QVC, Inc. reported a weak quarter while entering a Chapter 11 restructuring. For the three months ended March 31, 2026, total revenue fell to $1,769 million from $1,905 million, driven mainly by lower units shipped at its QxH segment.
The company posted a net loss of $16 million, with a loss attributable to the QVC, Inc. shareholder of $25 million, versus a $42 million loss a year earlier. Adjusted OIBDA declined to $141 million from $185 million, reflecting weaker gross profit and higher advertising and consulting costs.
QVC ended the quarter with $1,310 million of cash and cash equivalents, but carried $5,025 million of debt, most classified as current after breaching its net leverage covenant and as its credit facility approaches maturity. On April 16, 2026, QVC Group and affiliates commenced voluntary Chapter 11 cases and entered a Restructuring Support Agreement covering about $2.2 billion of QVC Notes, $1.5 billion of LINTA Notes, and $2.9 billion under the credit facility. The plan contemplates issuing roughly $1.3 billion of new takeback debt and giving credit facility and QVC Notes holders distributable cash and 100% of the equity in a reorganized QVC. Management states there is substantial doubt about QVC’s ability to continue as a going concern.
QVC, Inc. reported a weak quarter while entering a Chapter 11 restructuring. For the three months ended March 31, 2026, total revenue fell to $1,769 million from $1,905 million, driven mainly by lower units shipped at its QxH segment.
The company posted a net loss of $16 million, with a loss attributable to the QVC, Inc. shareholder of $25 million, versus a $42 million loss a year earlier. Adjusted OIBDA declined to $141 million from $185 million, reflecting weaker gross profit and higher advertising and consulting costs.
QVC ended the quarter with $1,310 million of cash and cash equivalents, but carried $5,025 million of debt, most classified as current after breaching its net leverage covenant and as its credit facility approaches maturity. On April 16, 2026, QVC Group and affiliates commenced voluntary Chapter 11 cases and entered a Restructuring Support Agreement covering about $2.2 billion of QVC Notes, $1.5 billion of LINTA Notes, and $2.9 billion under the credit facility. The plan contemplates issuing roughly $1.3 billion of new takeback debt and giving credit facility and QVC Notes holders distributable cash and 100% of the equity in a reorganized QVC. Management states there is substantial doubt about QVC’s ability to continue as a going concern.
QVC Inc filed a Form 25 notifying removal of two classes of senior secured notes from the New York Stock Exchange.
The filing lists 6.250% Senior Secured Notes due 2068 and 6.375% Senior Secured Notes due 2067, and is certified by the Exchange under 17 CFR 240.12d2-2 provisions.
QVC Inc filed a Form 25 notifying removal of two classes of senior secured notes from the New York Stock Exchange.
The filing lists 6.250% Senior Secured Notes due 2068 and 6.375% Senior Secured Notes due 2067, and is certified by the Exchange under 17 CFR 240.12d2-2 provisions.
QVC, Inc. files its 2025 annual report describing a live, video‑driven retail business with operations in the U.S., Japan, Germany, the U.K. and Italy. The company highlights heavy reliance on repeat shoppers, with repeat and reactivated customers generating about 97% of worldwide shipped sales.
Digital channels are central: global e‑commerce produced $5.2 billion, or roughly 63%, of consolidated net revenue for the year ended December 31, 2025. QxH contributed $5.9 billion of net revenue and $517 million of Adjusted OIBDA, while QVC‑International added $2.4 billion of revenue and $293 million of Adjusted OIBDA.
The report details restructuring under the WIN strategy, including consolidation of QVC and HSN at the West Chester, PA campus, workforce reorganization and technology outsourcing, which together drove significant restructuring charges and accelerated depreciation. QVC and its parent group also state an intention to commence Chapter 11 cases, which would accelerate obligations under multiple note issues and its credit facility and are expected to trigger NYSE delisting of the 2067 and 2068 senior secured notes.
