Evine Sales Flat In Second-Quarter

Catching up here, on the second-quarter results that Evine posted last week.

Everythng’s relative, we guess, and the No. 3 home shopping reported basically flat sales, up just over 1 percent to $150.8 million. Since HSN was down 11 percent and QVC saw a 4 percent gain.

Evine cut its net loss, bringing it down to $40,000, “improved by approximately $2.0 million year-over-year, representing the best second quarter performance since fiscal 2000,” according to the company. It also boasted that it had introduced 17 new brands during the second quarter.

And there were lengthy remarks Evine CEO Bob Rosenblatt.

We had a very productive quarter and I’m pleased with our results. We not only accelerated top line growth, but we improved bottom line profitability and grew Adjusted EBITDA by 12 percent year-over-year. We also strengthened our balance sheet and overall liquidity with an amendment of our credit facility that will provide interest expense savings and additional availability.

Our expertise is in building great brands. We do this by curating a portfolio of enticing products that have a unique story and then, with the right storyteller, we bring these products and brands to life across all of our platforms.

We strive to keep our content fresh and relevant with a combination of both core and new brands. To that end, we introduced 17 new brands during the quarter and celebrated a number of milestone anniversaries. Additionally, during the quarter, we continued to advance our digital and social initiatives, grow our subscription business and increase purchase frequency.

As previously announced, Evine noted that Anne Martin-Vachon had joined the network as president Aug. 1, and oversees merchandising, marketing, digital, broadcast and production. Previously, Martin-Vachon was president of the Canadian multiplatform digital commerce company TSC – Today’s Shopping Choice, a division of Rogers Media.

Evine also said that:

* The top performing category in the quarter was beauty and wellness, which grew 27 percent year-over-year, reflecting continued strength from our subscription business.

* Digital net sales as a percentage of total net sales increased 450 basis points to 52.6 percent, reflecting a continued focus on making the customer experience seamless across all platforms.

* The return rate for the quarter was 18.7 percent; an improvement of 40 basis points year-over-year and across multiple categories.

* Gross profit dollars increased to $56.9 million and gross profit margin was 37.7 percent.

* Operating expenses decreased 1.7 percent or about $1 million year-over-year to $56.0 million, reflecting reduced variable selling and distribution expenses.

Advertisements

Tags: , , ,

11 Responses to “Evine Sales Flat In Second-Quarter”

  1. Kim Says:

    Introducing 17 new brands probably means 17 others went south. Still hate this channel.

  2. Barbara Says:

    What a basket full of business buzzwords! They “curated” products (the buyers selected some products). They have a “story” (information about the product) and “storytellers” (TV hosts, i.e., salespeople). “Advance our digital and social initiatives” (make the channel available online and use social media to promote it). And… drum roll… EBITDA. (Earnings before interest, taxes, depreciation, and amortization) You can’t do a good business press release without mentioning your EBITDA. It’s the cherry on top.

    Despite the executives’ fuzzy buzzies, I like Evine for jewelry. I am still loyal to them from the old ValueVision and ShopNBC days when gold was affordable. Today, they do a good job with high end silver jewelry. Their hosts are watchable; they talk about the products, not about their personal lives, like the hosts on a certain other channel.

  3. Queen Celeste Says:

    Barbara, the use of “story” reminds me of a time shopping at the fashion jewelry counter at Nordstrom. Managers or bigwigs of some sort were looking over the displays and one woman starting going on about the “color story,” bossily instructing the overwhelmed clerk how the jewelry should be displayed. A most cringeworthy display of bad manners. I think, or hope, I rolled my eyes at the clerk in solidarity.

    Agree about Evine for jewelry. Have been a customer since those early days, too, and own so many gorgeous pieces from them. I live for their wonderful markdowns! Also love the hosts and still miss so many of them.

  4. carolyn simpson Says:

    loved value vision always got the wonderful gold deals. loved the Berkovits boys. the clearance sales are wonderful at evne. I do very little at qvc. the prices have gone up outrageously and the quality has gone down, I watch hsn when Adrian Arpel is on cuz I get a good laugh. Ms. Moss, its so good to hear from you.I hope you are well

    • Annette Says:

      I have never cared for QVC, although I like some of the hosts. Their prices have always been higher and the sets are over done, for the most part, and distracting. And like all the other channels, prices up and quality down ☹️
      I still shop at Evine occasionally although I agree with Jerri that it was in better form as shop NBC. I used to love HSN because they had some great values and well made items. And Adrienne can be fun to watch. About 20 years ago, she had some pretty nice (and nicely priced) skin care. It has changed and I wouldn’t buy it now, though I do watch her for old times sake.
      I predict the shopping channels will all lose money in this economy, unless they go back to the way they used to be (another nod to Jerri).
      I can’t get value vision in my area, unfortunately. But all in all, I’m rarely shopping on TV channels anymore. They have nothing I want.

