Amazon Is Getting Into Yet Another Market â And Your Closet
Amazon announced Prime Wardrobe, a service that allows users to try on clothes before they buy them.
LEARN MORETV Shopping Networks Aren't Doing Great — So QVC And HSN Are Merging
The two networks will share resources as they compete against retail giants Amazon and Walmart.
TV Shopping Networks Aren't Doing Great — So QVC And HSN Are Merging
ITA-ATU / CC BY SA 3.0
July 7, 2017
In the age of online shopping, brick-and-mortar stores aren't the only retailers getting hurt. Home-shopping TV networks are struggling to stay competitive as well.
Retail giant QVC announced Thursday it would be acquiring the Home Shopping Network — better known as HSN — for $2.1 billion. The move will allow both companies — which will still operate as separate brands — to combine resources and stay competitive.
QVC's parent company, Liberty Interactive, already owns 38 percent of HSN, so QVC only has to buy the remaining shares for the deal.
HSN's sales fell by 3 percent last year, while QVC's profits declined in the last quarter of that year. Despite their established base, the companies are still in the shadows of Amazon and Walmart.
But at least QVC can say it has more successful shopping shows than Amazon.
Last spring, Amazon attempted to launch its own retail show called "Style Code Live." It was available on Amazon Video, but after a year, it got canceled. Engadget called the show a failed attempt to reinvent QVC's formula.
Starbucks’ new CEO says he’ll work as a barista once a month
The executive says his barista training helped him understand what works well, and where they need to improve.
Disney World reaches union deal with minimum $18 hourly wage
The starting minimum wage for union service workers at Disney World is going from $15 to $18 an hour by the end of the year.
3:16
Woman sues artificial tears maker after loss of eyeball
Ezricare's artificial tears have been linked to a bacterial infection that is causing blindness, loss of eyes and even death.
Top Stories
1:49
US, Canada end loophole that let asylum-seekers cross border
Authorities from both sides have been eager to end the process that allowed immigrants to pursue asylum cases without using official crossings.
2:45
FAA calls on airlines to help prevent another travel meltdown
The FAA is changing some practices due to recent runway incursion events, and addressing possible effects of staffing shortages.
2:30
Why are some citizens protesting in France?
Hundreds of people were arrested in clashes amid some the biggest protests so far against the raising of France's retirement age.
