Posts Tagged ‘Judy Schmeling’

HSN Appoints Chief Financial Officer

November 29, 2016

HSN Inc. has hired an Elizabeth Arden Inc. and Procter & Gamble veteran, Rod Little, as its chief financial officer.

He will join the company Jan. 3, reporting to CEO Mindy Grossman. Little succeeds Judy Schmeling, who was named president of HSNi operating division Cornerstone Brands in August, in addition to her continuing role as COO of HSN Inc.

Schmeling will work closely with Little “to ensure a seamless transition,” according to the press release Monday.

Little’a resume includes stints as CFO for Elizabeth Arden as well as a variety of leadership positions with Procter & Gamble.

“Rod is an accomplished finance executive with significant public company and operational expertise in the consumer products industry,” Grossman said in a canned statement.

“We are absolutely thrilled to have someone with his background and proven experience join the HSNi leadership team. Rod is a focused, strategic and creative thinker — known as a motivator and collaborator. He has the unique combination of being both bold and thoughtful in thinking and action, and I look forward to working with him as we deliver long-term growth for the company.”

Little will oversee all financial management, including accounting, financial planning and analysis, internal audit, treasury, tax, investor relations and media affiliate relations.

“HSNi is a leader in direct to consumer retail, and I look forward to joining the talented executive team across its HSN and Cornerstone operating segments,” Little said in his canned statement, kissing up to his new employer.

“These are both exciting and challenging times in the retail industry, which present real opportunities for a company like HSNi, with strength in digital and e-commerce and its focus on delivering innovative, differentiated retail experiences. It’s clear to me that HSNi is committed to harnessing the power of its unique platform to maximize performance and profitability.”

Most recently, Little served as executive vice president and CFO of Elizabeth Arden, Inc., “where he was instrumental in a turnaround that restored revenue growth and profitability, ultimately resulting in that public company’s sale to Revlon Inc.,” according to the press release.

Prior to that, Little served as CFO for Procter & Gamble’s multi-billion dollar global salon professional division.

“While at P&G, he was hand-picked by the CFO and President to oversee the turnaround of the multi-billion dollar global salon business,” the press release said.

“He played a broad role, leading a finance team of professionals in more than 20 countries where he had end-to-end responsibility for strategy development, business planning, financial reporting, and product development through to sales and cash collection.”

Little holds a B.S. in Management from the U.S. Air Force Academy in Colorado Springs, Colo., and an MBA from the University of Pittsburgh.

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HSN’s Sales Drop 3 Percent, To $557 Million, In Second Quarter

August 5, 2016

The No. 2 home shopping network, HSN, saw its net sales dip 3 percent, to $557.2 million, in the second quarter versus the prior year, the channel reported on Thursday.

Sales in electronics and beauty rose, offset by decreases in other product categories and in shipping revenues, the network said in a press release.

Roughly one-third of the decline in net sales was attributable to the conclusion of a direct-response television marketing campaign in the prior quarter.

Digital sales increased 5 percent with penetration increasing 330 basis points to 43.6 percent. The return rate improved 60 basis points to 17.4 percent; units shipped decreased 2 percent; and average price point decreased 2 percent.

Gross profit decreased 6 percent to $197.1 million. Gross profit rate decreased 120 basis points to 35.4 percent, primarily due to an increase in shipping promotions, higher inventory reserves and changes in product mix. The change in rate was also negatively impacted by favorable settlements of vendor claims in the prior year.

Operating expenses decreased 9 percent to $142 million, primarily due to decreases in employee-related costs and bad-debt expense and a $3 million charge in the prior year related to the planned closure of one of HSN’s distribution centers.

Excluding non-cash charges and the $3 million severance charge, operating expenses as a percentage of net sales were 23.5 percent compared to 24.7 percent in the prior year.

Operating income increased 3 percent to $55.1 million. Adjusted EBITDA decreased 3 percent to $66.3 million.

“HSNi’s results were impacted by the performance of certain merchandising categories at HSN as well as a weaker season and a greater promotional environment in the outdoor business at Cornerstone,” HSN Inc. CEO Mindy Grossman said in a statement.

