Qurate sells Zulily
May 31, 2023
Qurate, which acquired Zulily in 2015 for $2.4 billion, has sold the retailer to Regent, a private equity firm. Zulily reported a $43 million operating loss in the first quarter as revenue fell 17 percent to $192 million. “This divestiture will allow our management team to better focus on our core video commerce assets, QVC and HSN, and the Cornerstone Brands, while preserving liquidity to further strengthen our balance sheet,” said Qurate CEO David Rawlinson.
Recent News
FDA Issues Insulin Pump App Recall After More Than 200 Injured
The FDA has issued a Class 1 recall of a popular insulin pump app after it was discovered that there was a software issue that caused the app to crash.
T-Mobile, AT&T, & Verizon Fined $10.2M for ‘Unlimited’ Claims
T-Mobile, AT&T, and Verizon have all been slapped with a fine.
Walgreens Settlement: What You Need to Know
Walgreens recently settled a class action lawsuit, potentially putting cash in the pockets of Americans who faced job denials due to background checks.
California Electric Bill Overhaul: What’s Ahead
California’s electricity payment system is getting a makeover.