Quarterly report [Sections 13 or 15(d)]

Information About QVC Group's Operating Segments (Tables)

v3.25.3
Information About QVC Group's Operating Segments (Tables)
 9 Months Ended
Sep. 30, 2025
Segment Reporting, Disclosure of Other Information about Entity's Reportable Segments [Abstract]  
Schedule of Disaggregation of Revenue
Disaggregated revenue by segment and product category consisted of the following:
Three months ended
September 30, 2025
QxH QVC Int'l CBI Corp and other Total
in millions
Home $ 570  227  195  —  992 
Apparel 283  106  36  —  425 
Beauty 204  128  —  —  332 
Accessories 174  52  —  —  226 
Jewelry 61  39  —  —  100 
Electronics 89  14  —  —  103 
Other revenue 35  —  —  —  35 
Total Net Revenue $ 1,416  566  231  —  2,213 
Nine months ended
September 30, 2025
QxH QVC Int'l CBI Corp and other Total
in millions
Home $ 1,635  683  568  —  2,886 
Apparel 840  317  114  —  1,271 
Beauty 623  386  —  —  1,009 
Accessories 527  154  —  —  681 
Jewelry 186  109  —  —  295 
Electronics 254  45  —  —  299 
Other revenue 110  2  —  —  112 
Total Net Revenue $ 4,175  1,696  682  —  6,553 
Three months ended
September 30, 2024
QxH QVC Int'l CBI Corp and other Total
in millions
Home $ 611  226  214  —  1,051 
Apparel 294  98  38  —  430 
Beauty 225  135  —  —  360 
Accessories 185  52  —  —  237 
Jewelry 63  43  —  —  106 
Electronics 104  17  —  —  121 
Other revenue 39  —  —  —  39 
Total Net Revenue $ 1,521  571  252  —  2,344 
Nine months ended
September 30, 2024
QxH QVC Int'l CBI Corp and other Total
in millions
Home $ 1,796  684  637  —  3,117 
Apparel 904  311  119  —  1,334 
Beauty 703  405  —  —  1,108 
Accessories 598  153  —  —  751 
Jewelry 216  115  —  —  331 
Electronics 285  48  —  —  333 
Other revenue 116  3  —  —  119 
Total Net Revenue $ 4,618  1,719  756  —  7,093 
Schedule of Performance Measures
Other performance measures reviewed by the CODM are as follows:
Three months ended September 30, 2025
QxH QVC Int'l CBI Corporate and other Total
amounts in millions
Net Revenue $ 1,416  566  231  —  2,213 
Cost of goods sold (exclusive of depreciation and amortization) 944  373  144  —  1,461 
Gross profit 472  193  87  —  752 
Operating expense 106  46  10  —  162 
Advertising expense 78  9  39  —  126 
Selling, general and administrative expense (exclusive of stock-based compensation and advertising) 153  80  40  22  295 
Adjusted OIBDA $ 135  58  (2) (22) 169 
Nine months ended September 30, 2025
QxH QVC Int'l CBI Corporate and other Total
amounts in millions
Net Revenue $ 4,175  1,696  682  —  6,553 
Cost of goods sold (exclusive of depreciation and amortization) 2,767  1,102  400  —  4,269 
Gross profit 1,408  594  282  —  2,284 
Operating expense 324  136  29  —  489 
Advertising expense 201  27  123  —  351 
Selling, general and administrative expense (exclusive of stock-based compensation and advertising) 476  235  120  37  868 
Adjusted OIBDA $ 407  196  10  (37) 576 
Three months ended September 30, 2024
QxH QVC Int'l CBI Corporate and other Total
amounts in millions
Net Revenue $ 1,521  571  252  —  2,344 
Cost of goods sold (exclusive of depreciation and amortization) 997  369  151  —  1,517 
Gross profit 524  202  101  —  827 
Operating expense 121  44  10  —  175 
Advertising expense 62  8  46  —  116 
Selling, general and administrative expense (exclusive of stock-based compensation and advertising) 159  80  39  8  286 
Adjusted OIBDA $ 182  70  6  (8) 250 

Nine months ended September 30, 2024
QxH QVC Int'l CBI Corporate and other Total
amounts in millions
Net Revenue $ 4,618  1,719  756  —  7,093 
Cost of goods sold (exclusive of depreciation and amortization) 3,011  1,102  447  —  4,560 
Gross profit 1,607  617  309  —  2,533 
Operating expense 368  134  31  —  533 
Advertising expense 178  24  137  —  339 
Selling, general and administrative expense (exclusive of stock-based compensation and advertising) 500  237  110  23  870 
Adjusted OIBDA $ 561  222  31  (23) 791 
Schedule of Other Information by Segment
September 30, 2025
Total assets Capital expenditures
amounts in millions
QxH (1) $ 4,657  67 
QVC International 1,897  21 
CBI 520  15 
Corporate and other 486  — 
Consolidated QVC Group $ 7,560  103 
(1) QxH Property and equipment, net as of September 30, 2025 excludes assets classified as assets held for sale in the condensed consolidated balance sheet.
Schedule of Reconciliation of Adjusted OIBDA to Operating Income (Loss) and Earnings (Loss) Before Income Taxes
The following table provides a reconciliation of Adjusted OIBDA to Operating income (loss) and Earnings (loss) before income taxes:
Three months ended
September 30,		 Nine months ended
September 30,
2025 2024 2025 2024
amounts in millions
Adjusted OIBDA $ 169  250  576  791 
Stock-based compensation (7) (3) (15) (22)
Depreciation and amortization (103) (95) (310) (290)
Impairment of goodwill and intangible assets —  —  (2,395) — 
Restructuring (benefits) costs 1  —  (56) (18)
Gain on sale leaseback transaction —  —  —  1 
Operating income (loss) 60  152  (2,200) 462 
Interest expense (134) (117) (363) (353)
Realized and unrealized gains (losses) on financial instruments, net (7) (36) (43) (53)
Other, net 25  1  35  22 
Earnings (loss) before income taxes $ (56) —  (2,571) 78