NASDAQ: QVCCQ
QVC Group, Inc.CIK 0001254699 · SIC 5961 · Catalog & Mail-Order Houses
Certain statements in this Annual Report on Form 10-K constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding our business, product and marketing strategies, including the outcome and effects of the Chapter 11… About this business →
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QVC Group registers resale of 37.6M shares by selling stockholders; company gets no proceeds
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QVC Group registers 37.6M shares for resale by selling stockholders; company gets no proceeds
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QVC Group swings to $62M operating profit after $2.3B prior-year loss, but bankruptcy casts doubt on survival
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Latest financial statements
From 10-Q filed Aug 4, 2026 (period ending Jun 30, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.
Condensed Consolidated Statements of Operations (Unaudited)
(in millions)
| Description | Three months ended June 30, 2026 | Three months ended June 30, 2025 | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|---|---|
| Total revenue, net | 1,765 | 1,984 | 3,534 | 3,889 |
| Operating costs and expenses: | ||||
| Cost of goods sold (excluding depreciation and amortization shown separately below) | 1,164 | 1,281 | 2,344 | 2,552 |
| Operating expense | 135 | 154 | 272 | 308 |
| Selling, general and administrative, including stock-based compensation and pre-petition charges | 333 | 328 | 665 | 627 |
| Depreciation and amortization | 71 | 98 | 145 | 193 |
| (Gain) loss on sale of assets | — | — | (10) | — |
| Impairment of intangible assets (note 4) | — | 930 | — | 930 |
| Impairment of goodwill (note 4) | — | 1,465 | — | 1,465 |
| Restructuring (benefits) costs (note 6) | — | — | — | 57 |
| 1,703 | 4,256 | 3,416 | 6,132 | |
| Operating (loss) income | 62 | (2,272) | 118 | (2,243) |
| Other (expense) income: | ||||
| Reorganization items, net (note 2) | (59) | — | (59) | — |
| Interest expense | (15) | (66) | (91) | (130) |
| Interest income | 9 | 3 | 20 | 7 |
| Other (expense) income | — | (9) | 1 | (13) |
| (65) | (72) | (129) | (136) | |
| Earnings (loss) before income taxes | (3) | (2,344) | (11) | (2,379) |
| Income tax (expense) benefit | (18) | 190 | (26) | 192 |
| Net earnings (loss) | (21) | (2,154) | (37) | (2,187) |
| Less net earnings (loss) attributable to the noncontrolling interest | 10 | 11 | 19 | 20 |
| Net earnings (loss) attributable to QVC, Inc. shareholder | (31) | (2,165) | (56) | (2,207) |
Condensed Consolidated Balance Sheets (Unaudited)
(in millions, except share amounts)
| Description | June 30, 2026 | December 31, 2025 |
|---|---|---|
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents | 1,019 | 1,496 |
| Trade and other receivables, net of allowance for credit losses of $62 million and $76 million, respectively | 669 | 1,016 |
| Inventories | 805 | 832 |
| Other current assets | 650 | 219 |
| Total current assets | 3,143 | 3,563 |
| Property and equipment, net of accumulated depreciation of $908 million and $897 million, respectively | 288 | 316 |
| Intangible assets not subject to amortization (note 4): | ||
| Goodwill | 777 | 800 |
| Tradenames | 1,190 | 1,190 |
| Intangible assets subject to amortization, net (note 4) | 246 | 315 |
| Operating lease right-of-use assets | 450 | 461 |
| Note receivable related party (note 1) | — | 1,740 |
| Other noncurrent assets | 80 | 54 |
| Assets held for sale noncurrent (note 6) | 17 | 17 |
| Total assets | 6,191 | 8,456 |
| Liabilities and Equity | ||
| Current liabilities: | ||
| Accounts payable | 391 | 664 |
| Accrued liabilities | 538 | 727 |
| Current debt (note 5) | 1 | 5,023 |
| Other current liabilities | 49 | 52 |
| Total current liabilities | 979 | 6,466 |
| Long-term debt (note 5) | — | 1 |
| Deferred income tax liabilities | 171 | 173 |
| Operating lease liabilities | 450 | 460 |
| Other liabilities | 69 | 88 |
| Liabilities subject to compromise (note 2) | 5,093 | — |
| Total liabilities | 6,762 | 7,188 |
| Equity: | ||
| Stockholder's equity: | ||
