West Chester-based QVC Group reported a nearly $1.3 billion operating loss for the fourth quarter, with total revenue falling six percent to $2.9 billion, writes Nate Delesline III for the Retail Drive.
Overall in fiscal 2024, total revenue decreased by eight percent to $10 billion, down from $10.9 billion in 2023.
The company noted that it faced major challenges in the second half of the year that included competing for viewership with the Olympics and the election. Another cited challenge was a “conservative consumer environment.”
The company recently extended CEO David Rawlinson’s contract through 2027 with an option to stay on through the end of 2028. Since taking over in 2021, Rawlinson has led QVC Group through several major decisions and challenges, including a fire at the company’s North Carolina fulfillment center, layoffs in 2023, and the sale of Zulily in that same year.
Rawlinson said that despite some of the setbacks, “as shopping grows quickly on social and streaming platforms, we are well positioned to use our exceptional content creation and selling capabilities to capture market share.”
“We still believe retail can be joyful and human,” he added.
Read more about QVC Group’s revenue decreasing amid some setbacks in the Retail Drive.
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Editor’s Note: This post first appeared on VISTA Today in March 2025.
