Archive for the ‘Mindy Grossman’ Category

HSN Terminates $1.3 Million Merchandising Chief Lynne Ronon, But It’s ‘Mutual’

May 18, 2011

Those sly pusses at HSN. They waited until after 5 p.m. today to announce that they have parted ways with Lynne Ronon, the network’s executive vice president of merchandising.

HSN filed an 8-K with the Securities and Exchange Commission Wednesday that disclosed the news.

“Efective May 18, 2011, Barbara Lynne Ronon and HSN, Inc., a Delaware corporation (the ‘Company’), mutually agreed to end Ms. Ronon’s employment with the Company,” it said. “The Company and Ms. Ronon have agreed to treat this as a termination without ‘Cause’ under the Company’s Named Executive Officer and Executive Vice President Severance Plan which was previously filed with the U.S. Securities and Exchange Commission.”

Last year Ronon received $1.3 million in compensation from HSN. We assume she banked at least someo of that for a rainy day.

It looks like another big move by HSN CEO Mindy Grossman, the Terminator.

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HSN Sees Slight Sales Rise, Just 1 Percent, In First Quarter

May 4, 2011

Pardon us for being late with this report, but we were up until 2:30 a.m. covering and writing up a Montclair Township Council meeting. Duty called.

While we still in bed sleeping this morning, HSN reported that its net sales increased 1 percent, to $526.2 million, following comparable sales growth the prior year of 9 percent. Not exactly a great first quarter, it seems to us.

The sales growth, such as it was, was driven by electronics and fashion, partially offset by lower sales in fitness and housewares.

HSN.com sales increased 7 percent over the prior year’s increase of 15 percent and represent 33.2 percent of HSN’s net sales, up from 31.6 percent in the prior year.

Average price point and units shipped increased 4 percent and 1 percent, respectively.

“The return rate increased 250 basis points primarily due to higher than anticipated returns of certain electronics sold in the fourth quarter of 2010 and changes in product mix,” HSN said.

HSN’s gross profit increased 3 percent to $177.2 million. The increase was primarily attributable to decreased shipping costs due to a new outbound shipping contract.

Adjusted EBITDA increased 4 percent to $52.2 million compared to $50.3 million in the prior year. The increase was due to the 3 percent increase in gross profit, partially offset by a 3 percent increase in operating expenses, excluding non-cash charges.

Operating income was $40.8 million versus $39.3 million in the year-ago period.

“Our focus on maximizing performance through innovative product launches and events, strategic partnerships and increased digital efforts led to HSNi sales growth of 6 percent, e-commerce sales penetration of 40 percent and an Adjusted EPS gain of 14 percent,” HSN CEO Mindy Grossman said in a canned statement.

“We are committed to positioning our business for long-term success by delivering on our strategy of offering unique products and experiences, deepening customer engagement and accelerating e-commerce growth across the portfolio,” she said.

Mmmmmm….no glowing words specifically about HSN, the home-shopping network piece of the business.

We’ll try to catch a replay of the conference call later.

HSN CEO Mindy Grossman Took Home A $12 Million Paycheck Last Year

April 5, 2011

HSN CEO Mindy Grossman is a multi-milllion dollar woman, raking in $12.1 million in compensation last year, triple what she made in 2009.

Grossman’s compensation was reported in an HSN filing, page 37, with the Securities and Exchange Commission Monday. Her payment package included a $1.16 million base salary, $5.7 million in stock awards, a $2.1 million non-equity incentive plan bonus and $194,000 in other compensation.

The “other” compensation was $114,000 for housing, a $50,000 reimbursement to Grossman for legal fees incurred in connection with an amendment of her employment agreement, and $30,000 for a car.

Mindy, can we borrow $1 million?

Last year’s $12.1 million in compensation was a nice bump up from the $4.1 million Grossman received in 2009.

And it appears that in 2010 Grossman did better than Greg Maffei, who is president and CEO QVC’s parent, Liberty Media Corp. Maffei received $6.4 million in total compensation last year, with a $1.5 million base salary, according to a filing Liberty made with the SEC Monday.

One of Maffei’s performance objectives was “increased focus by QVC on international and Internet expansion.”

Back over at HSN, the rest of Grossman’s management did pretty well.

Chief financial officer Judy Schmeling’s 2010 compensation was $1.9 million, up from $1.4 million in 2009. Her base salary last year was $562,000.

Lynne Ronon, HSN’s executive vice president of merchandising, received $1.3 milllion in 2010 compensation, down slightly from the $1.4 million she received the prior year.

Our Ex-Colleague’s Profile Of ‘Nice Jewish Girl’ Mindy Grossman, HSN’s CEO

March 8, 2011

Mindy Grossman

We’re behind here, but check out our former colleague Mike Farrell’s very well-done profile of HSN CEO Mindy Grossman. You’ll recognize the head shot.

Grossman is one of the Multlchannel News “Wonder Women” this year. We worked at Multichannel, a cable-TV trade paper, for 16 years before being downsized.

But we did write two Wonder Woman profiles this year, on Lori Conkling of A&E Television Networks and Christina Miller of Turner Sports and Cartoon Network Enterprises.

HSN Dispatches Bigwigs To ‘Fireside Chats’ At Two Investor Conferences

February 25, 2011

HSN will be sending honchos to two coming investor conferences, it said Thursday, for “fireside chats.”

HSN CEO Mindy Grossman will participate in the Lazard Capital Markets Technology and Media Conference in Boston on March 14 at 11:30 a.m.

HSN chief financial officer Judy Schmeling will participate in the ROTH Capital Partners 23rd Annual OC Growth Stock Conference in Laguna Niguel, Calif., on March 16 at 9:30 a.m.

The format of both sessions will be a “Fireside Chat,” according to HSN’s press release. That’s a new one on us.

If you want to hear a live broadcast of both presentations, you can visit the investor relations section of HSN’s website at http://www.hsni.com.

For those unable to participate, an archived broadcast will be available shortly following the presentation.

HSN, DKNYC Team To Support Female Troops With Special Watch For ‘Fatigues To Fabulous’

February 16, 2011

HSN and DKNYC are teaming up on a “Fatigues to Fabulous” initiative, by launching a watch that features traditional dog tag imagery, the home shopping network said Tuesday.

“Fatigues to Fabulous,” or F2F, aims to raise public “awareness of the contributions of women soldiers and the physical, emotional and psychological challenges uniquely faced by women transitioning home from war,” according to the press release.

It’s an effort being spearhaded by Grace After Fire and the Society for Women’s Health Research (SWHR).

The DKNYC watch will be available exclusively at HSN and HSN.com this summer. Customers can sign up for updates on the watch at http://bit.ly/hsn-fatigues-to-fab and visit http://www.fatiguestofabulous.com for campaign details.

“Women in uniform are warriors and heroes, and they’re also wives, mothers, sisters, daughters and friends,“ HSN CEO Mindy Grossman said in a canned statement. “We are indebted to them for their dedication to serving our country and want to give them a ‘badge of honor’ that’s fabulous and stylish – and that we can wear to show we support them.”

For each watch sold, “HSN Cares” and DKNYC will donate a portion of the proceeds to Fatigues to Fabulous. “HSN Cares,” HSN’s charitable campaign, is devoted to helping women and families by raising awareness and funds for trusted organizations.

“’Fatigues to Fabulous’ is a campaign that speaks to women, in a woman’s voice, honestly, about the serious issues they are facing when they come home from war,” said Air Force pilot and Iraqi war veteran Col. Kim Olson, executive director of Grace After Fire. “We are getting the word out that they need help. Help with basics from health and employment to literally ‘what to wear’ to feel confident now that they are out of uniform. We’re delighted that the fashion industry is putting its substantial muscle behind the gals who have been putting their muscle up to defend our nation for so long!”

