Qurate sells Zulily

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.