Information About QVC Group's Operating Segments (Tables)
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6 Months Ended |
Jun. 30, 2025 |
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| Information About QVC Group's Operating Segments |
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| Schedule of disaggregation of revenue |
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Three months ended |
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June 30, 2025 |
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QxH |
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QVC Int'l |
|
CBI |
|
Corp and other |
|
Total |
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|
|
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 |
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Other revenue |
|
|
39 |
|
1 |
|
— |
|
— |
|
40 |
|
Total Net Revenue |
|
$ |
1,391 |
|
593 |
|
252 |
|
— |
|
2,236 |
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Six months ended |
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June 30, 2025 |
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QxH |
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QVC Int'l |
|
CBI |
|
Corp and other |
|
Total |
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|
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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 |
|
|
|
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Three months ended |
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|
June 30, 2024 |
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QxH |
|
QVC Int'l |
|
CBI |
|
Corp and other |
|
Total |
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|
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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 |
|
|
|
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Six months ended |
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June 30, 2024 |
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QxH |
|
QVC Int'l |
|
CBI |
|
Corp and other |
|
Total |
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|
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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 |
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| Schedule of performance measures |
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Three months ended June 30, 2025 |
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QxH |
|
QVC Int'l |
|
CBI |
|
Corporate and other |
|
Total |
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|
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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 |
|
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Six months ended June 30, 2025 |
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QxH |
|
QVC Int'l |
|
CBI |
|
Corporate and other |
|
Total |
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|
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|
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 |
|
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|
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 |
|
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Six months ended June 30, 2024 |
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|
|
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 |
|
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| Schedule of other information by segment |
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June 30, 2025 |
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Total assets |
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Capital expenditures |
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|
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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 |
|
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| Schedule of reconciliation of adjusted OIBDA to operating income and earnings (loss) from continuing operations before income taxes |
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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 |
|
|