Posts Tagged ‘first quarter earnings’

HSN’s Sales Rise Just 2 Percent, To $550.1 Million In First Quarter

May 3, 2013

HSN’s sales saw a 2 percent uptick in the first quarter, to $550.1 million, versus the year-ago period, the home shopping network reported Thursday.

Sales grew in apparel & accessories, beauty and home design, but that was offset by lower sales in jewelry and electronics, HSN said. The average price point decreased 9 percent, the units shipped increased 12 percent and the return rate increased 70 basis points to 20 percent primarily due to changes in product mix, according to HSN.

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Digital sales increased 4 percent with penetration increasing 80 basis points to 35.7 percent. 

However, digital sales “were tempered by the launch of the digital site redesign across all HSN digital platforms that occurred early in the quarter,” the company said.

In other words, we hated the new website!

“In addition, last year’s results included one extra day versus the current year because of leap year,” HSN said.

Gross profit increased 2 percent to $192.4 million and gross margin increased 20 basis points to 35 percent. The margin was favorably impacted by the product mix shift, partially offset by an increase in shipping and handling promotions.

Adjusted EBITDA increased 3 percent to $58.9 million compared to $57.3 million in the prior year. Operating income increased 2 percent to $48.6 million compared to $47.5 million in the prior year.

Sales for HSN Inc., which includes both the network HSN and the Cornerstone unit, increased 7 percent, to $772.7 million.

“I’m pleased with HSNi’s first quarter performance and the progress we made in creating a powerful and differentiated retail experience,” HSN CEO Mindy Grossman said in a canned statement.

“Across HSNi, we continue to reach and engage customers through content-rich, immersive experiences on multiple digital platforms,” she said.

“These efforts contributed to sales growth of 5 percent and digital sales growth of 10 percent. We also had EPS (earnings per share) growth of 24 percent and returned value to shareholders through our share repurchase and cash dividend programs that included purchasing approximately 1.2 million shares during the quarter.”

HSN To Report First-Quarter Results May 2

April 12, 2013

HSN Inc. will release its first-quarter results on May 2 at 8 a.m. before the market opens, the home shopping channel said Thursday.

Chief Executive Officer Mindy Grossman and Judy Schmeling, executive vice president and chief financial officer, will hold a conference call at 9 a.m. to review the results.

Those interested in participating in the conference call should dial 877-307-0246 or 224-357-2394 at least five minutes prior to the call.

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 May 16 by dialing 800-585-8367 or 404-537-3406, plus the pass code 31601678 and will also be hosted on the company’s website for a limited time.

Why No Mention, Or Questions About, The Louis Dell’Olio Brouhaha On QVC Parent’s First-Quarter Call?

May 7, 2010

QVC president and CEO Mike George

Well, we just listened to the Liberty Media first-quarter earnings call, since it is the parent of QVC. We were hoping — silly gooses that we are — that the battle over the demise, and resurrection, of Louis Dell’Olio’s Linea line would be mentioned.

Why? Even though Dell’Olio’s QVC fans were livid that the home shopping channel was going to dump his line, their reaction demonstrated how dedicated and passionate customers are about the brand.

Let’s face it, if some other people heard that a clothing line they liked was being discontinued on QVC, they might not be happy. But they would not mount a campaign — with letters and phone calls to Liberty chairman John Malone, Liberty CEO Greg Maffei and QVC president Mike George — to lobby for that desiigner to be kept on.

Dell’Olio’s ladies fought for him, and as a result not only will his clothing line remain on the home shopping channel, he is even expanding with a jewelry line.

We guess these hot shot Wall Street analysts don’t read The Homeshoppingista, so they were oblivious to the brouhaha and didn’t ask about it. And maybe Malone, Maffei and George are still pissed off about those Linea Ladies calls, even though they capitulated.

But we think the flap presented a PR opportunity. Liberty and QVC could have spun the story, noting how passionate the home shopping network’s customers are, and how QVC actualy listens to its loyal customer base.

Any way, there was nothing that fresh and exciting on the call. Earlier today, Friday, Liberty reported that domestic QVC saw a 10 percent jump in revenue, to $1.2 billion, in the first quarter. QVC also saw its adjusted OIBDA increase 19 percent to $261 million compared to the year-ago quarter.

The network’s product mix continued to shift from the jewelry and apparel to accessories and home.

In the first three months both QVC and competitor HSN saw roughly the same sales growth. On Tuesday, HSN reported that its first-quarter sales had increased, up 9 percent, to $518.9 million.

On the analysts’ call, George said that QVC’s HD channel is now in 32 million homes. The number of new customers was up 15 percent, with revenue from new customers increasing 26 percent.

