QVC Group is seeing sharp drops in its business as shoppers are spooked by tariffs and reducing their time spent watching linear television, where QVC sells its wares.

On Wednesday, QVC Group reported a first-quarter net loss of $91 million, versus a net profit of $8 million in the year-ago quarter.

For the three months ended March 31, operating income fell 90 percent to $14 million from $145 million in the year-ago period.

Total adjusted operating income before depreciation and amortization declined 32 percent to $177 million from $259 million. QVC Group believes adjusted OIBDA is an important indicator of the operational strength and performance of its businesses. Recently, QVC has incurred restructuring and other charges, some related to technology changes and consolidations.

Revenue in the first quarter decreased 10 percent to $2.1 billion from $2.34 billion. The company cited a 10 percent decrease in units shipped, a 2 percent decline in average selling price, and lower shipping and handling revenue, partially offset by favorable returns. Sales declines were seen in all categories of merchandise.

In after-hours trading Wednesday afternoon, QVC’s stock was down 28 percent to 14 cents.

“In the first quarter we faced a challenging market backdrop. While the impacts are being felt across retail, we are particularly challenged as linear television viewership continued to decline, and tariff volatility strongly impacted consumer sentiment in discretionary retail,” David Rawlinson, president and chief executive officer of QVC Group, said in a statement. “We continue to execute on our long-term strategy and are working to remain agile as we navigate these current headwinds. In particular, we believe social shopping is a transformative opportunity and are moving quickly to be a leader here. QVC’s agreement with TikTok is a first of its kind partnership for 24/7 content creation and is one example of the innovation we will continue to deploy to reinvent our business.”

QVC Group is deepening its partnership with the TikTok social and e-commerce platform, which provides 24/7 shoppable livestream content and a larger swath of brands and products.  The group will be creating TikTok-specific content out of dedicated studio space in Studio Park, the headquarters of QVC and HSN in West Chester, Pa., and nationwide with partnering TikTok creators. QVC initially launched on TikTok Shop in August 2024.

QVC Group’s portfolio includes QVC, HSN, Frontgate, Ballard Designs, Garnet Hill and Grandin Road.

The company started the year by consolidating the U.S. operations of QVC and HSN, shutting down HSN’s St. Petersburg, Fla., operations and consolidating them into QVC’s Studio Park in West Chester, leading to approximately 900 job cuts. In a Securities and Exchange Commission filing, the company said it had around 17,000 employees globally, meaning around 5 percent of its workforce had been impacted by the cuts, though there could more cuts at the company’s overseas operations. In February, the company changed its name to QVC Group from Qurate.