Posts Tagged ‘Evine’

Evine’s Sales Flat In First Quarter, At $156.5 Million

June 3, 2018

Evine’s net sales were essentially flat in the first quarter, $156.5 million compared to $156.3 million a year ago, but it did cut its losses, the company reported last week.

The Minnesota-based home shopping network saw a loss of $3 million, a 7 percent improvement over last year’s $3.2 million.

“I am very encouraged by our first quarter operating results,” Evine CEO Bob Rosenblatt said in a canned statement. “It was a very productive quarter for us and the results reflect the hard work and focus of many over the past two years towards our turnaround efforts.”

“Strategically, 2018 is about profitable revenue growth, product development and increasing our customer base,” he said. “We can achieve our goals if we maintain our focus and deliver on our stated strategy to position Evine as a leading omni-channel purveyor of proprietary, exclusive, and under-discovered goods. This, when combined with our fully built out direct-to-consumer and increasingly valuable video commerce platform, will deliver increased value for our shareholders, customers and vendors.”

The first-quarter highlights were:

• The top performing category in the quarter was beauty and wellness, which increased 17.3 percent year-over-year, reflecting strong results from our subscription business. Home and consumer electronics also had strong year-over-year growth of 5.5 percent with strength in our tabletop category.

• Digital net sales as a percentage of total net sales increased 240 basis points to 53 percent, reflecting our continued focus on making the customer experience as frictionless as possible across all devices.

• The return rate for the quarter was 18.9 percent; relatively flat year-over-year and within our expectations based on our merchandise mix.

• Gross profit dollars were flat year-over-year at about $56.3 million. Excluding contract termination costs of $753,000, gross profit dollars would have been approximately $57 million, or 1.3 percent better than last year.

• Operating expenses increased 2.3 percent or $1.3 million year-over-year to $58.2 million, including a $518,000 increase for executive transition expenses. The remaining increase was due to investments in our organization to support growth. Additionally, year-over-year increases in program distribution costs associated with high definition carriage were mostly offset by savings related to favorable negotiations for other carriage.

The network did some executive housecleaning, as well. Diana Purcel was appointed executive vice president and CFO, replacing Tim Peterman, formally chief operating officer/CFO. Peterman’s COO duties have been absorbed by the executive team.

And Mark Locks was appointed executive vice president of product sourcing and business development.

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Beekman Boys Bow Out Of Evine

June 3, 2018

The Beekman Boys, the Madison Avenue refugees who created a goat-farm empire, are leaving Evine. Their last show is Tuesday.

The couple, Josh Kilmer-Purcell and Brent Ridge, were popular vendors on No. 3 home shopping channel, selling bar soap made from goat milk and then expanding their line to include laundry soap and facial products.

Evine CEO Bob Rosenblatt announced the news during a first-quarter call with Wall Street analysts last week.

“Beekman launched on EVINE in 2015 and the EVINE team in collaboration with the Beekman 1802 brand brought the story of the brand’s founders to life for our viewers,” according to a transcript of the call from Seeking Alpha.

https://seekingalpha.com/article/4178102-evine-live-inc-evlv-ceo-bob-rosenblatt-q1-2018-results-earnings-call-transcript?part=single

“The brand grew on EVINE from a niche bath and body line to a full lifestyle brand,” he said. “We’re saddened to report that Beekman will be having their last show on EVINE in June, however, the whole EVINE team couldn’t be prouder of watching this brand grow over the last few years.”

We always appreciated them because they got laid off from their advertising jobs, like we got laid off from a newspaper during the Great Recession. But they chose a unique path, becoming goat farmers in Upstate New York.

Their Evine fans are lamenting their departures on Facebook.

Some were pissed.

“How about a sign that says ‘STOP,’ as in we are going to stop selling our products on Evine,” a not-so-hapy camper posted on the Beekman Boys FB page. “I received a notice from Evine today that there will be some final sell of your products and then they will no longer be selling Beekman 1802. I think we deserve an explanation as “neighbors” because right now, as people receive these notices, I think you will have a lot of angry neighbors. :-(”

The Boys were coy.

“Next week will be our last visit to Evine,” they responded. “We are unable to say more at the current time, but will provide more info as soon as we can.”

A little birdie told us that the Beekman Boys were previously on HSN, and that they may be heading back there.

Evine Sets Up Outposts In LA, Big Apple

May 1, 2018

Lordy, Evine is expanding beyond the confines of frosty Minnesota, setting up studio and office space in Los Angeles and New York City.

