Archive for the ‘Rod Stewart’ Category

HSN Posts 6 Percent Increase In Third-Quarter Sales, Declines In Other Areas

November 3, 2010

Mindy Grossman

HSN saw a 6 percent gain in its net sales in the third quarter, with the home shopping channel hitting $493.7 millon in revenue, the company reported Wednesday.

But HSN saw 17 percent drop in operating income, to $30.7 million, and a decline in its gross profit margin.

For the first nine months, HSN’s net sales are up 6 percent, to $1.48 billion.

“At HSN, our strategy of utilizing content to create communities and drive commerce delivered a net sales increase of 6 percent and best customer growth of 9 percent, due primarily to strength in apparel, accessories and electronics as well as the addition of new brand partners and marketing initiatives,” HSN CEO Mindy Grossman said in a prepared statement. “We undertook key strategic initiatives this quarter that were focused on customer engagement by creating content-immersive experiences and leveraging our unique multichannel platform.”

HSN’s net sales increased 6 percent to $493.7 million. The sales growth was driven by strong performances in apparel, accessories and electronics. HSN.com sales increased 10 percent over the prior year and represented 30.9 percent of HSN’s net sales, up from 29.8 percent in the prior year. Units shipped and average price point increased 3 percent and 2 percent, respectively.

Gross profit increased 1 percent to $169.9 million. Gross profit margin declined 170 basis points to 34.4 percent primarily driven by increased product costs, retail price reductions and inventory reserve provisions. During the third quarter of 2009, HSN benefited from a reduction in inventories and the related reserves.

Operating expenses, excluding non-cash charges, increased 4 percent. The increase was primarily attributable to the costs associated with launching HSN2, HSN’s second television shopping channel that debuted in August, costs for brand and event marketing and accrued costs for a legal settlement.

Adjusted EBITDA decreased 8 percent to $43.1 million from $47.1 million. Operating income decreased 17 percent to $30.7 million compared to $37.1 million in the prior year due to the increase in operating expenses, including non-cash charges.

Adjusted EBITDA and operating income for HSNi, which includes the home shopping network and the company’s Cornerstone unit, included a $2.5 million sales provision for an upcoming voluntary product recall at one of the Cornerstone brands and costs related to a $2.5 million legal settlement.

During a conference call with analysts, Grossman said the legal settlement involved a patent case for an e-commerce sales system. She said HSN decided it was in the company’s best interest to just settle the case quickly and put it behind it.

Mary J. Blige debuted her fragrance on HSN

On the call, Grossman mentioned several of HSN’s third-quarter launches, including the exclusive debut of Mary J. Blige’s fragrance. She added that singer Rod Stewart’s live concert had generated sales of almost 30,000 CDs.

Jean queen Diane Gilman sold 200,000 pairs of jeans during the quarter, according to Grossman.

Consolidated HSNi results reflected a net sales grow of 10 percent to $708.4 million over the prior year. Cornerstone’s net sales increased 23 percent to $214.7 million with Internet sales representing 56.9 percent of its net sales.

HSNi’s Adjusted EBITDA was $49 million compared to $48.8 million in the prior year. These results were driven by a 10 percent increase in net sales, partially offset by a 170 basis point decrease in gross profit margin and a 7 percent increase in operating expenses, excluding non-cash charges.

Operating income decreased 9 percent to $32.8 million compared to $36.1 million in the prior year. Included in Adjusted EBITDA and operating income is a $2.5 million sales provision for an upcoming voluntary product recall at one of the Cornerstone brands and costs related to a $2.5 million legal settlement.

Adjusted earnings per share was 31 cents compared to 32 cents in the prior year. GAAP diluted EPS was 25 cents compared to 29 cents in the prior year. The combined impact of the product recall and legal settlement on Adjusted earnings per share and GAAP diluted EPS was $3 million, net of taxes, or five cents per diluted share.

“HSNi’s net sales growth of 10 percent reinforces the strength of the HSN and Cornerstone brands,” Grossman said in a satatement. “Our efforts to reach customers across multiple channels continue to be successful and contributed to an e-commerce net sales gain of 15 percent in the quarter.”

Advertisements

Raspy Rod Stewart Charms With The Old Standards On HSN Live

October 10, 2010

Rod rocked HSN Saturday night, photo by Mark Seligar, courtesy of J Records

Rod Stewart nervous to sing live on HSN?

