v3.26.1
Information About QVC Group's Operating Segments (Tables)
 6 Months Ended
Jun. 30, 2026
Segment Reporting, Disclosure of Other Information about Entity's Reportable Segments [Abstract]  
Schedule of Disaggregation of Revenue
Disaggregated total revenue, net by segment and product category consisted of the following:
Three months ended June 30, 2026
QxHQVC Int'l CBI Total
in millions
Home $468 227 197 892 
Apparel 277 97 36 410 
Beauty 173 126 — 299 
Accessories 155 48 — 203 
Jewelry63 35 — 98 
Electronics 44 16 — 60 
Other revenue 36 — — 36 
Total revenue, net$1,216 549 233 1,998 
Six months ended June 30, 2026
QxHQVC Int'l CBI Total
in millions
Home $965 450 344 1,759 
Apparel 524 193 77 794 
Beauty 352 241 — 593 
Accessories 302 96 — 398 
Jewelry128 72 — 200 
Electronics 104 35 — 139 
Other revenue 72 — — 72 
Total revenue, net$2,447 1,087 421 3,955 

Three months ended June 30, 2025
QxHQVC Int'l CBITotal
in millions
Home $527 233 214 974 
Apparel 299 112 38 449 
Beauty 208 138 — 346 
Accessories 180 56 — 236 
Jewelry62 37 — 99 
Electronics76 16 — 92 
Other revenue 39 1 — 40 
Total revenue, net$1,391 593 252 2,236 
Six months ended June 30, 2025
QxHQVC Int'l CBITotal
in millions
Home $1,065 456 374 1,895 
Apparel 557 211 78 846 
Beauty 419 258 — 677 
Accessories 353 102 — 455 
Jewelry125 70 — 195 
Electronics165 31 — 196 
Other revenue 75 2 — 77 
Total revenue, net$2,759 1,130 452 4,341 
Schedule of Performance Measures
Other performance measures reviewed by the CODM are as follows:
Three months ended June 30, 2026
QxHQVC Int'lCBICorporate and other Total
amounts in millions
Total revenue, net$1,216 549 233 — 1,998 
Cost of goods sold (excluding depreciation and amortization) 805 359 129 — 1,293 
Gross profit 411 190 104 — 705 
Operating expense 90 45 10 — 145 
Advertising expense 73 13 42 — 128 
SG&A (excluding stock-based compensation, advertising and pre-petition charges) 149 79 33 8 269 
Adjusted OIBDA$99 53 19 (8)163 


Six months ended June 30, 2026
QxHQVC Int'lCBICorporate and other Total
amounts in millions
Total revenue, net$2,447 1,087 421 — 3,955 
Cost of goods sold (excluding depreciation and amortization) 1,629 715 237 — 2,581 
Gross profit 818 372 184 — 1,374 
Operating expense 182 90 19 — 291 
Advertising expense 143 21 83 — 247 
SG&A (excluding stock-based compensation, advertising and pre-petition charges) 302 159 72 14 547 
Adjusted OIBDA$191 102 10 (14)289 


Three months ended June 30, 2025
QxHQVC Int'lCBICorporate and other Total
amounts in millions
Total revenue, net$1,391 593 252 — 2,236 
Cost of goods sold (excluding 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 
SG&A (excluding stock-based compensation, advertising and pre-petition charges) 166 80 39 4 289 
Adjusted OIBDA$150 75 17 (4)238 
Six months ended June 30, 2025
QxHQVC Int'lCBICorporate and other Total
amounts in millions
Total revenue, net$2,759 1,130 452 — 4,341 
Cost of goods sold (excluding 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 
SG&A (excluding stock-based compensation, advertising and pre-petition charges) 323 155 80 8 566 
Adjusted OIBDA$272 138 13 (8)415 
Schedule of Other Information by Segment
June 30, 2026December 31, 2025
Total assetsProperty and equipment, netTotal assetsProperty and equipment, net
amounts in millions
QxH (1)$4,290 153 4,780 166 
QVC International 1,901 135 1,927 150 
CBI485 85 495 85 
Corporate and other311 — 441 — 
Consolidated QVC Group$6,987 373 7,643 401 
(1) QxH Property and equipment, net as of June 30, 2026 and December 31, 2025 excludes assets classified as assets held for sale in the condensed consolidated balance sheet.
Six months ended June 30,
20262025
Capital ExpendituresCapital Expenditures
amounts in millions
QxH$55 49 
QVC International10 14 
CBI8 9 
Consolidated QVC Group$73 72 
Three months ended June 30,
20262025
DepreciationAmortizationDepreciationAmortization
amounts in millions
QxH$9 49 26 58 
QVC International7 6 7 7 
CBI4 4 3 4 
Consolidated QVC Group$20 59 36 69 
Six months ended June 30,
20262025
DepreciationAmortizationDepreciationAmortization
amounts in millions
QxH$18 101 53 113 
QVC International13 13 14 13 
CBI7 7 8 6 
Consolidated QVC Group$38 121 75 132 
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
June 30,		Six months ended
June 30,
2026202520262025
amounts in millions
Adjusted OIBDA$163 238 289 415 
Depreciation and amortization(79)(105)(159)(207)
Gain (loss) on sale of assets— — 10 — 
Pre-petition charges(33)(6)(74)(6)
Stock-based compensation— (4)— (8)
Impairment of intangible assets— (930)— (930)
Impairment of goodwill— (1,465)— (1,465)
Restructuring benefits (costs)— — — (57)
Operating income (loss) 51 (2,272)66 (2,258)
Reorganization items, net(49)— (49)— 
Interest expense(26)(117)(158)(229)
Interest and dividend income12 7 24 15 
Realized and unrealized gains (losses) on financial instruments, net8 (21)87 (36)
Other, net— (8)1 (6)
Earnings (loss) before income taxes$(4)(2,411)(29)(2,514)