QVC Group Q2 revenue down 7% to $2.24B; operating loss $2.3B on $2.4B impairment; borrows $975M in July

QVC Group, Inc.

2025-Q2 EPS reported -$289.11 revenue$4,341,000,000

Revenue $2,236M (-7% USD, -9% CC); Adjusted OIBDA $232M (-18%).
QxH revenue -11% to $1,391M; QVC International +3% (-3% CC); Cornerstone -8%.
Operating loss of $2.3B includes $2.4B non-cash impairment of goodwill and tradenames.
QVC leverage 3.9x at June 30; borrowed $975M in July, reducing credit availability to ~$200M.
QVC restricted from unlimited dividends due to leverage >3.5x under senior secured notes.

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