Stewart, looking dapper right now in a pearl grey tux and ruffled white shirt, opened his concert on the home shopping network Saturday evening with “That Old Black Magic.” For once, the HSN set didn’t look cheesy. And there was a live studio audience.

HSN host Callie Northagen is MCing the event, and she walked up onstage to Stewart after his opening song to congratulate him.

“It’s nerve-wracking,” Stewart said, referring to entertaining the packed room.

What? This is a guy who said he once sang for an audience of 5.5 million in Rio. When Northagen told him that HSN reaches 95 million homes, Stewart said, “That will do me nicely.”

Rod and his wife are expecting a baby, photo by Mark Seligar, courtesy of J Records

Rod has joined the line of musical artists who have come to the home shopping venue to sell their CDs. Talent such as Sheryl Crow, Justin Bieber, Natalie Cole and Heart have all done live concerts on either HSN, QVC or ShopNBC.

In the case of Stewart, he is flogging the fifth, and final, installment of his “Great American Standards” CDs.This one is named “Fly Me To The Moon.” On her Facebook page, HSN host Colleen Lopez said that HSN sold 25,000 of the CD sets in one hour.

The CD-set that HSN is selling for $15 has an extra CD that’s exclusive to HSN.

To us, Stewart sounded raspier than ususal, but he still has “IT,” as someone wrote on our Facebook page.

We still love his accent, and he was charming and self-deprecating during his HSN appearance. At one point, with Northagen doing her usual fawning over any musical guest that appears on the network, she told Stewart his voice just gets better and better.

“I think I’ve gotten better over the years, like an old piece of cheese,” Stewart said, adding, “I should have said wine.”

He also explained that he got the idea to record old standard songs after he met a World War II veteran when he was having coffee in a shop in Beverly Hills. The vet had been a participant in the second wave of the invasion of Normandy. After talking to Stewart, the man was leaving and asked Stewart when he was going to do a record of classic American songs.

Stewart worked the charm thang, photo by Mark Seligar, courtesy of J Records

Stewart won an Emmy for Volume 3 of “Great American Standards,” and planned to end the series when he recorded Volume 4. But he decided to do Volume 5 “by popular demand.”

Celebrity chef and perennial ham Wolfgang Puck, who is doing shows on HSN Saturday night, was part of the audience and at one point got onstage with Stewart.

“I want to learn how to sing,” “Wolf” told Stewart, adding that he has purchased several copies of Stewart’s CD set, and planned to send some to his home country of Austria.

Then Stewart played our favorite standard: “You Can’t Take That Away From Me.” But our favorite version, still, is Fred Astaire singing that song to Ginger Rogers, we believe it was.

He also performed “Moon River,” which he said was his and his wive Penny’s favorite song. Penny, by the way, is four months pregnant, according to Stewart, who has eight kids.

Stewart will be doing a blues album, and then a country album, he told Northagen. That should be interesting.

All in all, we think HSN did a nice job with the Stewart concert.

HSN Shoppers, Rod Stewart Says He’s Eager To See You Saturday

October 7, 2010

Finally, the official announcement about Rod Stewart coming to HSN Saturday.

Here it is:

Rock and Roll Hall of Famer, and Grammy Award Winning International Superstar, Rod Stewart Performing Live on HSN Saturday, October 9 for World Launch of Latest Album ‘FLY ME TO THE MOON…THE GREAT AMERICAN SONGBOOK: VOLUME V’

HSN Customers Will Be Able to Pre-Order Latest Volume from Chart-Topping, Multi-Platinum, Grammy Award-Winning The Great American Songbook Series Before the Album’s Official Debut In Stores October 19th

ST. PETERSBURG, Fla., Oct 07, 2010 /PRNewswire via COMTEX News Network/ — International superstar, rock icon and J Records recording artist Rod Stewart will debut his latest album, Fly Me to The Moon…The Great American Songbook: Volume V, exclusively with interactive, multichannel retailer HSN when he performs live during a one-hour primetime special titled “Rod Stewart Live in Concert Presented by Sprint and HTC” this Saturday, October 9 at 8 p.m. (ET).

During the live special, the Rock and Roll Hall of Famer and Grammy(TM) Living Legend recipient will croon iconic songs from the Great American Songbook.