Donna Karan International chairman Mark Weber said, “As a brand that celebrates the lives and spirit of women, we are enormously proud to support the women who have bravely given so much to serve our country. Fatigues to Fabulous is the way we and our industry can show these women that we recognize the challenges they face and contribute to the work of Grace After Fire and SWHR in easing the transition for women veterans.”

More than 1.8 million women have taken up the call to serve. F2F is designed to raise awareness of the contributions veteran women are making in the protection of our nation, and the challenges they face upon return. Among them, having spent their service years in uniform, the emotional challenges of re-uniting with their more feminine side can be daunting. The campaign is working with the fashion industry to help women make the transition to a civilian wardrobe, raise awareness of the challenges they face, and harness resources to support them.

“The resources currently available to veteran women are simply not yet fully designed for the needs of the 25-year-old young mother who has returned from a year away on active duty,” said Olson noting that the average age of a female veteran is 48, and the age of the most recently discharged just 30.

“She may not find the OB/GYN services needed, adequate childcare for a four-hour appointment, nor privacy for the examinations. Our mission is to reach these young women, help them navigate the resources available and mentor them as they transition back to civilian life.”

Women currently make up 20 percent of the new recruits to the military, and female veterans have become the fastest growing sector of Veteran Administration (VA) patients. Yet, only 14 percent of women veterans access VA healthcare. The SWHR has testified before Congress to draw attention to the growing needs for better health resources and outcomes for women veterans.

HSN Names Jill Braff Executive Vice President Of Digital Commerce

February 2, 2011

HSN Tuesday appointed Jill Braff executive vice president of digital commerce, effective Feb. 7.

Braff will report directly to HSN CEO Mindy Grossman.

In her new position, Braff will oversee HSN’s existing e-commerce, mobile and social media platforms. In addition, she will manage the development and implementation of new multi-platform initiatives. HSN’s e-commerce, digital marketing, merchandising and advanced services teams will report to Braff.

“Jill’s appointment underscores HSN’s commitment to further advancing our e-commerce platform and continuing to elevate the company’s position at the forefront of transactional innovation,” Grossman said in a canned statement. “A results-driven media executive with experience in consumer entertainment and emerging technologies for publicly traded companies, Jill will help expand HSN’s reach to customers both online and on-the-go.”

Prior to joining HSN, Braff was CEO and president of Scrapblog, a photo social-media website with more than 2.5 million registered users. Previously, she spent six years as the senior vice president of global publishing for Glu Mobile (GLUU), a leading mobile game publisher. She has also held positions at Ancestry.com, The Learning Company/Mattel Interactive, Sega of America and Nintendo of America.

Braff has received several awards and accolades throughout her career, including Top 10 Women in Wireless by Fierce Wireless (2009), Top 50 Women in Mobile Content by Mobile Entertainment (2009) and 40 Most Influential People Under 40 in Silicon Valley by Silicon Valley Business Journal (2007).

She holds a Bachelor of Arts Degree in English from Colgate University.

HSN To Report Fourth-Quarter Results Feb. 23

January 24, 2011

HSN will release its fourth quarter and fiscal 2010 results Feb. 23, the home shopping network said Monday.

HSN CEO Mindy Grossman and Judy Schmeling, executive vice president and chief financial officer, will hold a conference call at 9 a.m. to review these results.

There will also be a simultaneous audio webcast available via the company’s website at http://www.hsni.com. A replay of the conference call can be accessed until March 9 by dialing 800-642-1687 or 706-645-9291, plus the passcode 38796288 and will also be hosted on the company’s website for a limited time.

HSN Is Getting Quirky, Brillstein Gets A Plug: You Figure It Out

January 4, 2011

HSN is partnering with Quirky to showcase innovative products created by the collaborative efforts of the Quirky online community, the home shopping network said Tuesday.

Got that?

Raise your hand if you’ve heard of Quirky.

You know more than the Homeshoppingista then (what else is new?).

Quirky’s founder and CEO Ben Kaufman will feature Quirky’s products on HSN Jan. 29 and 30, and monthly thereafter.

“Partnering with a forward-thinking brand like Quirky further reinforces our commitment to new product development and innovation,” HSN CEO Mindy Grossman said in a canned statement. “It’s exciting for us to offer our customers unique solution-oriented ideas that Quirky has developed into compelling products.”

Quirky, which launched in June 2009, brings two new consumer products to market each week, “by enabling a fluid conversation between a global community and Quirky’s expert product design staff,” the press release says. WTF?

The release continues, “Each Quirky product solves a problem and carries a great story of the inventors who made it happen. Revenue is shared with those who help bring each product to life.”

Here is Kaufman’s explanation about how, and why, he started his company.

Kaufman is “pumped,” just like any self-respecting, casually clad Web executive would be. Kaufman loves the word “pumped”: He uses it in both his video and in the HSN/Quirky press release.

“We are pumped about this partnership,” he said in his canned statement. “Reaching the massive HSN audience is just one more step in our goal of making invention accessible to all with a great idea — and that’s everyone. HSN customers will now have the opportunity to share their ideas and develop awesome new products of their own.”

Kaufman is some salesman. He convinced his parents to re-mortgage their house and lend him $185,000 to start his company. Ida and Jim would never have gone for that one from us.

Quirky’s high-powered talent agency/manager, Brillstein Entertainment Partners, even got its two cents in, if you can beleive it.

“Our vision is to marry Quirky’s unique online social product development network with the incredible reach of HSN’s interactive shopping experience,” said Jon Liebman, CEO of Brillstein Entertainment Partners. “We’re all excited about this partnership because it’s a great example of what happens when Internet and television meld.”

Yes, the ol’ Internet/TV mind meld!

All products appearing on HSN have gone through Quirky’s rigorous community evaluation process where inventors and critics alike take product ideas from concept to completion.

HSN is offering all would-be entrepreneurs the opportunity to submit their product ideas for consideration on hsn.com’s product submission page.

Here’s the official boilerplate on Quirky, for dummies like us:

Quirky, a social product development company founded in June 2009, makes invention accessible by partnering with creative people around the world to bring new products to life. Each week, Quirky engages its online community to collaborate in all aspects of product design and development – from ideation all the way to packaging. Quirky brings two brand new consumer products to market every week and shares the revenue with all of the individuals who were influential in bringing these products to life.

Former HSN Vendor Suzanne Somers To Appear On Current HSN Vendor Fran Drescher’s ‘Tawk’ Show Today

December 3, 2010

Actress-author-entrepreneur-ex-HSN vendor Suzanne Somers will be a guest on actress-HSN vendor Fran Drescher’s new daytime talk show today, Friday.

Maybe — not — Somers will dish about why she left HSN after more than a dozen years to join ShopNBC last year. The blonde was part of a wave of vendors who left, or were shown the door, when new HSN CEO Mindy Grossman came on board and started putting her stamp on the home shopping network.

Drescher’s program, which debuted on six Fox stations this week, is called “The Fran Drescher Tawk Show.” It airs on WNYW in New York City.

Drescher “joined the HSN family,” as the network likes to put it, this year with a skincare line, FranBrand. Somers is selling clothing, jewelry and skincare product on ShopNBC.

Lets's see, will Suzanne tell Fran why she left HSN?

Here is a description of today episode from the show’s website:

Fran Drescher’s not only naturally funny, but also a big believer in living a lifestyle that keeps you naturally sexy.

Today’s guests are all about staying lean, healthy and sensuous.

The iconic Suzanne Somers reveals how hormones and a positive attitude have kept her happy and youthful.

Then Fran has a rare in-depth interview with both Suzanne and husband/business partner Alan Hamel, who discuss their four-decade relationship and the challenges of keeping their business lives separate from their romantic lives.

Plus, Suzanne & Alan show Fran how to cook their favorite mushroom soup and the joy of growing their own vegetables.