Cornerstone Brands, the catalog company, along with the HSN TV network is part of HSN Inc.

“Recognizing that we are navigating in a challenging macro environment, we are focused on execution, combined with disciplined operating expense management and optimizing operational efficiencies,” Grossman said.

“At HSN, we are accelerating our targeted customer acquisition strategies and intensifying our efforts to drive product demand through proprietary products, new programming, and partnerships to improve our top-line performance,” she said.

“At Cornerstone, we are concentrating on the brands within the portfolio that have the greatest growth opportunities, including our expanded retail distribution channels. As a result of this strategic focus, we have entered into a letter of intent to sell our TravelSmith and Chasing Fireflies businesses.”

HSN also announced that Judy Schmeling, currently HSN’s chief operating officer and chief financial officer, has been appointed president of Cornerstone.

“In addition to her new role, she will continue to serve as COO of HSNi and will remain CFO during the transition until a permanent successor is appointed,” Grossman said.

“Judy has extensive strategic and financial expertise and over 20 years of experience at the company across all areas of the business. I have great confidence that she is the right leader to drive the Cornerstone business.”

Sales for HSN Inc., both HSN and Cornerstone, decreased 4 percent to $854.3 million. Cornerstone’s net sales decreased 5 percent to $297.1 million.

HSN CEO Mindy Grossman Received $4.9 Million In Comp Last Year

April 17, 2016

We’ve been so busy that we missed the fact that earlier this month HSN filed its proxy statement with the SEC, which includes the compensation that execs at the No. 2 home shopping network received last year.

http://www.hsni.com/secfiling.cfm?filingID=1434729-16-27&CIK=1434729

In the case of CEO Mindy Grossman, her comp was $4.9 million, just a hair less than in 2014. Her salary was $1.2 million the same as last year, and she also received stock awards and options.

COO and CFO Judy Schmeling took in $1.8 million in executive compensation in 2015, down from $2.1 million the prior year.

And Bill Brand, HSN president and chief marketing officer for HSN Inc., received executive compensation of $1.6 million, down from $1.9 million in 2014.

By way of comparison, under his new contract Mike George, president and CEO of QVC Inc., this year will be getting a base salary of $1.25 million — but that’s just his base.

HSN Chief Grossman’s Comp Last Year Was $4.9 Million

April 10, 2015

It’s the time of the year where public companies filed their proxy statements with the Securities and Exchange Commission, and we peons find out how much money America’s corporate elite made last year.

In the case of HSN CEO Mindy Grossman, it’s less than 2013, but nothing that we would sniff at. Grossman’s comp was $4.9 million in 2014, compared with $13.8 million in 2013.

Mindy Grossman

Mindy Grossman

http://www.hsni.com/secfiling.cfm?filingid=1434729-15-6&CIK=1434729

As the Tampa Bay Business Journal explained, the gap in Grossman’s comp is deceiving and really “a paper distinction,” since she received all stock awards in 2013 but they will vest over the coming years.

http://www.bizjournals.com/tampabay/news/2015/04/06/hsns-top-exec-sees-pay-package-shrink-in-2014.html

Last year Grossman’s salary was $1.2 million, with a $1.2 million incentive bonus and the rest stock options.

HSN To Report Third-Quarter Results Nov. 4

October 22, 2014

HSN Inc. will release its third-quarter results Nov. 4 at 8 a.m., before the market opens, the home shopping network said Tuesday.

CEO Mindy Grossman and Chief Operating Officer Judy Schmeling will hold a conference call at 9 a.m. to review these 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 call can be accessed until Nov. 18 y dialing 855-859-2056 or 404-537-3406, plus the pass code 17192651 and will also be hosted on the company’s website for a limited time.

HSN Lays Big Egg With Flat Third-Quarter Sales

November 7, 2013

HSN had a pretty dour third quarter, with its sales virtually flat at $538.6 million compared to $537.4 million in the the prior year. No wonder the company is laying off employees at its headquarters in St. Pete.

