QVC Group Reports 7.1% Revenue Decline and $2.209 Billion Net Loss in Q2 2025

QVC Group, Inc. reported a significant decline in financial performance for the second quarter of 2025, with total revenue decreasing by 7.1% to $2.236 billion compared to $2.407 billion in the same period last year. For the first half of 2025, revenue fell by 8.6% to $4.341 billion from $4.749 billion. The company attributed this decline to a decrease in units shipped across all segments, particularly in its QxH division, which includes QVC and HSN. The company also recorded a net loss of $2.209 billion for the quarter, a stark contrast to a net income of $32 million in the prior year, primarily due to a $2.395 billion impairment charge related to goodwill and intangible assets.

In terms of operational metrics, QVC Group's Adjusted OIBDA, a non-GAAP measure, decreased by 17.7% to $232 million for the quarter and by 24.4% to $409 million for the six months ended June 30, 2025. The decline in Adjusted OIBDA was driven by reduced performance in the QxH and QVC International segments, alongside increased restructuring costs associated with the company's ongoing WIN strategy, which aims to enhance customer engagement and streamline operations. The company also reported a decrease in stock-based compensation expenses, reflecting changes in performance expectations.

Strategically, QVC Group has undergone significant organizational changes, including a transition of management responsibilities from Liberty Media Corporation to its own team, effective April 1, 2025. The company also executed a reverse stock split on May 22, 2025, at a ratio of 1-for-50, which was aimed at improving its stock price and market perception. Following the split, QVC Group's Series B Common Stock began trading on the OTCQB Venture Market on May 28, 2025.

The company’s operational challenges are compounded by external factors, including economic uncertainty and inflationary pressures that have affected consumer spending. QVC Group's total assets decreased to $6.699 billion as of June 30, 2025, down from $9.243 billion at the end of 2024, largely due to the impairment of intangible assets. The company’s long-term debt increased to $4.834 billion, reflecting ongoing financial pressures and the need for liquidity.

Looking ahead, QVC Group remains focused on its WIN strategy to drive growth and adapt to changing market conditions. However, the company faces significant challenges, including maintaining customer engagement in a competitive landscape and managing its debt obligations amid fluctuating economic conditions. The outlook remains cautious as the company navigates these complexities while aiming to stabilize its financial performance and enhance shareholder value.