The No. 3 home shopping network said Monday that it had leased a studio and business offices in the Wilshire-Beverly Hills area of LA, as well as a Manhattan office on 54th Street and Sixth Avenue.

Why? “To strengthen new businesses, brand partners, talent and industry awareness,” according to the press release.

In other words, celebs and other vendors don’t like hoofin’ it to the Midwest.

“Having a New York and Los Angeles presence changes the access and perception of the video commerce business,” said Tommy Hilfiger, the fashion designer and Evine investor and adviser, in a canned statement. “The world of online and video shopping has changed to the point where the consumer is shopping via social media, online and via video on all devices including TV, which is still 50 percent of the business. It is a very exciting time for the company.”

And listen here from Mark Locks, Evine executive vice president of product development.

“Los Angeles and New York both have a vibrant, made-in-the-USA business culture that gets stronger with each season,” he said. “The new office spaces will allow us to be more nimble and quickly leverage opportunities within the marketplace. It provides Celebrities who have brands and large social presences a location that is very easy to get to.”

In addition to the office spaces, Evine said it will debut a new studio in Los Angeles with programming beginning this summer.

“The digital retailer is well-known for bringing many parts of the world to life through remote broadcasts including the show, ‘Sweet Home Savannah’ shot within celebrity chef Paula Deen’s house located in Savannah, Georgia,” the press release said. “Most recently, Evine shot a four-day, live remote in Ireland to celebrate Waterford Crystal’s 11th anniversary, embarked on the Invicta and Friends cruise to the Bahamas and took its customers on a tour of the Waterford Crystal ball which drops on New Year’s Eve in New York City.”

As usual, CEO Bob Rosenblatt chimed in.

“Our strategic expansion into these opportunity-rich markets are part of our overall plan to drive innovation and differentiation within the business,” he said.

“We believe a more prominent footprint in these markets will bring major opportunities to our network with brands that are doing business in these cities and that having our studio in their backyard, will make it easier for them to appear on our shows,” said our bud, Evine Chief Marketing Officer Nicole Ostoya. “To support our brands, we are planning a talent search in the Los Angeles market that will kickoff June 13 through June 15.”

Jewelry Designer Dweck At QVC, Wendi Russo Exits Evine

April 3, 2018

Catching up:

We’ve long admired upscale jewelry designer Stephen Dweck’s gorgeous chunky gem pieces, which we would longingly gaze at in showcases in stores like Neiman Marcus.

Now Dweck is doing a jewelry line for QVC. The pieces are not cheap, but they are less pricey than his Neiman stuff. One silver chain was already on wait list.

http://www.qvc.com/catalog/search.html?keyword=Stephen+Dweck

We’re told the Evine host Wendi Ross has left the network. From what we can tell from her Facebook page, she is coaching young women how to complete in beauty pageants now.

She had been at the home shopping network since June 2004, a pretty long run of 14 years.

Evine Hires EVP Of Product Development

March 23, 2018

Evine has appointed Mark Locks as executive vice president of product sourcing and business development, the home shopping network said this week.

Locks, who will report Evine CEO Bob Rosenblatt, is tasked with strengthening the company’s product-development pipeline.

Locks joins Evine from Tiger J LLC, which manufactures fashion-forward clothing and accessories for consumers both domestically and internationally, where he served as president of global operations.

He is credited with developing celebrity brands in the video-retail business including Serena Williams, Giuliana Rancic, Lisa Rinna, Vanessa Williams, Nicole Richie and Queen Latifah,

“Mark is bringing his considerable talent, experience and Rolodex to Evine where he will oversee enhanced product development operations for new business opportunities,” Rosenblatt said in a canned statement. “We have watched him develop strong brands and identities over the years, and we are thrilled to have him join the Evine family.”

Evine Partners with Cosmo to Explore Sex ‘After Dark’ Friday

March 22, 2018

Sex and shopping: What more could a chick want?

Evine has ventured into territory few home shopping channels have gone with its weekend late-night “Evine After Dark” shows, selling items such as lubricants and vibrators and naughty lingerie.

And tomorrow, Friday, it will televise a special two-hour episode where it is partnering with Cosmopolitan magazine to unite “in empowering women (and men) to explore their intimacy and relationships in a safe and comfortable environment,” according to the press release.

Showtime is Friday, March 23, at 1 a.m. ET.

