Liberty Interactive Corporation, the holding company for QVC, HSN and six other retail brands, will rename itself the “Qurate Retail Group.”
The renaming will take effect later this month, when the company completes the split-off of the GCI Liberty telecommunications company.
The company also announced that Mike George, currently chief executive officer of QVC Inc., will become president and ceo of Qurate Retail Group. Greg Maffei, who was president and ceo of Liberty, will become chairman.
In addition to QVC and HSN, the Qurate Retail Group includes Zulily, Ballard Designs, Frontgate, Garnet Hill, Grandin Road and Improvements.
Last December, Liberty Interactive Corp. completed its acquisition of HSN. QVC, based in West Chester, Pa., is a wholly owned subsidiary of Liberty Interactive. HSN is based in St. Petersburg, Fla.
On Thursday, the company also reported that for the fourth quarter, revenues at the QVC Group rose 6 percent to $2.82 billion from $2.66 billion in the year ago period. Operating income rose 23 percent to $496 million from $404 million.
For the year, revenue rose 1 percent to approximately $8.8 billion from $8.7 billion while operating income was up 12 percent to approximately $1.34 billion, from $1.2 billion.