Document


 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K
CURRENT REPORT

Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934

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Date of Report (date of earliest event reported): September 28, 2018
QVC, Inc.
(Exact name of registrant as specified in its charter)
State of Delaware
000-55409
23-2414041
(State or other jurisdiction of
incorporation or organization)
(Commission
File Number)
(I.R.S. Employer
Identification No.)

1200 Wilson Drive
West Chester, Pennsylvania 19380
(Address of principal executive offices and zip code)
Registrant's telephone number, including area code: (484) 701-1000
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company o
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o
 




Item 7.01. Regulation FD Disclosure

On September 28, 2018, Qurate Retail Group ("Qurate Group"), a portfolio of brands including QVC, Inc. ("QVC"), HSN, Inc., zulily, llc and the Cornerstone Brands, announced that Jeffrey A. Davis will join Qurate Group and QVC as Chief Financial Officer and will oversee financial operations and strategies globally. He will assume his new role on October 15, 2018 and will report to Michael A. George, President and Chief Executive Officer of Qurate Retail Inc, the parent company of QVC.

This Current Report on Form 8-K and the press release attached hereto as Exhibit 99.1 are being furnished to the SEC under Item 7.01 of Form 8-K in satisfaction of the public disclosure requirements of Regulation FD and shall not be deemed "filed" for any purpose.

Item 9.01. Financial Statements and Exhibits.

(d)         Exhibits.

Exhibit No.
 
Description
 
 
 
99.1
 



2



SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

QVC, Inc.
 
 
Date: October 3, 2018
By:/s/ JOHN F. MISKO
 
John F. Misko
 
Senior Vice President and Controller
                    



3
Exhibit


Qurate Retail Group Appoints Jeffrey A. Davis as Chief Financial Officer

September 28, 2018: Executive Brings Proven Track Record in Retail, Including Nine Years with Walmart Inc.
WEST CHESTER, Pa. (September 28, 2018) – Today, Qurate Retail Group announced that Jeffrey A. Davis will join the Group as Chief Financial Officer. Davis will oversee financial operations and strategies globally for Qurate Retail Group as it continues to position itself as a world-leading multiplatform, experiential retailer. He will be responsible for Planning and Analysis, Accounting, Payables, Payroll, Customer Finance, Tax, Treasury, Internal Audit, Strategic Procurement, Corporate Development and the business unit finance teams, as well as serve as CFO for QVC, Inc.
Davis will assume his new role on October 15, 2018, and will report to Mike George, President and Chief Executive Officer, Qurate Retail, Inc. Davis will be based at Qurate Retail Group’s global headquarters in West Chester, Pa.
“Jeff brings an extensive background of financial strategy leadership in the retail space,” said Mike George. “He has an engaging, direct communication style and a thoughtful, insightful approach to strategic decisions. We’re looking forward to leveraging his leadership as we continue to redefine our model in the new era of retail and differentiate by delivering curated, personalized, and video-focused shopping experiences across multiple platforms.”
Davis joins Qurate Retail Group from J. C. Penney Company, Inc., where he held the position of EVP and CFO. In this role, he led a debt restructuring, reduced working capital, and created strategies to improve growth and extend the brand. He oversaw Strategy, Financial Reporting, Tax, Internal Audit, Treasury and Cash Management Retail Finance, Investor Relations, Planning and Allocation, Pricing, Property Development, and Procurement.
Prior to J. C. Penney Company, Inc., Davis served as CFO at Darden Restaurants, a portfolio of eight restaurant brands with 1,700 locations in the United States. In this role, he reduced expenses and retired debt, creating a more efficient capital structure. He was responsible for Financial Reporting, Audit, Tax, Treasury, Financial Planning and Analysis, Investor Relations, Supply Chain, and Restaurant Development.
Davis previously spent nine years at Walmart Inc., where he held various finance leadership positions, including EVP and CFO of Walmart U.S., EVP and Treasurer of Walmart Inc., and VP of Finance in the U.S. Specialty Division. For Walmart U.S., he partnered with merchant and operating leadership to increase margins, reduce inventory, and recover working capital without sacrificing on-shelf availability.
Davis previously served in top financial roles at Lakeland Tours, LLC; McKesson Corporation; private investment holding company The Hillman Co.; and KPMG Peat Marwick.
About Qurate Retail Group
Qurate Retail Group comprises seven leading retail brands — QVC, HSN, zulily, Ballard Designs, Frontgate, Garnet Hill and Grandin Road — all dedicated to providing a ‘third way to shop,’ beyond transactional ecommerce or traditional brick-and-mortar stores. Globally, Qurate Retail Group is #1 in video commerce, reaching approximately 370 million homes worldwide via 16 television networks and multiple ecommerce sites, social pages, mobile apps, print catalogs, and in-store destinations. Qurate Retail Group is #3 in ecommerce in North America and #3 in mobile commerce in the US (according to





Internet Retailer). Qurate Retail Group combines the best of retail, media and social to curate products, experiences, conversations and communities for millions of highly discerning shoppers -- bringing joy, inspiration and humanity to shopping. Qurate Retail Group also curates large audiences, across multiple platforms, for thousands of brand vendors. Headquartered in West Chester, Pa., Qurate Retail Group has 27,000 team members in the US, the UK, Germany, Japan, Italy, France, Poland and China. For more information, visit www.qurateretailgroup.com.
Qurate Retail, Inc. (NASDAQ: QRTEA, QRTEB) includes the Qurate Retail Group portfolio of brands as well as other minority investments.