That compares to 5 percent sales growth, to $1.3 billion, that QVC reported earlier this week for the third quarter.

Mindy Grossman

Mindy Grossman

We didn’t get a chance to listen to HSN’s third-quarter call with analysts Wednesday, but here is a link to the transcript from Seeking Alpha.

http://seekingalpha.com/article/1812002-hsn-management-discusses-q3-2013-results-earnings-call-transcript

HSN COO Judy Schmeling had this to say.

“We had sales growth in home design, household and beauty,” she told analysts. “Sales were down in jewelry, apparel and accessories and culinary. As we stated on the last earnings call, we are in a process of repositioning our jewelry and culinary businesses. Apparel, in general, continues to be challenged similar to what is occurring in the broader retail market.”

Gross profit at the No. 2 home shopping network dipped 3 percent to $186.2 million. Gross margin decreased 110 basis points to 34.6 percent “primarily due to the product mix shift and increased promotional activity,” the company said in a press release.

Operating expenses (excluding non-cash charges) decreased 4 percent to $129.1 million primarily due to the timing of certain marketing programs and bad debt expenses.

Adjusted EBITDA increased 1 percent to $57.1 million compared to $56.8 million in the prior year primarily due to the decrease in operating expenses, partially offset by the decline in gross profit. Operating income increased 1 percent to $47.6 million compared to $47 million in the prior year.

Digital sales increased 7 percent, with penetration increasing 220 basis points to 36.8 percent, the company reported.

Net sales at HSN Inc., which includes the home shopping network and the Cornerstone unit, rose 3 percent over the prior-year period to $798.9 million. Cornerstone’s net sales increased 8 percent to $260.3 million, including 10 percent growth in digital sales.

“HSNi has built a powerful and diverse portfolio of brands and products enabling us to capitalize on consumer trends, manage marketplace dynamics and position the company for long-term success,” HSN CEO Mindy Grossman said in a canned statement.

“During the third quarter, this strategy resulted in record customer levels at HSNi, an increase in digital penetration of 230 basis points—including strong growth in mobile, which now represents 12% of our total business—and Adjusted EPS growth of 19%.”

QVC And HSN To Post Third-Quarter Results In November

October 17, 2013

QVC’s parent, Liberty Interactive Corp., and HSN Wednesday announced that they will report their third-quarter earnings within a day of each other in November.

Liberty Interactive President and Chief Executive Officer Greg Maffei will host a conference call to discuss results for the third quarter Nov. 5 at 5:15 p.m.

During the call, Maffei will discuss the company’s financial performance and outlook and may discuss the proposed creation of the Liberty Digital Commerce Group tracking stock, as well as other forward-looking matters.

Please call Premiere Conferencing at (888) 437-9357 or (719) 325-2449 at least 10 minutes prior to the call.

Replays of the conference call can be accessed through 5:15 p.m. Nov. 12 by dialing (888) 203-1112 or (719) 457-0820 plus the passcode 2267905.

In addition, the third-quarter earnings conference call will be broadcast live via the Internet.

All interested participants should visit the Liberty Interactive website at http://www.libertyinteractive.com/events to register for the web cast. Links to the press release and replays of the call will also be available on the website. The conference call and related materials will be archived on the website for one year.

HSN, in turn, will release its third-quarter Nov. 6 at 8 a.m. before the market opens.

CEO Mindy Grossman and Judy Schmeling, Chief Operating Officer 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 Wednesday, November 20, 2013 by dialing 855-859-2056 or 404-537-3406, plus the pass code 76016146 and will also be hosted on the company’s website for a limited time.

Mindy Goes To Paris: HSN Wins World Retail Award

October 10, 2013

HSN is tooting its own horn again, but with good reason. The No. 2 home shopping network just won the “Customer Loyalty Initiative of the Year” category at the 2013 World Retail Awards in Paris.

HSN CEO Mindy Grossman got to go to France to accept the award on the company’s behalf.

She posted a comment on Facebook and a photo of her and HSN CFO Judy Schmeling at the awards.

