Q Talk

[They Call Me MR Wilkes]

A quick summary;  should make some happy!

Fourth quarter and full year 2024 headlines:

• Qurate Retail, Inc. renamed to QVC Group, Inc. on February 21, 2025

• QVC Group revenue decreased 6% in Q4 and 5% in full year in both US Dollars and constant currency(3)

• Generated operating loss of $1.3 billion in Q4 and $809 million in full year

• Adjusted OIBDA(4) decreased 8% in Q4 and 1%(2) in full year in US Dollars
  • In constant currency adjusted OIBDA(4) decreased 8% in Q4 and was flat(2) in full year
• QxH revenue decreased 8% in Q4 and 6% in full year

• QVC International revenue was flat in Q4 and decreased 2% in full year in US Dollars
  • In constant currency(3), revenue was flat in Q4 and in full year
• Cornerstone revenue decreased 7% in Q4 and 11% in full year

• Reduced QVC Group principal amount of debt by $442 million in 2024 and extended maturity profile

Note:  The 4th Q operating loss is mostly non cash writedown of goodwill and trademarks.  Details to follow. 

[cody2]

Who would that make happy?

[ellaphant]

Bye bye Q! 👎

[They Call Me MR Wilkes]

Apparel revenue grew 2% Q3 to Q4.

Every other major product category declined.

[They Call Me MR Wilkes]

Conference Call Highlights:

The decline in cable and television viewership is unsustainable.   The only option is to dramatically shift focus to reach customers.

As expected, huge investment in streaming and targeted social media production and programming with focus on social media celebrity partnerships.  Programming specifically for each social media outlet:  Instagram, Tik Tok, You Tube.....

Cross pollination and overlap between QVC and HSN for value and cost savings.

Expect significant headcount reduction as operating expense control is essential over the near term.

[KKJ]

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@cody2 wrote:

Who would that make happy?

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I know, pretty sad to me that OP and some others seem to delight and WANT the Q to fail.  I happen to like shopping here and would not be happy to see it go. 

[They Call Me MR Wilkes]

Au Contraire, I love QVC and I am one of the biggest cheerleaders.  The allegation is false and offensive. I have posted and touted positive news as frequently as possible.   This thread merely reports actual facts.

I have NEVER wanted QVC Group to fail, but note the challenges that require it to change and reorganize.   There is no thread or post in existence where I said I wished it would fail.

This news is not great but the company must deal with it.  Facts.  Dramatic alterations will occur.

(The grave dancers emerge here and there and love the negative news, but I have never been amongst them.)

[stevieb]

Doesn't make me happy, but completely predictable, so it doesn't surprise me either. The format, brands, vendors and host presentation styles are redundant and are largely stale. Some of us have been saying it for years, They continue to ignore feedback, making small tweaks that don't amount to any meaningful difference, and so this is what you get.

[kaydee50]

I wouldn't be "happy" about the demise of QVC as it now exists just as I'm not happy about Joanne's, Sears, Lord & Taylor, etc. etc., etc. going out of business.  BUT it seems obvious to me that QVC/HSN cannot exist as they do now.  Something has to change.  As the saying goes "adapt or die."

[stevieb]

Forgot to note that if 4th Quarter 'holiday' sales were this moribund, it doesn't bode well, even given that they essentially run holiday programming, intermittently anyway, from June onward. Of course, that might be a whole other level of a problem.