{"url_path":"/sec/qvcdq/10-q/2026/cover-page","section_key":"cover-page","section_title":"Cover Page","topic":"sec","document":{"doc_type":"10-Q","doc_date":"2026-05-15","source_url":"https://www.sec.gov/Archives/edgar/data/1254699/0001254699-26-000011-index.html","accession_number":"0001254699-26-000011","cik":"0001254699","ticker":"QVCDQ","issuer_name":"QVC Group, Inc.","edgar_url":"https://www.sec.gov/Archives/edgar/data/1254699/0001254699-26-000011-index.html","primary_entity_key":"0001254699","primary_entity_name":"QVC INC"},"word_count":477,"has_tables":true,"body_markdown":"qvc-20260331\n000125469912/3112026Q1FALSExbrli:sharesiso4217:USDiso4217:USDxbrli:sharesxbrli:pureqvc:segment00012546992026-01-012026-03-310001254699qvc:A6.375SeniorSecuredNotesMember2026-01-012026-03-310001254699qvc:A625SeniorSecuredNotesMember2026-01-012026-03-3100012546992026-03-3100012546992025-03-3100012546992025-12-310001254699qvc:QurateMember2026-03-310001254699qvc:QurateMember2025-12-3100012546992025-01-012025-03-310001254699qvc:QurateMember2026-01-012026-03-310001254699qvc:QurateMember2025-01-012025-03-3100012546992024-12-310001254699us-gaap:CommonStockMember2024-12-310001254699us-gaap:AdditionalPaidInCapitalMember2024-12-310001254699us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-12-310001254699us-gaap:RetainedEarningsMember2024-12-310001254699us-gaap:NoncontrollingInterestMember2024-12-310001254699us-gaap:RetainedEarningsMember2025-01-012025-03-310001254699us-gaap:NoncontrollingInterestMember2025-01-012025-03-310001254699us-gaap:AccumulatedOtherComprehensiveIncomeMember2025-01-012025-03-310001254699us-gaap:AdditionalPaidInCapitalMember2025-01-012025-03-310001254699us-gaap:CommonStockMember2025-03-310001254699us-gaap:AdditionalPaidInCapitalMember2025-03-310001254699us-gaap:AccumulatedOtherComprehensiveIncomeMember2025-03-310001254699us-gaap:RetainedEarningsMember2025-03-310001254699us-gaap:NoncontrollingInterestMember2025-03-310001254699us-gaap:CommonStockMember2025-12-310001254699us-gaap:AdditionalPaidInCapitalMember2025-12-310001254699us-gaap:AccumulatedOtherComprehensiveIncomeMember2025-12-310001254699us-gaap:RetainedEarningsMember2025-12-310001254699us-gaap:NoncontrollingInterestMember2025-12-310001254699us-gaap:RetainedEarningsMember2026-01-012026-03-310001254699us-gaap:NoncontrollingInterestMember2026-01-012026-03-310001254699us-gaap:AccumulatedOtherComprehensiveIncomeMember2026-01-012026-03-310001254699us-gaap:CommonStockMember2026-03-310001254699us-gaap:AdditionalPaidInCapitalMember2026-03-310001254699us-gaap:AccumulatedOtherComprehensiveIncomeMember2026-03-310001254699us-gaap:RetainedEarningsMember2026-03-310001254699us-gaap:NoncontrollingInterestMember2026-03-310001254699qvc:QvcJapanMember2026-03-310001254699qvc:MitsuiMemberqvc:QvcJapanMember2026-03-310001254699qvc:QVCtoCBIAllocatedExpensesMemberqvc:CornerstoneBrandsIncMember2026-01-012026-03-310001254699qvc:QVCtoCBIAllocatedExpensesMemberqvc:CornerstoneBrandsIncMember2025-01-012025-03-310001254699qvc:CBItoQVCallocatedexpensesMemberqvc:CornerstoneBrandsIncMember2025-01-012025-03-310001254699qvc:CBItoQVCallocatedexpensesMemberqvc:CornerstoneBrandsIncMember2026-01-012026-03-310001254699qvc:QVCGroupMember2020-12-300001254699qvc:QVCGroupMember2020-12-302020-12-300001254699qvc:QVCGroupMember2025-01-012025-03-310001254699qvc:QVCGroupMember2026-01-012026-03-310001254699qvc:A475SeniorSecuredNotesMemberqvc:QVCMember2026-03-310001254699qvc:A475SeniorSecuredNotesMemberqvc:QVCMember2025-12-310001254699qvc:A4375SeniorSecuredNotesDue2028Memberqvc:QVCMember2026-03-310001254699qvc:A4375SeniorSecuredNotesDue2028Memberqvc:QVCMember2025-12-310001254699qvc:A6.875SeniorSecuredNotesMemberqvc:QVCMember2026-03-310001254699qvc:A6.875SeniorSecuredNotesMemberqvc:QVCMember2025-12-310001254699qvc:A5.45SeniorSecuredNotesMemberqvc:QVCMember2026-03-310001254699qvc:A5.45SeniorSecuredNotesMemberqvc:QVCMember2025-12-310001254699qvc:A5950SeniorSecuredNotesMemberqvc:QVCMember2026-03-310001254699qvc:A5950SeniorSecuredNotesMemberqvc:QVCMember2025-12-310001254699qvc:A6.375SeniorSecuredNotesMemberqvc:QVCMember2026-03-310001254699qvc:A6.375SeniorSecuredNotesMemberqvc:QVCMember2025-12-310001254699qvc:A625SeniorSecuredNotesMemberqvc:QVCMember2026-03-310001254699qvc:A625SeniorSecuredNotesMemberqvc:QVCMember2025-12-310001254699qvc:A3.75ExchangeableSeniorDebenturesDue2030Member2026-03-310001254699qvc:A3.75ExchangeableSeniorDebenturesDue2030Member2025-12-310001254699qvc:A4.00ExchangeableSeniorDebenturesDue2029Member2026-03-310001254699qvc:A4.00ExchangeableSeniorDebenturesDue2029Member2025-12-310001254699qvc:A8.25SeniorDebenturesDue2030Member2026-03-310001254699qvc:A8.25SeniorDebenturesDue2030Member2025-12-310001254699qvc:A8.50SeniorDebenturesDue2029Member2026-03-310001254699qvc:A8.50SeniorDebenturesDue2029Member2025-12-310001254699qvc:QVCSeniorSecuredNotesMember2026-03-310001254699qvc:QVCG_SeniorDebenturesMember2026-03-310001254699qvc:QVCSeniorSecuredCreditFacilityMember2026-03-310001254699us-gaap:DebtMember2026-03-310001254699qvc:QVCInternationalMember2025-12-310001254699qvc:QVCInternationalMember2026-01-012026-03-310001254699qvc:QVCInternationalMember2026-03-310001254699us-gaap:OtherIntangibleAssetsMember2026-03-310001254699qvc:A475SeniorSecuredNotesMember2026-03-310001254699qvc:A475SeniorSecuredNotesMember2025-12-310001254699qvc:A4375SeniorSecuredNotesDue2028Member2026-03-310001254699qvc:A4375SeniorSecuredNotesDue2028Member2025-12-310001254699qvc:A6.875SeniorSecuredNotesMember2026-03-310001254699qvc:A6.875SeniorSecuredNotesMember2025-12-310001254699qvc:A5.45SeniorSecuredNotesMember2026-03-310001254699qvc:A5.45SeniorSecuredNotesMember2025-12-310001254699qvc:A5950SeniorSecuredNotesMember2026-03-310001254699qvc:A5950SeniorSecuredNotesMember2025-12-310001254699qvc:A6.375SeniorSecuredNotesMember2026-03-310001254699qvc:A6.375SeniorSecuredNotesMember2025-12-310001254699qvc:A625SeniorSecuredNotesMember2026-03-310001254699qvc:A625SeniorSecuredNotesMember2025-12-310001254699us-gaap:RevolvingCreditFacilityMember2026-03-310001254699us-gaap:RevolvingCreditFacilityMember2025-12-310001254699us-gaap:CapitalLeaseObligationsMember2026-03-310001254699us-gaap:CapitalLeaseObligationsMember2025-12-310001254699qvc:A4.45SeniorSecuredNotesMemberqvc:QVCMember2025-02-180001254699us-gaap:RevolvingCreditFacilityMember2021-10-270001254699us-gaap:StandbyLettersOfCreditMember2021-10-270001254699qvc:AlternativeCurrencyBorrowingsMember2021-10-270001254699qvc:ABRRateMinMemberus-gaap:RevolvingCreditFacilityMembersrt:MinimumMember2021-10-272021-10-270001254699qvc:ABRRateMaxMemberus-gaap:RevolvingCreditFacilityMembersrt:MaximumMember2021-10-272021-10-270001254699us-gaap:RevolvingCreditFacilityMembersrt:MinimumMember2021-10-272021-10-270001254699us-gaap:RevolvingCreditFacilityMembersrt:MaximumMember2021-10-272021-10-270001254699us-gaap:RevolvingCreditFacilityMembersrt:MinimumMember2023-06-202023-06-200001254699us-gaap:RevolvingCreditFacilityMembersrt:MaximumMember2023-06-202023-06-200001254699qvc:QVCSeniorSecuredNotesMember2026-03-3100012546992023-10-012023-10-310001254699qvc:QxHMember2025-01-012025-03-310001254699qvc:QVCInternationalMember2025-01-012025-03-310001254699us-gaap:FairValueMeasurementsRecurringMember2026-03-310001254699us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2026-03-310001254699us-gaap:FairValueMeasurementsRecurringMember2025-12-310001254699us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2025-12-310001254699qvc:HomeMemberqvc:QxHMember2026-01-012026-03-310001254699qvc:HomeMemberqvc:QVCInternationalMember2026-01-012026-03-310001254699qvc:HomeMember2026-01-012026-03-310001254699qvc:HomeMemberqvc:QxHMember2025-01-012025-03-310001254699qvc:HomeMemberqvc:QVCInternationalMember2025-01-012025-03-310001254699qvc:HomeMember2025-01-012025-03-310001254699qvc:ApparelMemberqvc:QxHMember2026-01-012026-03-310001254699qvc:ApparelMemberqvc:QVCInternationalMember2026-01-012026-03-310001254699qvc:ApparelMember2026-01-012026-03-310001254699qvc:ApparelMemberqvc:QxHMember2025-01-012025-03-310001254699qvc:ApparelMemberqvc:QVCInternationalMember2025-01-012025-03-310001254699qvc:ApparelMember2025-01-012025-03-310001254699qvc:BeautyMemberqvc:QxHMember2026-01-012026-03-310001254699qvc:BeautyMemberqvc:QVCInternationalMember2026-01-012026-03-310001254699qvc:BeautyMember2026-01-012026-03-310001254699qvc:BeautyMemberqvc:QxHMember2025-01-012025-03-310001254699qvc:BeautyMemberqvc:QVCInternationalMember2025-01-012025-03-310001254699qvc:BeautyMember2025-01-012025-03-310001254699qvc:AccessoriesMemberqvc:QxHMember2026-01-012026-03-310001254699qvc:AccessoriesMemberqvc:QVCInternationalMember2026-01-012026-03-310001254699qvc:AccessoriesMember2026-01-012026-03-310001254699qvc:AccessoriesMemberqvc:QxHMember2025-01-012025-03-310001254699qvc:AccessoriesMemberqvc:QVCInternationalMember2025-01-012025-03-310001254699qvc:AccessoriesMember2025-01-012025-03-310001254699qvc:JewelryMemberqvc:QxHMember2026-01-012026-03-310001254699qvc:JewelryMemberqvc:QVCInternationalMember2026-01-012026-03-310001254699qvc:JewelryMember2026-01-012026-03-310001254699qvc:JewelryMemberqvc:QxHMember2025-01-012025-03-310001254699qvc:JewelryMemberqvc:QVCInternationalMember2025-01-012025-03-310001254699qvc:JewelryMember2025-01-012025-03-310001254699qvc:ElectronicsMemberqvc:QxHMember2026-01-012026-03-310001254699qvc:ElectronicsMemberqvc:QVCInternationalMember2026-01-012026-03-310001254699qvc:ElectronicsMember2026-01-012026-03-310001254699qvc:ElectronicsMemberqvc:QxHMember2025-01-012025-03-310001254699qvc:ElectronicsMemberqvc:QVCInternationalMember2025-01-012025-03-310001254699qvc:ElectronicsMember2025-01-012025-03-310001254699qvc:OtherrevenueMemberqvc:QxHMember2026-01-012026-03-310001254699qvc:OtherrevenueMemberqvc:QVCInternationalMember2026-01-012026-03-310001254699qvc:OtherrevenueMember2026-01-012026-03-310001254699qvc:OtherrevenueMemberqvc:QxHMember2025-01-012025-03-310001254699qvc:OtherrevenueMemberqvc:QVCInternationalMember2025-01-012025-03-310001254699qvc:OtherrevenueMember2025-01-012025-03-310001254699qvc:QxHMember2026-01-012026-03-310001254699qvc:QVCInternationalMember2026-01-012026-03-310001254699qvc:QxHMember2026-03-310001254699qvc:QVCInternationalMember2026-03-310001254699qvc:QxHMember2025-03-310001254699qvc:QVCInternationalMember2025-03-31\n\n[Table of Contents](#id5ae62bfbf7a4dcb9af63275483b44a5_7) -- Click here to rapidly navigate through this document\n\nUNITED STATES\n\nSECURITIES AND EXCHANGE COMMISSION\n\nWASHINGTON, D.C. 20549\n\nFORM 10-Q\n\n☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\n\nFor the quarterly period ended March 31, 2026\n\nOR\n\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\n\nFor the transition period from to\n\nCommission File Number 001-38654\n\nQVC, Inc.\n\n(Exact name of Registrant as specified in its charter)\n\nState of Delaware\n\n 23-2414041\n\n   (State or other jurisdiction of\n\n(I.R.S. Employer Identification\n\n   incorporation or organization)\n\n Number)\n\n    1200 Wilson Drive\n19380\n\n     West Chester, Pennsylvania\n\n(Zip Code)\n\n     (Address of principal executive offices)\n\nRegistrant's telephone number, including area code: (484) 701-1000\n\nSecurities registered pursuant to Section 12(b) of the Act:\n\nTitle of each classTrading Symbol(s)Name of each exchange on which registered\n\n6.375% Senior Secured Notes due 2067QVCDQOTC Pink Limited Market\n\n6.250% Senior Secured Notes due 2068QVCCQOTC Pink Limited Market\n\nIndicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes x No o\n\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes x No o\n\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,”“accelerated filer,” “smaller reporting company” and“emerging growth company” in Rule 12b-2 of the Exchange Act.\n\nLarge accelerated filer o Accelerated filer o Non-accelerated filer ☒ Smaller reporting company  Emerging growth\n\n☐ company ☐\n\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o\n\nIndicate by check mark whether the Registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No x\n\nNone of the voting stock of the registrant is held by a non-affiliate of the registrant. There is no publicly traded market for any class of voting stock of the registrant. There is one holder of record of our equity, Qurate Retail Group, Inc., an indirect wholly-owned subsidiary of QVC Group, Inc.\n\nQVC, Inc.\n\n2026 QUARTERLY REPORT ON FORM 10-Q\n\nTable of Contents\n\n[Part I](#id5ae62bfbf7a4dcb9af63275483b44a5_10)\nPage"}