QVC Group Inc. reported third quarter 2025 results, with revenue decreasing by 6.0% year-over-year in both US dollars and constant currency. Operating income was $60.0 million, marking a 61.0% decline from the prior year. The operating income margin stood at -3.9%, decreasing by 310 basis points. Adjusted OIBDA margin decreased by 327 basis points to -0.9%. eCommerce revenue declined by 7.0% to $174.0 million, representing 75.3% of total revenue, up by 72 basis points. The company noted progress in its WIN growth plan, including reduced revenue decline rates in the QxH segment and revenue growth on social and streaming platforms. Operating income and adjusted OIBDA margin were impacted by higher marketing and fulfillment costs, lower product margin, and increased tariffs, partially offset by favorable commission rates. Cash and cash equivalents were $1,817.0 million as of September 30, 2025, with total subsidiary level debt at $5,046.0 million.
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