Posts Tagged ‘MArk Bozek’

Evine Live’s Samuel Benham Likes His Tequila

August 28, 2015

Evine Live jewelry vendor Samuel Benham, fellow tequila lover, you’re a man after our heart.

Last night on the home shopping network host Heather Hall was talking about Benham, a courtly man who designs lovely artisan-crafted jewelry. Heather Hall mentioned to turquoise king Paul Deasy that she had gone out to dinner with Benham at the Vegas jewelry show, and he ordered a bottle of expensive tequila. And he apparently enjoyed it.

We wouldn’t have guessed that Benham liked snaffing down pricey tequila, so he rose a notch in our eyes. It’s our liquor of choice.

And speaking of Evine Live, on the network’s second-quarter call yesterday with analysts CEO Mark Bozek said that the new cookware lines by Paula Deen and chef Todd English are selling extremely well.

As you might remember, Deen and English are cast-offs from other home shopping networks. QVC dropped Deen like a hot potato during the controversy over racist remarks she made years ago. And HSN and English parted ways after he showed up in the tabloids inebriated and pawing willing women in public places.

Deen, by the way, is rumored to be one of the contestants on the new season of “Dancing With The Stars.”

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Evine Live Posts 3 Percent Sales Gain, To $161 Million, In Second Quarter

August 26, 2015

Evine Live Inc. saw its net sales rise 3 percent year over year, to $161.1 million in the second quarter, the company reported Wednesday.

Those results compared to the 4 percent jump, to $1.4 billion, in the second quarter that QVC posted; and HSN’s net sales increased 3 percent, to $572.3 million.

Beauty was the fastest-growing product category at 23 percent, fashion and accessories delivered strong growth of 17 percent and jewelry and watches grew by 1 percent; gains were partially offset by declines of 12 percent in home and consumer electronics.

EVINELive_LOGO_RGB

Online net sales as a percentage of total net sales increased 240 basis points to 46 percent.

Mobile remains the fastest-growing platform with net sales of $31.3 million, a 41 percent increase year-over-year.

Average-purchase frequency rose to 4.5 units per customer, a 10 percent increase.

Adjusted EBITDA was $2.5 million.

“We are pleased with our second-quarter financial results during this transition year, which were driven by better-than-expected sales. Over the quarter, we executed a more balanced approach to our airtime mix with continued investment in our new emerging brands, coupled with an ongoing commitment to our established anchor brands. Our top-line growth was driven by strong performance in the categories of beauty and fashion and accessories,” CEO Mark Bozek said in a canned statement.

“As we addressed a number of the challenges we faced in the first quarter, we are seeing momentum in our continued efforts to reposition Evine Live by introducing more merchandising variety with new emerging brands that are generating revenue across our multiple platforms, especially mobile,” Bozek said. “With key members of our senior leadership team now in place, we are confident that we have the ability to execute our strategic plan and initiatives to create long-term value for our shareholders.”

http://evine.mwnewsroom.com/getattachment/1309dbc7-5457-4880-b0b4-bf7ad4aaf661/Second-Quarter-2015-Investor-Presentation

Gross profit decreased 2.6 percent to $58.9 million. Gross profit as a percentage of sales decreased 210 basis points to 36.5 percent, primarily related to the following decreases:

* 190 basis points of gross margin percentage decrease was attributable to reduced margins in Jewelry & Watches and Home (excluding textiles) due to merchandising mix changes and a lower than optimal average selling price (ASP).

* 30 basis points of gross margin percentage decrease was attributable to continued discounting of excess textile inventory.

* 25 basis points of gross margin percentage decrease was attributable to reduced shipping and handling margin.

Adjusted EBITDA decreased 54 percent to $2.5 million primarily due to continued gross margin pressure from merchandising mix changes and increased variable costs from lower than optimal blended ASP in jewelry and watches, home, and the continued discounting in textiles.

Operating loss was $2.2 million versus $3.7 million in the second quarter of last year.

“We are committed to delivering measurable transparency to the market as we execute our plan to drive sustainable shareholder value,” added Tim Peterman, Chief Financial Officer.

“We are focused on strengthening our balance sheet. We are upgrading our technology and customer care systems at our distribution center in Bowling Green and are currently on track to phase in our new warehouse management system through the first quarter of 2016. Most importantly, we are focused on improving our alignment between merchandising, average selling price, margin and inventory, while carefully evaluating our operating costs.”