  5. Lovie Says:

    Totally off topic,but does anyone know what happened to Casey Taylor on JTV? She’s been snatched from the “Meet The Hosts” page and her JTV facebook page has been deleted.

  6. Jerri Says:

    I haven’t cared for this channel since it changed its name from Shop NBC. To me, it was better back then and offered some great jewelry sales and selections (as you have all mentioned), some unique products, and their clearance prices were great. I seldom watch them, or any other shopping channel, and buy no more.
    All the channels need to take a step back and see what they are supposed to be. They aren’t high end retailers…people who want that go to Saks or similar. Who wants to pay high prices for poorly crafted junk?
    Lovie, I do occasionally watch JTV, but I didn’t notice Casey’s absence. I can only guess that they’re playing musical host chairs again. Another shopping channel habit that has gotten way annoying.
    If you want to show profits, shopping channels, listen to your audience…we are on forums like this….and get back to being great values on everyday items you don’t see in brick and mortar. Quit celebritizing your goofy hosts and hire people who let the vendors speak for their products. You’ve lost me and several of my family and friends, and many others. Go back to the old days…around the late 1990s… and see what you did right.

    • Gina Says:

      I agree with your post, Jerri. I miss “the old days” of home shopping. Especially HSN. I used to find some great deals on there. I always found some silver jewelry that was a good buy. I always watched for Jay King and Suzanne Somers mark downs. Among others. I also found some wonderful clothing.
      Unfortunately, those days are gone. I think they could be brought back for today’s market, but only if the TV shopping channels would try to do it. Since they aren’t or won’t, I don’t buy anymore, either. The quality of just about all the merchandise, on every channel, has become very poor.
      HSN has always been my favorite. My last purchases from there were terribly disappointing, and got sent back. Colleen Lopez jewelry had bad stones, stones missing, or the settings were flimsy. Her clothing line, along with several others I tried from HSN, was shoddily made, and the sizes were inconsistent. There were seams that were not finished, so there were a couple inches or more of a hole or split on the seam! And the materials were scratchy, itchy feeling, or pilled and shed all over. And I’m not just picking on Colleen. I have bought jewelry and clothing from several other lines on there that were poorly made, as well. They made clothing from Walmart look high end. (I just want to add that I’ve had some very good clothing purchases from Walmart. Clothes that were comfortable, nice looking, and lasted a long time.)
      I think we need to go back to brick-and-mortar stores, if we can find them. I am leery of buying almost anything online after the shopping channel garbage. I have some go-to online stores for home goods and clothing, and for jewelry, I shop discount stores like Marshall’s or TJ Maxx. Sometimes Ross has some good buys on jewelry. I mostly wear silver, and these stores usually have some good choices.
      All in all, I don’t see a very good future for these channels. True, the economy is in bad shape (I don’t care what anyone says to the contrary), but people in general want better for their hard earned money. There will always be the followers on TV shopping. They live for “the list” and similar. But thise who think for themselves and want better for their money, will go elsewhere. The numbers that Miss Moss posts for us are showing that.

    • Ryanne Says:

      Amen, that! You have written many of our sentiments in your post, Jerri. I haven’t shopped on TV in about 5 years. Everything was junk that I had to return. Size irregularities with clothes, unfinished seams, jewelry missing stones or broken….the list goes on. HSN has always been my fave, though I liked Shop NBC, too. I like some of the hosts on QVC, but their inventory has always been way over priced. Now, I watch HSN, and some of the others for entertainment and noise companionship when the house feels too empty! That’s it!
      They won’t change and certainly won’t go backwards (though that would help them a lot) so we have to kiss the good old days goodbye. I don’t buy from Amazon unless it’s dire; they are not good to do business with. Shady. So, I look for online bargains elsewhere and regularly visit markdown stores like TJ Maxx and Ross Dress for Less. And although I miss home TV channel shopping, I’m doing just fine without it. THAT is the message we need to spread to our friends and families.

  7. Queen Celeste Says:

    Speaking of Evine, Kelly Repassy formerly of HSN (and introduced at the first plus-size supermodel) is on with Kimberly, representing the Blutique line. And a promo announced that Carole from RHONYC will on be on Evine After Dark, touting heaven knows what!

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s


%d bloggers like this: