Qurate Retail, Inc. (NASDAQ:QRTEA) Q4 2022 Earnings Call Transcript

William Reuter: All right. And then, in terms of the shifting of your today’s special values, is that something that still continues to happen based upon supply chain disruption or are you now able to put whatever products you want when you want to show them?

David Rawlinson: Yes. It’s lessened very substantially from the height of the supply chain difficulties. It still happens from time to time. But we’re getting pretty close now back to a much normal expectation of being able to execute our plans for TSVs as planned.

William Reuter: Okay. And then just my last question. You’d mentioned you had a goal of 20% to 30% inventory reduction, were down 27%. Should we continue to expect that working capital will be a source of cash or at this point, should it be kind of flattish throughout 2023?

David Rawlinson: Yes. We’re going to — we built — we’ve not only reduced inventory, we built a system of checks and controls and buying procedures that will help us in the future keep a tighter rein on the inventories. We think we’re around back to a reasonable inventory level now. We’re going to continue to manage it aggressively. So you might see some movement, but we think we’re in a reasonable place now in terms of overall inventory level.

Shane Kleinstein: Thank you, Operator. I think that is we’re done for today. Thank you all to the investors for your continued interest in Qurate, and we hope to speak with you next quarter, if not sooner.

David Rawlinson: Thank you.

Operator: Ladies and gentlemen, thank you for your participation. This concludes today’s event. You may disconnect your lines or logoff the webcast at this time and enjoy the rest of your day.