QVC Group Q1 revenue down 10% to $2.105B; operating income plunges 90% to $14M

QVC Group, Inc.

2025-Q1 EPS reported -$0.25 vs consensus $0.06 ▼ miss (-525.9%)

Total revenue $2.105B, -10% YoY; operating income $14M vs $145M in Q1 2024.
Adjusted OIBDA $177M, -32% YoY; QxH revenue -11%, QVC International -6% (-4% constant currency).
Cornerstone revenue -13%; restructuring charges of $36M (QxH) and $21M (QVC International).
Leverage ratio 3.7x (above 3.5x), restricting dividends; total debt $5.566B (face), up $69M.
CEO cites linear TV decline, tariff volatility; partnership with TikTok for social shopping.

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