QVC Posts 10 Percent Revenue Gain In First Quarter To $1.2 Billion

May 7, 2010

Having a good first quarter like its rival HSN, domestic QVC saw a 10 percent jump in revenue, to $1.2 billion, its parent Liberty Media Corp. reported Friday.

“QVC again delivered impressive results and drove further margin expansion,” Liberty Media president Greg Maffei said in the first-quarter earnings press release.

In addition to seeking 10 percent growth in domestic revenue, QVC saw its adjusted OIBDA increase 19 percent to $261 million compared to the year-ago quarter.

“QVC is emerging from the downturn showing strong, consistent sales growth and increased adjusted OIBDA margins,” QVC president and CEO Mike George said in the news release.

The network’s product mix continued to shift from the jewelry and apparel to accessories and home. The average selling price of products increased modestly from $51.07 to $51.16 while total units sold increased 9 percent from 22.5 million to 24.5 million.

On Tuesday, HSN also reported that its first-quarter sales had increased, up 9 percent, to $518.9 million. The revenue gains at the two major home shopping networks both seem to confirm that customers are now opening their wallets again to purchase goods from the two home shopping outlets who in the past two years or so have seen revenue drops. Small sales gains returned in the fourth quarter last year.

QVC’s consolidated revenue, which includes its international home shopping networks, was up 11 percent, to $1.8 billion, and adjusted OIBDA margins increased 15 percent to $366 million.

At U.S. QVC returns as a percent of gross product revenue increased slightly from 18 percent to 18.6 percent. The domestic adjusted OIBDA margin increased 159 basis points to 23 percent for the quarter primarily due to a higher initial product margin percentage in the apparel, accessories and jewelry product areas.

QVC.com sales as a percentage of domestic sales grew to 32 percent in the first quarter from 29 percent a year ago, to a total of $371 million. Additionally, international eCommerce sales increased 21 percent to $105 million.

“Using our buying power, we continue to provide a compelling customer value proposition while maintaining our margin integrity,” George said. “Our global eCommerce business grew 23% in the quarter, well ahead of the overall internet sales index as we continue to take share from both brick and mortar and eCommerce competitors. We were delighted with the success of several new brands we premiered in Q1, including Kim Kardashian fragrances, Jillian Michaels fitness, Vita Mix blenders and Dyson vacuums.”

HSN Posts Strong First Quarter, And Mary J. Blige Fragrance Gets Big Play In Women’s Wear Daily

May 6, 2010

HSN CEO Mindy Grossman

It’s late, it’s been a busy day, and we finally listened to HSN’s first-quarter earnings call. Since it’s 10:40 p.m. — and we’re dying to watch the “24” episode we missed Monday because we were covering “The Real Housewives of New Jersey” party — we’ll keep this very short.

We got a phone call, and now it’s 11:25 p.m. So this is going to be really, really short. And we’ll have to delay watching “24” on Hulu until later in the week.

As we wrote earlier in the day, HSN had a good first quarter, with a 9 percent increase in sales, to $518.9 million. During the call with analysts Wednesday, HSN CEO Mindy Grossman said a couple of new things, beyond all that blah-blah-blah about having differentiated products, products exclusive to the network, etc.

Grossman mentioned the news that we just wrote about, that of singer Mary J. Blige launching a perfume called My Life, in partnership with Carol’s Daughter, on HSN. Blige is an investor in Carol’s Daughter, which makes hair and skin products.

The story made the front page of Women’s Wear Daily, according to Grossman, and that’s a pretty big deal, nice press, for the home shopping network.

“Blige and Carol’s Daughter are breaking the bonds of traditional prestige fragrance retailing by choosing to launch My Life solely on HSN on July 31,” WWD wrote.

During the first-quarter conference call Grossman said that HSN HD is now in 13 million homes, and will be in 25 million by the end of the year. She noted that at some point the HD and standard definition channels will be merged.

There were several successful apparel launches in the first quarter, including that of Badgley Mischka and Twiggy London, with Twiggy due back in June.

There will be eight apparel-line premieres this summer.

And on the hard-core cable side, Grossman said that half of HSN’s carriage deals expire this year, and that several renewals have already been struck with distributors.

“So far, so good,” Grossman said. “It’s progressing…”

Time for bed.

QVC Parent Liberty Media Announces First Quarter Earnings Release

April 8, 2010

John Malone’s Liberty Media Corp., parent of QVC, will announce its first quarter earnings May 7 at noon, officials said Thursday.

Liberty Media president and CEO Greg Maffei will host the call and will discuss the company’s financial performance.

The first quarter earnings conference call will be broadcast live via the Internet. All interested participants should visit the Liberty Media Web site to register for the Web cast.

Links to the press release and replays of the call will also be available on the Liberty Media Web site. The conference call and related materials will be archived on the Web site for one year.