered a strong mix of product choices as well as cutting inventory days to 56.2 from 70.2 a year earlier. Yet, its stock price dropped on the day of the results after the firm stated that profitability fell “primarily due to higher fulfillment costs mainly associated with COVID-19”. The firm has been engaged in a longer-term process of optimizing its supply chain to keep costs under control. The drop in inventory included a 34.8% year over year reduction in U.S. seaborne imports linked to the firm in Q2...

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