Evine Live Fall Premieres Include Little Big Town’s Karen Fairchild

August 4, 2015

Like the entertainment networks, Evine Live has a lot of premieres this fall.

The No. 3 home shopping network put out a press release Monday about what it has coming in the autumn, including a collection from Karen Fairchild of country music’s Little Big Town and the Nancy O’Dell Collection from “Entertainment Tonight” co-host Nancy O’Dell, as we previously reported.

Country music's Karen Fairchild is coming to Evine Live

Country music’s Karen Fairchild is coming to Evine Live

The full roster it outlined here:

http://evine.mwnewsroom.com/press-releases/evine-live-announces-fall-lineup-and-brand-premieres-nasdaq-evlv-1210248

“By effectively balancing new brands alongside our well performing emerging brands and our established brands, we are effectively executing upon our strategy to create a growing stable of high-margin, proprietary products that we expect will help deliver sustainable growth and profitability,” Evine Live CEO Mark Bozek said in a canned statement.

“Real Housewives of Beverly Hills” star Lisa Vanderpump will return to the network with not only fashion jewelry, but with her Estate Home Collection.

HGTV and DIY star and “Rehab Addict” Nicole Curtis will offer her newest line, Nicole Curtis Home, and the chef and host of “Bizarre Foods” on Travel Channel Andrew Zimmern will be on-board.

On the jewelry front, our addiction, Evine Live will have Perla Donna Italian jewelry, BB Becker silver jewelry, the Margo Manhattan silver collection and John Wind fashion baubles.

A number of recently launched brands will return in the fall, namely Beekman 1802, Consult Beaute, Todd English Collection, Paula Dean’s Kitchen, Indigo Thread Co., NV by Nick Verreos, Pamela McCoy Collection, Evine Live “Deadliest Catch” Collection, BoKU Superfoods, FrescoWare by Scotto and DEVINE Treats.

Evine Live To Post Second-Quarter Earnings Aug. 26

July 31, 2015

Evine Live Inc. will release its second-quarter results Aug. 26 at 8 a.m. before the market opens.

CEO Mark Bozek and Chief Financial Officer Tim Peterman will hold a conference call at 8:30 a.m. to review these results.

Those interested in participating in the conference call should dial 1-866-515-2912 at least five minutes prior to the call. The passcode is: 69028282.

There will be a simultaneous audio webcast available at the following link: http://edge.media-server.com/m/p/qrfuutuw. A replay of the conference call will also be hosted on the company’s website for a limited time.

‘ET’ Host Nancy O’Dell Coming To Evine Live With Clothing Line

May 28, 2015

“Entertainment Tonight” anchor Nancy Odell is the celeb du jour who is bringing a clothing line to a home shopping network: She’s coming to Evine Live, Women’s Wear Daily reports.

http://wwd.com/retail-news/direct-internet-catalogue/evine-nancy-odell-fashion-line-10136384/

We don’t buy what Evine Live CEO Mark Bozek said in the interview, namely, “Gone are the days when you can just be famous and go on television to sell works. Now you have to be passionate about the product. The customer can see through that if you’re not. Nancy has a great sense of style and is passionate about design and fashion. That’s really what we look for when we launch a personality-based brand.”

What we are hearing from our readers is that they want quality fashions with a consistent fit at a reasonable price. They seem very wary of garments sold by celebrities.

The collection will debut in September, and like every star, O’Dell claims she is intimately involved in designing the pieces. She told WWD that she plans to wear the clothes on “ET” and that viewers often ask her where she gets her wardrobe.

The price points on her Evine Live line range from $49 to $99.

Evine Live’s First-Quarter Sales Dip 1 Percent, To $158 Million

May 21, 2015

It wasn’t exactly a stellar first quarter for Evine Live.

The No. 3 home shopping network posted fiscal first-quarter earnings Wednesday, reporting that net sales were $158 million, down 1 percent compared with the same period last year.

http://hsprod.investis.com/site/irwizard/vvtv/ir.jsp?page=sec_item_new&ipage=10289530&DSEQ=&SEQ=&SQDESC=

That’s not a good showing compared to Evine Live’s rivals. QVC saw a 3 percent sales gain, to $1.3 billion in the first quarter, while HSN was up 10 percent, to $600.5 million.

