FinancialsApr 24, 2025
Charles & Colvard Delisted From Nasdaq Due to NoncomplianceFinancialsMay 20, 2025
QVC Group to Voluntarily Delist from Nasdaq
The company announced a reverse stock split and, as such, will no longer meet the stock exchange’s listing requirements.
QVC Group has announced it will voluntarily delist from Nasdaq by May 27.
Englewood, Colo.—QVC Group, the parent company of HSN and QVC, has announced it will voluntarily delist from the Nasdaq stock exchange.
The decision follows a 1-for-50 reverse stock split of the company’s shares, which was approved by its board of directors at its annual meeting on May 12.
In a reverse stock split, the number of shares a person owns is reduced while the price of each share is increased in a comparable way.
In a 1:10 reverse stock split, for example, someone who owned 1,000 shares trading at $5 would then own 100 shares at $50 each after the split.
The reverse stock split will take effect on May 22 after the markets close.
QVC Group’s board opted for a reverse stock split to help the company to regain compliance with the minimum bid price requirement of $1 per share for its continued listing on The Nasdaq Capital Market exchange.
However, after the split takes place, QVC doesn’t believe it will be able to meet the listing requirements and has decided to voluntarily delist by May 27.
The company has applied for its stock to be listed on the OTCQB Venture Market instead.
The transition is subject to customary conditions and regulatory approval, QVC Group said, adding that it does not guarantee its stock will be listed on the OTC.
The retailer first announced it was at risk of being delisted in June 2024, as it continued to battle declining sales.
Most recently, it reported a 10 percent year-over-year decline in revenue, which CEO David Rawlins attributed in part to the drop in live TV viewership, declining consumer confidence, and its customers being “distracted” by current events.
Related stories will be right here …
The decision follows a 1-for-50 reverse stock split of the company’s shares, which was approved by its board of directors at its annual meeting on May 12.
In a reverse stock split, the number of shares a person owns is reduced while the price of each share is increased in a comparable way.
In a 1:10 reverse stock split, for example, someone who owned 1,000 shares trading at $5 would then own 100 shares at $50 each after the split.
The reverse stock split will take effect on May 22 after the markets close.
QVC Group’s board opted for a reverse stock split to help the company to regain compliance with the minimum bid price requirement of $1 per share for its continued listing on The Nasdaq Capital Market exchange.
However, after the split takes place, QVC doesn’t believe it will be able to meet the listing requirements and has decided to voluntarily delist by May 27.
The company has applied for its stock to be listed on the OTCQB Venture Market instead.
The transition is subject to customary conditions and regulatory approval, QVC Group said, adding that it does not guarantee its stock will be listed on the OTC.
The retailer first announced it was at risk of being delisted in June 2024, as it continued to battle declining sales.
Most recently, it reported a 10 percent year-over-year decline in revenue, which CEO David Rawlins attributed in part to the drop in live TV viewership, declining consumer confidence, and its customers being “distracted” by current events.
The company has made a few notable changes lately in an effort to turn around the business, including changing its name from Qurate Retail Inc. to QVC Group.
The new name better highlights QVC, its largest brand, and supports the brand’s growth strategy as it aims to expand into a live social shopping company, it said.
In February, QVC Group announced it would close HSN’s campus in St. Petersburg, Florida, as part of its restructuring plan.
In March, the retailer named Alex Wellen its new president and chief growth officer, and the following month, announced it would be laying off 900 U.S. employees, or about 5 percent of its global workforce.
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