Archive for the ‘Kris Kulesza’ Category

ShopNBC Racks Up 6 Percent Sales Gain In Second Quarter

August 18, 2010

No. 3 home shopping network ShopNBC posted a strong second quarter Wednesday, with net revenue rising 6 percent versus last year, to $126.2 Million.

ShopNBC also reduced its losses compared with the year-ago period, to just $1.9 Million From $5.7 Million.

But for the first six months of the year, ShopNBC’s sales have dipped slightly, down just a hair under 1 percent to $251.2 million.

An another top company official, senior vice president of merchandising Kris Kulesza, is exiting effective Aug. 20. His position won’t be filled.

“We are pleased with our second quarter progress, reflecting another consecutive quarter of overall improved performance,” ShopNBC CEO Keith Stewart said in a canned statement.

“Positive customer activity trends and strong gross margin rates, along with disciplined execution in merchandising and financial planning, helped drive the business on the top- and bottom-line,” he added. “Going forward, we recognize there is still much work to be done. We continue to prudently manage our working capital while focusing on increasing the top line through improved merchandising strategies, aligning price points with consumer demand, and refining our customer outreach initiatives during the second half of the year.”

Second quarter revenues rose 5.7 percent to $126.2 million. As part of its on-going strategic initiatives, the company further lowered its net average selling price to $97 from $112 in the year-ago quarter, while increasing net shipped units by 22 percent.

E-commerce sales penetration represented 39.4 percent of total company sales in the quarter, up 860 basis points from the prior-year period.

Customer trends continued to improve with new and active customers increasing 39.5 percent and 26.5 percent respectively, on a 12-month rolling basis versus the same period last year.

Return rates for the quarter declined to 20.6 percent versus 21.8 percent in the year-ago quarter, reflecting improvements in
overall customer satisfaction and the benefit of strategic pricing changes.

Gross profit increased 13 percent to $47.2 million and gross profit margin improved 260 basis points to 37.4 percent versus 34.8 percent last year, largely driven by merchandise margin rate improvements across several key categories.

Adjusted EBITDA was a loss of $1.9 million compared to an adjusted EBITDA loss of $5.7 million in the year-ago period, driven by improvements in sales and gross margin.

Operating expenses in the second quarter increased roughly 2 percent to $53.4 million, as a result of the company’s net sales growth.

Net loss for the second quarter declined to $7.7 million compared to a net loss of $8.2 million for the same quarter last year.

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ShopNBC’s CEO Made $362,000 Last Year In Compensation, Down From $1.5 Million In 2008

May 15, 2010

ShopNBC CEO Keith Stewart

ShopNBC’s proxy statement was filed last week, and it wasn’t exactly a great year in terms of the cash compensation shelled out to the network’s top dogs.

For example, it looks like Keith Stewart, the homeshopping channel’s CEO, took a substantial cash pay cut. He collected $361,539 last year, just about one-fourth of the $1,525,995 he made in 2008, according to Page 24 of the filing with Securities and Exchange Commission.

Stewart’s “targeted” cash comp in 2009 was a tidy $1,137,500. But the QVC alum didn’t get that, apparently because ShopNBC did not hit its goals.

“No annual cash incentives were paid with respect to fiscal 2009 since the minimum financial threshold for the 2009 annual incentive program was not attained,” the proxy said.

Frank Elsenbast, ShopNBC’s senior vice president and chief financial officer, received cash comp last year of $306,600 versus $328,742 the prior year.

Carol Steinberg, ShopNBC’s senior vice president of e-commerce, made $475,991 in cash comp.

Kris Kulesza, senior vice president of merchandising, collected $325,000, just about half of the cash comp of $601,312 he received in 2008.

And Nathan Fagre, senior vice president and general counsel, made $318,600, just a bit less than his $338,101 he received in 2008.

ShopNBC’s first-quarter conference call is Wednesday, so let’s see how the channel does.

ShopNBC To Unveil Fifth Painting in Thomas Kinkade Disney Dreams Collection

March 4, 2010

Thomas Kinkade, the so-called “Painter of Light,” will present the worldwide TV unveiling of the fifth piece of 12 in his “Disney Dreams Collection” on ShopNBC Thursday.

The newest Studio Masterwork premieres at 8 p.m.

ShopNBC will showcase the unveiling as well as other works by the artist in the show series, “Thomas Kinkade, Painter of Light,” which features exclusive prints, limited editions, and new format releases. As part of the unveiling, Kinkade will reveal the theme and present the fifth part of the “Disney Dreams Collection.”

Thomas Kinkade

The show will also introduce new items from Kinkade, including new formats of the first four works in the Disney Dreams Collection: “Snow White Discovers the Cottage,” “Pinocchio Wishes Upon a Star,” “Tinker Bell and Peter Pan Fly to Neverland” and “Cinderella Wishes Upon a Dream.”

“We are delighted to be the venue of choice for Thomas Kinkade’s worldwide release of his newest masterpiece in the Disney Dreams Collection,” said Kris Kulesza, ShopNBC’s senior vice president of merchandising. “We are thrilled to offer our customers beautiful artwork as we continue this partnership with one of today’s finest artists. This exciting event will provide Disney fans, Thomas Kinkade collectors, and our ShopNBC viewers the opportunity to add a limited edition work of art to their collection.”

Upcoming ShopNBC Exclusives from Kinkade include:

— “Snow White,” “Pinocchio,” and “Tinker Bell and Peter Pan” (K25558), images from the Disney Dreams Collection in gallery wrap canvas format.

— “Cinderella Wishes Upon a Dream” (K34614), the fourth piece in the Disney Dreams Collection in gallery wrap canvas format.