Mark Bozek

Mark Bozek

And quite frankly, CEO Mark Bozek had a lot of ‘splaining to do, as Ricky Ricardo used to say in “I Love Lucy.” Bozek doth protest too much, as far as we’re concerned.

This is straight from Evine Live’s press release, from Bozek:

“While we hoped to deliver top line growth of at least 3 percent, several factors including a lower than ideal average selling price in watches, discounting excess textiles inventory on-air and lower shipping revenues worked against us. These factors also contributed to the decrease in our adjusted EBITDA to $2 million.

On the other hand, we’ve launched over a dozen proprietary brands since the beginning of the year, and our new brands are being well received and are driving higher sales per minute than our legacy product.

In addition, our Fashion Day at the end of April was an extraordinary success, and contributed to year-over-year segment growth of 18 percent in the quarter. With time, we expect new, higher margin brands to grow to represent an increasing share of the total, which should lift the top and bottom lines overall. We have a lot of exciting growth initiatives underway and I look forward to sharing more detail about them at our Investor Day on May 28.

Penny Burnett

Penny Burnett

This was another productive quarter for our team. After an extensive recruiting process, we completed our executive transition plan during the first quarter when we hired our new Chief Financial Officer, Tim Peterman, and our new Chief Merchandising Officer, Penny Burnett.

Tim and Penny are great additions to our team and I couldn’t be more excited to be working with them. Furthermore, just last week we celebrated the official opening of our expanded distribution facility and call center in Bowling Green, Ky. There is still work to do, but when complete it will allow us to deliver faster shipping times and improved customer service.

It has been just under a year since I took over as CEO of a company that needed a cohesive strategic vision. Our success hinges on our commitment to be nimble and continuously test new product launches, merchandising mix and programming platforms.

While new initiatives take time, the progress we are making is clearly reflected in several encouraging first-quarter records – including total customers, average purchase frequency and units shipped. While the balance of 2015 will continue to be a transition period, the heavy lifting has been done and the benefit of changes we have made should be visible in our bottom line by year end.”

Excuses, excuses.

As Bozek said, fashion was Evine Live’s fastest-growing segment, with sales up 18 percent.

Jewelry posted sales growth of 8 percent, followed by beauty with 7 percent gains.

Watches declined 15 percent on less primetime air time allocation. Less air time? Really?

Total active customers on a trailing 12 month basis were 1.4 million, a 2 percent increase.

There were 2.2 million net shipped units, a 17 percent increase.

Average purchase frequency rose to 4.1 units per customer, a 15 jump.

Mobile remained the fastest-growing platform, with sales of $28 million, a 26 percent gain.

Peterman did some brown-nosing for his new boss, as well.

“I’m a long time student and fan of the home shopping industry, and actually worked with Mark at IAC,” he said.

“It is great to see that the Evine Live platform is catching up with the times and being positioned as a relevant competitor in the digital commerce space. Our peers are posting robust margins and we expect that we should be able to as well. Achieving sustainable, positive earnings per share growth is one of my primary goals. And while posting margin improvement is particularly challenging for smaller retail companies given the recent shipping pressures of higher costs and lower margins, we are committed to working more efficiently as an organization to deliver our overall profitability goals.”

Peterman continued, “We have a solid liquidity position that includes $18 million of cash, including restricted cash, and $30 million of availability on our revolving credit facility as of the end of the first quarter. We are focused on improving our existing distribution footprint with thoughtful changes, including a possible second channel similar to our peers.

“Furthermore, by year end, we expect to improve our inventory life cycle by establishing an outlet center close to our Bowling Green distribution center, which will provide an avenue to move merchandise that no longer meets our minimum performance levels for on-air allocation and avoids the situation we experienced this quarter in discounting excess textiles. As a reminder, given our $298 million Federal NOL position, our ability to generate free cash flow will accelerate once we deliver taxable income.”

The company also offered an outlook for the rest of the year, saying that it expects the cumulative effect of its changes to have an impact by the fourth quarter.

“In the meantime, for the next two quarters sales are anticipated to be relatively flat with prior year results, followed by sales growth in the fourth quarter,” the press release said. “The company expects to turn the corner on generating positive net income on a sustainable quarterly basis in the fourth quarter.

Past and Present Evine Live CEOs Received $2 Million-Plus Last Year

May 9, 2015

There were some really sweet comp packages handed out last year at Evine Live, to the new managers that took over and the old team that was ousted, according to company filings with federal regulators.