| Common stock, $0.01 par value, 1 authorized share | — | — |
| Additional paid-in capital | 9,462 | 11,205 |
| Accumulated deficit | (9,804) | (9,748) |
| Accumulated other comprehensive earnings (loss) | (303) | (262) |
| Total stockholder's equity (deficit) | (645) | 1,195 |
| Noncontrolling interest in equity of subsidiary | 74 | 73 |
| Total equity | (571) | 1,268 |
| Commitments and contingencies (note 6) | ||
| Total liabilities and equity | 6,191 | 8,456 |
Condensed Consolidated Statements of Cash Flows (Unaudited)
(in millions)
| Description | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|
| Cash flows from operating activities: | ||
| Net earnings (loss) | (37) | (2,187) |
| Adjustments to reconcile net earnings (loss) to net cash provided (used) by operating activities: | — | — |
| Depreciation and amortization | 145 | 193 |
| Non-cash lease expense | 49 | 51 |
| Non-cash reorganization items, net | 27 | — |
| (Gain) loss on sale of assets | (10) | — |
| Deferred income tax expense (benefit) | (1) | (230) |
| Impairment of intangible assets | — | 930 |
| Impairment of goodwill | — | 1,465 |
| Stock-based compensation | — | 8 |
| Other, net | (10) | 12 |
| Change in operating assets and liabilities | ||
| Decrease (increase) in trade and other receivables | 344 | 315 |
| Decrease (increase) in inventories | 22 | (85) |
| Decrease (increase) in other assets | (33) | 31 |
| (Decrease) increase in accounts payable | (270) | (157) |
| (Decrease) increase in accrued and other liabilities | (170) | (248) |
| Net cash provided (used) by operating activities | 56 | 98 |
| Cash flows from investing activities: | ||
| Capital expenditures | (65) | (63) |
| Expenditures for television distribution rights | (15) | (88) |
| Proceeds from sale of fixed assets | 12 | — |
| Other investing activities, net | 1 | (7) |
| Net cash provided (used) by investing activities | (67) | (158) |
| Cash flows from financing activities: | ||
| Dividends paid to noncontrolling interest | (16) | (22) |
| Borrowings of debt | — | 1,011 |
| Repayments of debt | — | (867) |
| Dividends paid to QVC Group, Inc. | — | (42) |
| Other financing activities, net | (7) | (2) |
| Net cash provided (used) by financing activities | (23) | 78 |
| Effect of foreign currency exchange rate changes on cash, cash equivalents and restricted cash | (11) | 27 |
| Net increase (decrease) in cash, cash equivalents and restricted cash | (45) | 45 |
| Cash, cash equivalents and restricted cash, beginning of period | 1,557 | 315 |
| Cash, cash equivalents and restricted cash, end of period | 1,512 | 360 |
Amounts as printed on the EDGAR/iXBRL face — (in millions); (in millions, except share amounts). Labels, columns, and figures are the filing face, not a GAAP stencil. Interactive statements & notes on EDGAR ↗
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About QVC Group, Inc.
Source: Item 1 (Business) from the 10-K filed April 15, 2026. Description as filed by the company with the SEC.
Item 1. Business
* * * * *
Cautionary Note Regarding Forward-Looking Statements
Certain statements in this Annual Report on Form 10-K constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding our business, product and marketing strategies, including the outcome and effects of the Chapter 11 Cases (as defined below) (including our ability to successfully emerge from the process and the timing thereof); our WIN strategy; capital expenditures, revenue growth; statements regarding the recoverability of our goodwill and other long-lived assets; our projected sources and uses of cash; repayment of debt; economic and macroeconomic trends; and the anticipated impact of certain contingent liabilities related to legal and tax proceedings and other matters arising in the ordinary course of business. You can identify some of the forward-looking statements by the use of forward-looking words such as “anticipate,” “believe,” “plan,” “estimate,” “expect,” “intend,” “should,” “may” and other similar expressions, although not all forward-looking statements contain these identifying words. In particular, statements under Item 1. “Business,”