— “Cobblestone Bridge,” “Cobblestone Brook,” and “Cobblestone Lane” (K34670), The old-world romance of cobblestone paths brought to life with Kinkade’s tranquil style.

— “Bridge of Hope” (K34776), custom framed and professionally matted print with certificate of authenticity.

“I am excited to unveil my newest Disney Dreams Collection image on ShopNBC’s progressive distribution channel,” Kinkade said in a canned statement. “Each painting in the series presents not just a scene from a classic Disney feature, but a vision of the entire movie in one image — what I like to call a narrative panorama. I look forward to bringing the story behind the fifth painting to life on ShopNBC, and seeing the instant reaction from viewers and collectors alike.”

Thomas Kinkade Co. publishes the work of Thomas Kinkade and distributes his art and related collectibles through independently owned galleries worldwide, an extensive network of branded and licensed dealers, and strategic marketing relationships with more than 70 licensees.

The company’s primary products are canvas and paper reproductions that feature Kinkade’s artistic unique use of light and his peaceful and inspiring themes. Kinkade, known as the “Painter of Lightâ„¢,” is the most collected living artist in U.S. history.

Not To Be Undone By QVC, ShopNBC Expands Black Friday to Holiday Shopping Weekend Must-Haves

November 26, 2009

ShopNBC has launched an expanded Black Friday promotion with Holiday Shopping Weekend Must-Haves.

This special sales event extends the traditional Black Friday deals by beginning Wednesday and continuing through Cyber Monday, Nov. 30.

QVC also has a big Black Friday schedule planned starting Thanksgiving night.

The ShopNBC sales event will feature a “Holiday Gift Giving Made Easy” theme with gift ideas for him, her, and the entire family, including jewelry, watches, beauty, fashion, electronics and home decor.

All items featured during the event will be eligible for ValueShipping, 5 ValuePay offers, guaranteed Christmas delivery, and an extended return policy through Jan. 31. Plus, throughout the event, select items will be featured on 6 ValuePay.

Top 10 Expanded Black Friday Must-Haves from ShopNBC:

1. Mitsubishi 60″ DLP HDTV (V51644 & V51645).

2. Invicta Reserve Specialty Subaqua GMT/Alarm Watch (J177785).

3. BodyBlade Core Trainer (C74042).

4. Grand Suites 1000TC 6pc Egyptian Cotton Sateen Sheet Set (G13402).

5. “Fantastic Five” Tiffany-Style Stained Glass Accent Lamp Set (K40265).

6. Sterling Silver/ Palladium/ 18K Vermeil Kingman Turquoise Ring (J311534).

7. Sterling Silver/Platinum/ or 24K Vermeil Brilliante In-Out Hoop Earrings (J315960).

8. Geneology Fashion DNA Quilted Coat (A18333), which is Thursday’s Our Top Value.

9. Dream Oaks Micro Plush Oversized Reversible Throw Blanket (G13325).

10. Waltham Women’s Lady Diva 25 Piece Interchangeable Watch Wardrobe (J177795).

“We are thrilled to expand Black Friday for our viewers with this Holiday gift giving event,” Kris Kulesza, ShopNBC’s Chief Merchant, said in a prepared statement.

“By revealing our Thanksgiving Weekend offers on Wednesday, we are able to give our customers an expanded shopping opportunity from wherever they desire to shop: home, work, on the go,” he said. “Throughout the weekend, viewers will find a unique selection of great gift ideas from fashion, beauty, electronics, jewelry, watches, and home. With all of the exciting offers and expanded merchandise categories launching on ShopNBC, we are well-positioned as a true multichannel shopping destination for our customers this Holiday season.”

The grand finale of the weekend will be Cyber Monday. Special promotions include Web-exclusive top offers, special pricing on luxury watches, and 5 ValuePay on all online merchandise. ShopNBC.com will offer a huge selection of more than 10,000 items ideal for gift-giving, including a newly expanded assortment of web exclusive brands such as Singer Sewing, Samsonite, Wenger Watches and more.

On The Eve Of Third-Quarter Earnings, ShopNBC Racks Up Big Sales With 24-Hour Consumer Electronics Event

November 10, 2009

Consumer electronics are doing well for home shopping channels like ShopNBC, which had its single largest sales day since mid-2008 this past Sunday with its “24-Hour Holiday Electronic Gift Celebration,” the company said Monday.

The one-day sales event generated about $3.6 million in net revenue while driving significant active customer activity with a 37 percent new-customer count. That was the network’s biggest score since June 22, 2008.

The ShopNBC 24-Hour Holiday Electronic Gift Celebration featured gift ideas from HDTVs to notebook technology packages. ShopNBC hosts and expert guests demonstrated an array of brand-name electronics including HP, Mitsubishi, iLuv and iHome.

“We are pleased to announce the success of this sales event, which showcased the most consumer electronics products ever featured in one day across our multichannel platform,” Kris Kulesza, ShopNBC’s senior vice president of merchandising, said in a prepared statement. “Viewers responded strongly by voting with their wallets. New and active customers are reacting favorably to our initiatives. We look forward to continuing the momentum of unlocking our customer growth potential.”

John Schrogie, director of housewares and electronics, also chimed in.

“From HDTV gifts for the whole family to devices that turn memories on film into digital format, both tech-savvy and not-so-tech-savvy viewers discovered great holiday gift ideas while being educated and entertained with unique electronic finds that made their lives easier,” Schrogie said. “It’s an exciting preview of what’s to come in electronics on ShopNBC.”

The Top 5 best sellers of the ShopNBC 24-Hour electronic event were:

1. HP 17.3-inch 500GB Blu-ray Notebook Package

2. Mitsubishi 60-inch DLP TV

3. MSI Notetop

4. Pentax W80 Waterproof Camera

5. IT 5in1 Retro Turntable