Facing declining
revenue, mounting losses, and fewer TV viewers, QVC is eliminating 900 jobs and shifting focus to live social commerce.
QVC Group, which owns QVC, HSN, and home and lifestyle brands like
Ballard Designs, Frontgate, and Garnet Hill, says the cuts are part of a broader effort to become a leader in live video-driven shopping. The company, which recently changed its name from Qurate to
QVC Group, will also consolidate operations in West Chester, Pennsylvania.
The shift marks a deeper move away from legacy sales channels such as linear TV and print catalogs. Instead, QVC aims
to build what it calls the world’s leading live social shopping content engine, delivering real-time shopping content “wherever she shops.” That includes social platforms, mobile
apps, and other digital screens.
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Company executives say the timing is right. They expect shopping on social platforms to double in the next five years, with 68% of those purchases made on
impulse. That trend plays to QVC’s strengths, especially for fast-moving categories like seasonal décor, giftables, and home goods.
Still, the changes come amid deep financial
challenges. In its most recent quarter, the company reported a 6% drop in revenue to $2.94 billion, compared to $3.14 billion a year ago. Losses ballooned to $1.27 billion, driven largely by a $1.5
billion impairment charge.
QVC hasn’t posted a sales gain since August 2021, and the audience for its core channels continues to shrink. “Comparing 2024 to 2018, QVC and
HSN’s main channels reached 44% and 47% fewer homes, respectively,” said David Rawlinson, president and CEO, during a recent earnings call. He attributed the most recent sales slump to
distracted viewers focused on elections and hurricane coverage, as well as more cautious consumer spending.
“We are moving quickly to transform into a scaled player in live social
shopping and believe we have the key assets to win in this market,” Rawlinson said. QVC has extended his contract for another three years.