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Information About QVC Group's Operating Segments (Tables) | 6 Months Ended
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Jun. 30, 2025
Information About QVC Group's Operating Segments |
Schedule of disaggregation of revenue | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three months ended | ​
​ | ​ | June 30, 2025 | ​
​ | ​ | ​ | QxH | ​ | QVC Int'l | ​ | CBI | ​ | Corp and other | ​ | Total | ​
​ | in millions | ​
Home | ​ | $ | 527 | ​ | 233 | ​ | 214 | ​ | — | ​ | 974 | ​
Apparel | ​ | ​ | 299 | ​ | 112 | ​ | 38 | ​ | — | ​ | 449 | ​
Beauty | ​ | ​ | 208 | ​ | 138 | ​ | — | ​ | — | ​ | 346 | ​
Accessories | ​ | ​ | 180 | ​ | 56 | ​ | — | ​ | — | ​ | 236 | ​
Jewelry | ​ | ​ | 62 | ​ | 37 | ​ | — | ​ | — | ​ | 99 | ​
Electronics | ​ | ​ | 76 | ​ | 16 | ​ | — | ​ | — | ​ | 92 | ​
Other revenue | ​ | ​ | 39 | ​ | 1 | ​ | — | ​ | — | ​ | 40 | ​
Total Net Revenue | ​ | $ | 1,391 | ​ | 593 | ​ | 252 | ​ | — | ​ | 2,236 | ​
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Six months ended | ​
​ | ​ | June 30, 2025 | ​
​ | ​ | ​ | QxH | ​ | QVC Int'l | ​ | CBI | ​ | Corp and other | ​ | Total | ​
​ | in millions | ​
Home | ​ | $ | 1,065 | ​ | 456 | ​ | 374 | ​ | — | ​ | 1,895 | ​
Apparel | ​ | ​ | 557 | ​ | 211 | ​ | 78 | ​ | — | ​ | 846 | ​
Beauty | ​ | ​ | 419 | ​ | 258 | ​ | — | ​ | — | ​ | 677 | ​
Accessories | ​ | ​ | 353 | ​ | 102 | ​ | — | ​ | — | ​ | 455 | ​
Jewelry | ​ | ​ | 125 | ​ | 70 | ​ | — | ​ | — | ​ | 195 | ​
Electronics | ​ | ​ | 165 | ​ | 31 | ​ | — | ​ | — | ​ | 196 | ​
Other revenue | ​ | ​ | 75 | ​ | 2 | ​ | — | ​ | — | ​ | 77 | ​
Total Net Revenue | ​ | $ | 2,759 | ​ | 1,130 | ​ | 452 | ​ | — | ​ | 4,341 | ​
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three months ended
​ | ​ | June 30, 2024
​ | ​ | ​ | QxH | ​ | QVC Int'l | ​ | CBI | ​ | Corp and other | ​ | Total
​ | ​ | in millions
Home | ​ | $ | 596 | ​ | 221 | ​ | 234 | ​ | — | ​ | 1,051
Apparel | ​ | ​ | 328 | ​ | 105 | ​ | 39 | ​ | — | ​ | 472
Beauty | ​ | ​ | 239 | ​ | 141 | ​ | — | ​ | — | ​ | 380
Accessories | ​ | ​ | 212 | ​ | 53 | ​ | — | ​ | — | ​ | 265
Jewelry | ​ | ​ | 73 | ​ | 39 | ​ | — | ​ | — | ​ | 112
Electronics | ​ | ​ | 73 | ​ | 16 | ​ | — | ​ | — | ​ | 89
Other revenue | ​ | ​ | 37 | ​ | 1 | ​ | — | ​ | — | ​ | 38
Total Net Revenue | ​ | $ | 1,558 | ​ | 576 | ​ | 273 | ​ | — | ​ | 2,407
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Six months ended | ​
​ | ​ | June 30, 2024 | ​
​ | ​ | ​ | QxH | ​ | QVC Int'l | ​ | CBI | ​ | Corp and other | ​ | Total | ​
​ | in millions | ​
Home | ​ | $ | 1,185 | ​ | 458 | ​ | 423 | ​ | — | ​ | 2,066 | ​
Apparel | ​ | ​ | 610 | ​ | 213 | ​ | 81 | ​ | — | ​ | 904 | ​