Faye Brennan, Cosmopolitan’s deputy editor and sex and relationships expert, will be Friday night’s special guest. (What’s a nice Irish girl doing with that gig?)

“We promised to deliver a groundbreaking second season of ‘Evine After Dark,’ and are thrilled to combine forces with Cosmopolitan—the number one women’s magazine,” Evine Chief Marketing Officer Nicole Ostoya said in a canned statement.

“Adding Cosmo’s Faye Brennan to the lineup will bring a new, fiercely entertaining component to the show as she lights up the room with inspiring messages and provides viewers with tangible ways to increase their confidence in the boudoir.”

The March 23 episode of “Evine After Dark” will be themed “As Seen in Cosmo” and will feature a variety of products from the magazine.

In addition, Brennan will share content from the April issue of Cosmo, including results from their reader quiz, “Secrets of Forever Couples” and “Turn Up the Heat” bedroom tips.

Brennan will also give viewers a peek at Cosmo’s May editorial, including 56 of Cosmo’s best sex secrets and the magazine’s official 2018 dating dictionary. The editor will also do a Facebook Live presentation before the show at 11 p.m. ET March 22.

“As deputy editor of Cosmo, I have one goal—empowering women to own who they are and be who they want to be,” Brennan said in her statement. “It’s absolutely thrilling to have the opportunity to partner with Evine and ‘After Dark’ to connect directly with women through live television. Being aligned with such a positive and empowering production is truly exhilarating and I’m so excited to get to know the Evine viewers and share this journey with them.”

In addition to exclusive content, viewers and online shoppers will be offered a special subscription offer to Cosmopolitan.

Evine’s Net Sales Flat in Fourth Quarter

March 15, 2018

Evine’s net sales in the fourth quarter last year were basically flat, up about 1 percent, to $192.7 million year over year, the home shopping network reported Wednesday.

The channel did see a great improvement over its net income, which skyrocketed 214 percent, albeit to just $6.4 million.

And the muckety-mucks at the No. 3 shopping channel felt they had a lot of ‘splaining to do.

Here’s CEO Bob Rosenblatt’s statement:

I’m pleased to report our fourth-quarter results demonstrate the continued progress we’re making in improving profitability and strengthening our financial position.

We reached many financial milestones in the fourth quarter and the fiscal year, including the highest fourth-quarter net income in the history of the company, the highest fourth quarter Adjusted EBITDA since 2010, and the first fiscal year of positive net income since 2007.

I’m proud of the many accomplishments we made this year and also realize that we have the opportunity for continued progress, especially on revenue growth, as we leverage our undervalued interactive digital commerce assets and expertise to scale our enterprise and continue to improve our profitability and free cash flow.

Our fourth-quarter sales growth of 1.2 percent was below our original estimates as we decided to focus on execution and profitability. As such, during the quarter we chose to minimize aggressive promotions and pulled back on marketing spend, that might have garnered higher revenues in the short term but would not have been additive to profitability or to our overall brand and company strategy.

We had many successes during the fourth quarter and fiscal year by broadening our merchandising assortment vis-a-vis brand launches and extensions. In addition to that, there still remains ample opportunity and ‘white space’ to continue to strengthen and add to all merchandise categories.

We have already made significant progress doing this during the fall 2017 season and this progress is already beginning to bear fruit in 2018. The most accretive component of this to our contribution margin is in our proprietary and exclusive brand product areas. To that end, the progress to continue to minimize friction throughout the customer experience across all platforms along with continuing to broaden our assortment in proprietary and exclusive brand product areas will be the two key focuses in fiscal 2018.

Strategically, 2018 is the third year of our turnaround plan. This year is about profitable revenue growth, product development and customer growth. Reestablishing profitability and strengthening the balance sheet these past two years has not been easy but I’m proud of the strong foundation we’ve built and believe it positions us well for profitable top line growth in 2018 and beyond.

In the fourth quarter the top-performing category was home and consumer electronics, which increased 10 percent year-over-year. The beauty category grew slightly year-over-year while fashion, jewelry and watches both decreased slightly year-over-year.

The return rate for the quarter was 19 percent, an increase of 60 basis points year-over-year.

For the full 2017, net income dropped about 3 percent, to $648.2 million.
The top category during the year was home and consumer electronics, which rose 3 percent year-over-year compared to a 22 percent decrease in 2016. Fashion and beauty had slight decreases and jewelry and watches were down 6 percent.
The return rate for the year was 19 percent, an improvement of 40 basis points year-over-year.