Mindy Grossman and Judy Schmeling

Mindy Grossman and Judy Schmeling

“In Paris – HSN wins the World retail Award for Customer Loyalty initiative!!! The best in the globe! So proud of everyone at HSN!!! We love our customers ! So exciting !” Grossman said.

HSN was recognized for building and maintaining customer loyalty through its entertainment partnership with Disney on the movie “Oz The Great and Powerful” and the ongoing evolution of HSN’s Arcade to fully integrate gamification into its e-commerce platform.

“At the core of our success is our ability to understand our customer and develop a deep and lasting relationship with her,” out buddy Bill Brand, HSN Inc.’s chief marketing and business development officer, said in a canned statement.

By the way, she is you, it’s us, it’s HSN’s customer.

“We are honored to have been recognized for this aspect of our business,” Brand said. “Our strategy for building and retaining customer loyalty centers on creating an emotional connection to our brand. We provide a personalized experience that engages, informs and entertains our customers.”

The World Retail Awards are a global platform that recognizes and promotes retail excellence. Retailers from around the world and all retail sectors compete to win these highly coveted awards, covering key areas of retail skills and operations.

This marked the first year for the “Customer Loyalty Initiative of the Year” category, which recognizes the importance of loyalty in helping to ensure retail success.

The judges looked at how a new or existing approach to customer loyalty over the last 12 months has delivered outstanding results that can be measured through sales, retention figures and customer research.

Judy Schmeling Promoted To COO, CFO Of HSN Inc.

May 16, 2013

HSN No. 2 honcho Judy Schmeling got a big promotion Wednesday.

Schmeling, who has served as executive vice president and chief financial officer since 2001, was named chief operating officer and CFO of HSN Inc., effective immediately. HSN Inc. includes the home shopping network and the Cornerstone unit.

In her new role, Schmeling will be responsible for supply-chain operations and customer-care functions in addition to providing ongoing leadership for finance and information technology. These four areas are now company-wide centers of excellence spanning HSN and the Cornerstone portfolio of home and lifestyle brands.

Judy Schmeling

Judy Schmeling

“Judy is a world-class leader and the consummate professional, and she has been my partner in transforming HSNi and driving growth across all our businesses,” HSN CEO Mindy Grossman said.

“Under Judy’s leadership, we have strengthened our competitive position, achieved significant top- and bottom-line growth and increased shareholder value. She is superbly qualified to oversee our new operational centers of excellence, which are part of our continued drive to integrate key activities across all of our brands, maximize efficiency and deliver an immersive, seamless end-to-end customer experience.”

As HSN’s COO and CFO, Schmeling’s job will be to ensure efficient, cost-effective support in information technology, logistics and supply chain operations, customer care and facilities for HSN, in addition to managing all finance-related activities. She will continue to be based at the company’s headquarters in St. Petersburg, Fla.

“With this new structure, HSNi is better positioned than ever to capitalize on our strong brands and reshape the landscape of commerce,” Schmeling said in her canned statement. “I’m excited about the opportunity to fully leverage technology, supply chain operations and customer service across all of HSNi.”

Schmeling joined the company in 1994 as director of investor relations and treasury. She was promoted to vice president of strategic planning and analysis in 1998, to senior vice president of finance in 1999, to executive vice president and CFO in 2001, and to CFO of HSN Inc. when the company went public in 2008.

A native Floridian and a graduate of Florida State University, Schmeling is married and has three sons. She serves on the board for Constellation Brands Inc. and the advisory board of FM Global.

HSN also promoted two other senior finance executives, Michael Attinella and Patrick Vonderhaar, both reporting to Schmeling.

Attinella was appointed CFO of HSN and chief accounting officer of HSNi. He joined HSN in 2001 and most recently served as senior vice president, chief accounting officer and corporate controller of HSNi.

Vonderhaar was elevated from vice president and corporate controller to CFO for Cornerstone Brands.

In addition, Rob Solomon has been appointed executive vice president, customer care & operations administration, HSNi, and Bob Monti as executive vice president, Supply Chain & logistics, HSNi, both reporting to Schmeling.

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.