QVC, Inc. files its 2025 annual report describing a live, video‑driven retail business with operations in the U.S., Japan, Germany, the U.K. and Italy. The company highlights heavy reliance on repeat shoppers, with repeat and reactivated customers generating about 97% of worldwide shipped sales.
Digital channels are central: global e‑commerce produced $5.2 billion, or roughly 63%, of consolidated net revenue for the year ended December 31, 2025. QxH contributed $5.9 billion of net revenue and $517 million of Adjusted OIBDA, while QVC‑International added $2.4 billion of revenue and $293 million of Adjusted OIBDA.
The report details restructuring under the WIN strategy, including consolidation of QVC and HSN at the West Chester, PA campus, workforce reorganization and technology outsourcing, which together drove significant restructuring charges and accelerated depreciation. QVC and its parent group also state an intention to commence Chapter 11 cases, which would accelerate obligations under multiple note issues and its credit facility and are expected to trigger NYSE delisting of the 2067 and 2068 senior secured notes.
QVC, Inc. furnished an update under Item 2.02, noting that its parent, QVC Group, issued a press release with financial information intended to supplement Management’s Discussion and Analysis for the quarter ended September 30, 2025.
The press release is provided as Exhibit 99.1 and relates to QVC’s results of operations and financial condition for that period. The filing also lists QVC’s exchange-listed notes: 6.375% Senior Secured Notes due 2067 (QVCD) and 6.250% Senior Secured Notes due 2068 (QVCC).
QVC, Inc. furnished an update under Item 2.02, noting that its parent, QVC Group, issued a press release with financial information intended to supplement Management’s Discussion and Analysis for the quarter ended September 30, 2025.
The press release is provided as Exhibit 99.1 and relates to QVC’s results of operations and financial condition for that period. The filing also lists QVC’s exchange-listed notes: 6.375% Senior Secured Notes due 2067 (QVCD) and 6.250% Senior Secured Notes due 2068 (QVCC).
QVC, Inc. reported Q3 2025 results showing softer sales and heightened balance‑sheet risk. Net revenue was $1,982 million (down 5% year over year), with operating income of $91 million versus $164 million a year ago. Adjusted OIBDA was $193 million versus $252 million.
For the first nine months, a non‑cash impairment of goodwill and tradenames totaling $2,395 million drove a net loss of $2,176 million. Cash and equivalents rose to $1,328 million from $297 million at year‑end, and operating cash flow was $174 million. Total debt was $5,023 million, including $2,900 million under the senior secured credit facility maturing on October 27, 2026; this balance will be reclassified to current after October 31, 2025. Management states substantial doubt about the Company’s ability to continue as a going concern.
Segment revenue: QxH $1,416 million (down 6.9%) and QVC International $566 million (down 0.9%). Cost of goods sold rose as a percentage of sales, and advertising increased to support digital and streaming channels. The Company continued restructuring under its WIN strategy, including studio consolidation and $16 million of accelerated depreciation in Q3.
QVC, Inc. reported Q3 2025 results showing softer sales and heightened balance‑sheet risk. Net revenue was $1,982 million (down 5% year over year), with operating income of $91 million versus $164 million a year ago. Adjusted OIBDA was $193 million versus $252 million.
For the first nine months, a non‑cash impairment of goodwill and tradenames totaling $2,395 million drove a net loss of $2,176 million. Cash and equivalents rose to $1,328 million from $297 million at year‑end, and operating cash flow was $174 million. Total debt was $5,023 million, including $2,900 million under the senior secured credit facility maturing on October 27, 2026; this balance will be reclassified to current after October 31, 2025. Management states substantial doubt about the Company’s ability to continue as a going concern.
Segment revenue: QxH $1,416 million (down 6.9%) and QVC International $566 million (down 0.9%). Cost of goods sold rose as a percentage of sales, and advertising increased to support digital and streaming channels. The Company continued restructuring under its WIN strategy, including studio consolidation and $16 million of accelerated depreciation in Q3.