Beauty | ​ | ​ | 478 | ​ | 270 | ​ | — | ​ | — | ​ | 748 | ​
Accessories | ​ | ​ | 413 | ​ | 101 | ​ | — | ​ | — | ​ | 514 | ​
Jewelry | ​ | ​ | 153 | ​ | 72 | ​ | — | ​ | — | ​ | 225 | ​
Electronics | ​ | ​ | 181 | ​ | 31 | ​ | — | ​ | — | ​ | 212 | ​
Other revenue | ​ | ​ | 77 | ​ | 3 | ​ | — | ​ | — | ​ | 80 | ​
Total Net Revenue | ​ | $ | 3,097 | ​ | 1,148 | ​ | 504 | ​ | — | ​ | 4,749 | ​
Schedule of performance measures | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three months ended June 30, 2025 | ​
​ | ​ | QxH | ​ | QVC Int'l | ​ | CBI | ​ | Corporate and other | ​ | Total | ​
​ | ​ | amounts in millions | ​
Net Revenue | ​ | $ | 1,391 | ​ | 593 | ​ | 252 | ​ | — | ​ | 2,236 | ​
Cost of goods sold (exclusive of depreciation and amortization) | ​ | ​ | 900 | ​ | 381 | ​ | 141 | ​ | — | ​ | 1,422 | ​
Gross profit | ​ | ​ | 491 | ​ | 212 | ​ | 111 | ​ | — | ​ | 814 | ​
Operating expense | ​ |  | 107 | ​ | 47 | ​ | 10 | ​ | — | ​ | 164 | ​
Advertising expense | ​ | ​ | 68 | ​ | 10 | ​ | 45 | ​ | — | ​ | 123 | ​
Selling, general and administrative expense (exclusive of stock-based compensation and advertising) | ​ | ​ | 166 | ​ | 80 | ​ | 39 | ​ | 10 | ​ | 295 | ​
Adjusted OIBDA | ​ | $ | 150 | ​ | 75 | ​ | 17 | ​ | (10) | ​ | 232 | ​
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Six months ended June 30, 2025 | ​
​ | ​ | QxH | ​ | QVC Int'l | ​ | CBI | ​ | Corporate and other | ​ | Total | ​
​ | ​ | amounts in millions | ​
Net Revenue | ​ | $ | 2,759 | ​ | 1,130 | ​ | 452 | ​ | — | ​ | 4,341 | ​
Cost of goods sold (exclusive of depreciation and amortization) | ​ | ​ | 1,823 | ​ | 729 | ​ | 256 | ​ | — | ​ | 2,808 | ​
Gross profit | ​ | ​ | 936 | ​ | 401 | ​ | 196 | ​ | — | ​ | 1,533 | ​
Operating expense | ​ |  | 218 | ​ | 90 | ​ | 19 | ​ | — | ​ | 327 | ​
Advertising expense | ​ | ​ | 123 | ​ | 18 | ​ | 84 | ​ | — | ​ | 225 | ​
Selling, general and administrative expense (exclusive of stock-based compensation and advertising) | ​ | ​ | 323 | ​ | 155 | ​ | 80 | ​ | 14 | ​ | 572 | ​
Adjusted OIBDA | ​ | $ | 272 | ​ | 138 | ​ | 13 | ​ | (14) | ​ | 409 | ​
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three months ended June 30, 2024 | ​
​ | ​ | QxH | ​ | QVC Int'l | ​ | CBI | ​ | Corporate and other | ​ | Total | ​
​ | ​ | amounts in millions | ​
Net Revenue | ​ | $ | 1,558 | ​ | 576 | ​ | 273 | ​ | — | ​ | 2,407 | ​
Cost of goods sold (exclusive of depreciation and amortization) | ​ | ​ | 1,007 | ​ | 367 | ​ | 158 | ​ | — | ​ | 1,532 | ​
Gross profit | ​ | ​ | 551 | ​ | 209 | ​ | 115 | ​ | — | ​ | 875 | ​
Operating expense | ​ |  | 122 | ​ | 45 | ​ | 11 | ​ | — | ​ | 178 | ​
Advertising expense | ​ | ​ | 63 | ​ | 9 | ​ | 50 | ​ | — | ​ | 122 | ​