Rod looks pretty good for an old dude, doesn't he? I wouldn't kick him out of ... Photo by Mark Seligar, Courtesy of J Records

Rod Stewart adds, “I am absolutely in love with these incredible songs on my new album and cannot wait to get out there and perform them live. Looking forward to seeing you on Saturday.”

“Rod Stewart’s distinct vocals and tremendous abilities as an entertainer are unique, and HSN is honored to be able to introduce his latest album,” said Sandy Conrad, Senior Vice President of Merchandising for HSN. “His Great American Songbook series includes some of the greatest songs of our time and is sure to resonate with our millions of customers.”

Stewart fans will have the opportunity to pre-order a special two-disc Great American Songbook CD bundle which includes:

Fly Me to The Moon…The Great American Songbook: Volume V – The album was produced by Richard Perry and co-produced by longtime collaborator Clive Davis, along with Lauren Wild and Rod Stewart, and this 12-song CD features classics written by the great Cole Porter, Johnny Mercer, Henry Mancini, and many others, including “That Old Black Magic”, “Beyond The Sea”, “What A Difference A Day Makes”, “I’ve Got You Under My Skin”, “I Get A Kick Out Of You,” among others.

“The Great American Songbook: Live” – this special eight-track CD includes iconic songs from Songbook series Volumes I through IV, including favorites such as “They Can’t Take That Away From Me”, “Every Time We Say Goodbye”, “For All We Know,” and more.

The special two-disc bundle (item # 101-380) is currently available for pre-order at HSN, hsn.com and via HSN Mobile for $14.95. Stewart fans can go to http://www.hsn.com, keyword: Rod Stewart, to listen to excerpts from the CD, purchase the two-disc set, and even submit questions for Rod that may be answered live during the special on October 9.

ABOUT ROD STEWART

Rod Stewart has one of the greatest and most distinctive voices in rock history. With an estimated 250 million in album and single sales, Rod Stewart is indisputably one of the most successful musical performers of all time. FLY ME TO THE MOON…Volume V in stores October 19th (J Records), marks Rod Stewart’s return to his Grammy-award winning The Great American Songbook album series which has enjoyed unprecedented success as the biggest selling ongoing series of new music recordings in history, with over seventeen million copies worldwide.

Yes We Think He’s Sexy: Rod Stewart To Perform Live On HSN

October 4, 2010

Now here is an impressive “get” for HSN: Singer Rod Stewart will be performing live on the home shopping network next Saturday, Oct. 9.

The Stewart reveal came just a week after HSN announced a deal with another pop music talent, Mariah Carey.

HSN super host Colleen Lopez broke the Rod news on Facebook Sunday night.

“I’m over the moon!,” she wrote. “Rod Stewart will be live on HSN… 8:00 pm eastern!! Hope you can make it a date – you’ll see Rod perform live and have a chance to order his new album Fly Me To The Moon…The Great American Song Book Volume V! I ♥ Rod Stewart – any other fans out there?”

More later after we watch “Mad Men.”

…That cad Don Draper just can’t keep his pants zipped! Oh, back to Rod Stewart.

Here is what HSN is saying about its Stewart CD offering, at $15:

Rod Stewart Great American Songbook Vol. 5 Set of 2 CDs

Let Rod do what he does best, and that is to sing and make your heart aflutter. This spectacular CD bundle helps you remind yourself of your obsession with one of the most successful performers of all time. Rod Stewart’s Great American Songbook series has been a record-breaking success and this exclusive bundle follows right in the footsteps of its predecessors. Plus, you get the amazing Songbook live CD that will have you searching for concert tickets in no time.

What You Get

“Fly Me to the Moon Great American Songbook Volume 5” CD
“Great American Songbook Live” CD

Rod Stewart Great American Songbook Vol. 5 Track List

That Old Black Magic listen
Beyond the Sea
I’ve Got You Under My Skin listen
What a Difference a Day Makes
I Get a Kick Out of You listen
I’ve Got the World on a String listen
Love Me or Leave Me listen
My Foolish Heart listen
September in the Rain listen
Fly Me to the Moon listen
Sunny Side of the Street listen
Moon River listen

Great American Songbook Live Track List

They Can’t Take That Away From Me
Every Time We Say Goodbye
For All We Know
Moonglow
That Old Feeling
Blue Moon
What a Wonderful World
For Sentimental Reasons