Here are the 10-K annual reports from QVC, Inc. 6.375% Senior Secured Notes due 2067 (QVCD) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-K covers the audited annual report, with the full financial statements, so if you follow QVCD and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full QVCD filings page.
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.