Selling, general and administrative expense (exclusive of stock-based compensation and advertising) | ​ | ​ | 172 | ​ | 78 | ​ | 35 | ​ | 8 | ​ | 293 | ​
Adjusted OIBDA | ​ | $ | 194 | ​ | 77 | ​ | 19 | ​ | (8) | ​ | 282 | ​
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Six months ended June 30, 2024 | ​
​ | ​ | QxH | ​ | QVC Int'l | ​ | CBI | ​ | Corporate and other | ​ | Total | ​
​ | ​ | amounts in millions | ​
Net Revenue | ​ | $ | 3,097 | ​ | 1,148 | ​ | 504 | ​ | — | ​ | 4,749 | ​
Cost of goods sold (exclusive of depreciation and amortization) | ​ | ​ | 2,014 | ​ | 733 | ​ | 296 | ​ | — | ​ | 3,043 | ​
Gross profit | ​ | ​ | 1,083 | ​ | 415 | ​ | 208 | ​ | — | ​ | 1,706 | ​
Operating expense | ​ |  | 247 | ​ | 90 | ​ | 21 | ​ | — | ​ | 358 | ​
Advertising expense | ​ | ​ | 116 | ​ | 16 | ​ | 93 | ​ | — | ​ | 225 | ​
Selling, general and administrative expense (exclusive of stock-based compensation and advertising) | ​ | ​ | 341 | ​ | 157 | ​ | 69 | ​ | 15 | ​ | 582 | ​
Adjusted OIBDA | ​ | $ | 379 | ​ | 152 | ​ | 25 | ​ | (15) | ​ | 541 | ​
Schedule of other information by segment | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | June 30, 2025 |
​ | ​ | Total assets | ​ | Capital expenditures |
​ | ​ | amounts in millions |
QxH | ​ | $ | 3,703 |  | 49 | ​
QVC International | ​ | ​ | 1,899 | ​ | 14 | ​
CBI | ​ | ​ | 554 | ​ | 9 | ​
Corporate and other | ​ |  | 543 |  | — | ​
Consolidated QVC Group | ​ | $ | 6,699 |  | 72 | ​
Schedule of reconciliation of adjusted OIBDA to operating income and earnings (loss) from continuing operations before income taxes | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three months ended | ​ | Six months ended |
​ | ​ | June 30, | ​ | June 30, |
​ |  | 2025 |  | 2024 |  | 2025 |  | 2024 |
​ | ​ | amounts in millions |
Adjusted OIBDA | ​ | $ | 232 |  | 282 |  | 409 |  | 541 | ​
Stock-based compensation | ​ |  | (4) |  | (3) |  | (8) |  | (19) | ​
Depreciation and amortization | ​ |  | (105) |  | (96) |  | (207) |  | (195) | ​
Impairment of goodwill and intangible assets | ​ | ​ | (2,395) | ​ | — | ​ | (2,395) | ​ | — | ​
Restructuring costs | ​ | ​ | — | ​ | (18) | ​ | (57) | ​ | (18) | ​
Gain on sale leaseback transaction | ​ | ​ | — | ​ | — | ​ | — | ​ | 1 | ​
Operating income (loss) | ​ | $ | (2,272) | ​ | 165 | ​ | (2,258) | ​ | 310 | ​
Interest expense | ​ |  | (117) |  | (119) |  | (229) |  | (236) | ​
Realized and unrealized gains (losses) on financial instruments, net | ​ |  | (21) |  | (10) |  | (36) |  | (17) | ​
Other, net | ​ |  | (1) |  | 11 |  | 9 |  | 21 | ​
Earnings (loss) before income taxes | ​ | $ | (2,411) |  | 47 |  | (2,514) |  | 78 | ​
​

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