Evine Debuts ‘Inventor Showdown’

March 1, 2018

QVC has its inventor competition. HSN has its inventor competition. And now, not to be undone, Evine has an invention competitor.

Evine will premiere “Inventor Showdown,” a reality selling show featuring inventors from across the country who will compete for the prize of “top inventor,” this Sunday,

Inventors discovered by Akos “The Solutionist” Jankura will vie for viewers’ votes during the five-week series.

“’Inventor Showdown’ is a reality show like no other where we put the fate of these inventors in the hands of our customers,” Evine CEO Bob Rosenblatt said in a canned statement. “We know our viewers are looking for new and unique products that have a compelling story behind them. ‘Inventor Showdown’ is the perfect format for our customers to discover new product while using their voting power to help a budding inventor get their big break.”

The series will feature four new contestants per episode with one winner from each moving on to participate in the finale show. The inventors, hand-picked by Jankura, will have the opportunity to showcase their products and share with viewers their personal stories behind the items.

Fans can vote for their favorite by purchasing their products while the show is airing, online or on their mobile devices. The four qualifying rounds will air Sunday mornings starting next Sunday with the finale on Sunday, April 8, where one winner will be crowned.

The winner of “Inventor Showdown” will be invited back to Evine and receive future programming to sell their items.

“I have had the privilege to work with some amazing inventors throughout my career, but I am particularly thrilled with the lineup of individuals we have assembled for this series,” Jankura said in his canned statement. “They each bring something unique and innovative to Evine, and I am excited to see them compete live on a television stage. ‘Inventor Showdown’ will showcase hard-to-find items with problem-solving and easy-to-use features. I can’t wait to see who emerges as the victor!”

Evine To Report Fourth-Quarter Results March 14

February 26, 2018

Evine will release its fourth quarter and 2017 results March 14 before the market opens at 6 a.m., the No. 3 home shopping network said last week.

CEO Bob Rosenblatt and Tim Peterman, chief operating officer and chief financial officer, and Michael Porter, vice president of finance and investor relations, will host a conference call later that morning at 8:30 a.m. to review the results.

Those interested in participating in the conference call should dial 1-877-407-9039 or 1-201-689-8470 (international) at least five minutes prior to the call.

There will be a simultaneous audio webcast available at https://event.on24.com/wcc/r/1552340/070743253029E2B1A6683BAC8C5A988C.

A replay of the conference call will be available on the company’s website for a limited time.

Evine To Broadcast Live From Cruise

February 21, 2018

We give Evine an “A” for trying. The No. 3 home shopping channel once again broadcast live from the Tucson Gem Show this year, and it will b doing the same on its Invicta Voyage to the Bahamas.

On Tuesday Evine said it will be doing its longest live remote broadcast to date for the second annual “Invicta & Friends Ocean Voyage.” The six-day live remote will kick-off at the Invicta Marine Pavilion in Miami Feb. 21 and then set sail on the Carnival Victory to the Bahamas Feb. 23 to 26.

Cameras will go behind the scenes of a live remote, and viewers see brands such as Invicta, Gem Treasures, Effy and Gems en Vogue.

“We are thrilled to set sail on the ‘Invicta & Friends Ocean Voyage’ for a second year in a row, and excited to expand the experience to some of our fan-favorite jewelry brands as well,” Evine CEO Bob Rosenblatt said in a canned statement.

“Evine continues to deliver entertaining and unique shopping experiences, whether from our home base studios or exciting locations like Ireland, Mexico, New York, Savannah, or the Bahamas. This event, our largest live broadcast remote to date, won’t disappoint. The party will no doubt extend from the cruise ship all the way to our viewers at home.”

The “Invicta Jewelry Ocean Voyage” itinerary starts at the Marine Pavilion in Miami Feb. 21 to 22 before setting sail on the Carnival Victory cruise ship Feb. 23 to 26.

The event will feature 70 never-before-seen designs from Invicta, including the Evine exclusive premiere of graffiti artist, Erni Vales and his Sugar Skull Collection, in addition to former NFL football player, Jason Taylor who will be aboard representing his Jason Taylor for Invicta line.

The cruise will also feature the debut of more than 350 jewelry designs including the premiere of Blue Diamond from Chuck Clemency, the re-launch of Effy’s men’s jewelry collection, limited-edition items from Gems en Vogue and more.