Former CEO Keith Stewart, whose regime was overthrown by dissident shareholders, received executive compensation of $2.8 million last year. Stewart walked away with severance of $2.5 million paid in fiscal 2014.

He was terminated effective June 21, according to the proxy statement that Evine Live filed with the Securities and Exchange Commission.

http://hsprod.investis.com/site/irwizard/vvtv/ir.jsp?page=sec_item_new&ipage=10262692&DSEQ=1&SEQ=&SQDESC=SECTION_BODY&exp=&subsid=41

Stewart’s comp was more than the man who led the revolt against him, Mark Bozek. He got a cool $2 million last year, which included a signing bonus of $125,000 and annual incentive compensation of $382,000 earned under his employment contract.

Bozek also collected $115,000 in relocation expenses.

William McGrath was executive vice president and CFO until he was canned in March. He saw his comp drop to $462,000 from $992,000 in 2013.

Two other executives who were terminated last year walked off with more than $1 million each in executive comp. Former Chief Operating Officer Carol Steinberg got $1.4 million, up from $1.3 million in 2013. And ex-Chief Merchandising Officer Annette Repasch received $1.1 million, versus $921,000 in 2013.

Evine Live To Host ‘Invitation-Only’ Investor Day

April 21, 2015

Evine Live Inc. sent out a press release Tuesday extending an invitation to the investment community to its first Investor Day. However, if you read down in the announcement you learned that attendance was “by invitation only.”

Say what? So does that mean the whole “investment community” can come, or just a select few? BTW, so far we have not been invited.

The dog-and-pony show will be held at the company’s studios in Eden Prairie, Minn., May 28.

The release says:

CEO Mark Bozek will introduce his new leadership team, each of whom will discuss their backgrounds and value creation strategies which the Company believes will drive long-term growth and sustainable profitability. During the presentations, observations may be made regarding the Company’s financial performance and recent developments.

Attendance at the Investor Day in person is limited and by invitation only.

For further inquiries, please contact Beth McCartan at bmccartan@evine.com.

The presentations will be webcast simultaneously and available at http://evine.mwnewsroom.com beginning at roughly 11:30 am EST.

Evine Live Appoints New Chief Merchandising Officer

April 17, 2015

After cleaning house of executives from the prior regime, Evine Live has brought in its own choice as chief merchandising officer, Penny Burnett.

Burnett, who will report to CEO Mark Bozek, starts April 20.

“Burnett brings more than 20 years of merchandising experience to Evine Live including traditional retail experience as well as merchandising and brand development consulting,” according to the press release.

“I believe Penny’s strong track record building businesses across broad categories of product positions her well to lead Evine Live’s efforts to expand our roster of proprietary brands and diversify our product mix,” Bozek said in a canned statement. “Penny’s retail and wholesale experience and her proven ability to drive both top line sales and profit should further our growth strategy.”

Burnett served as vice president of merchandising for Global Brands Group, part of the Fung Group, for five years where she directly managed the merchandising strategy for new acquisitions and oversaw merchandising for the kids’ and young men’s businesses.

Prior to that, she was the vice president of sales and merchandising for Guggenheim Partners on the Lionel brand and held key merchandising roles at both Macy’s and Target Corporation. She will be relocating to the company’s headquarters in Minneapolis.

“I could not be more thrilled to join the Evine Live family. As a merchant, it’s exciting to join a company distinguished for its vibrant approach to a wide range of products,” Burnett said in her canned statement. “The future of Evine Live is very exciting and I’m looking forward to joining a top-notch leadership team in such a dynamic organization poised for growth.”

‘Orange County Housewives’ Hubby Headed To Evine Live

April 10, 2015

Now not only the women from the various iterations of Bravo’s “Real Housewives” franchises are flocking to home shopping networks to hawk products, the men are as well.

Dr. Terry Dubrow, the plastic surgeon who often appeared with his wife, actress Heather Dubrow, on “The Real Housewives of Orange County” now has a gig on Evine Live.

Dubrow, who also has his own show on E! called “Botched,” will be on Evine Live selling Consult Beaute, a line of anti-aging skin products. The missus will be appearing live with him for the premiere of the stuff on April 18 and 19.

http://finance.yahoo.com/news/dr-terry-dubrow-renowned-plastic-140000308.html;_ylt=A0LEVixT1SZVsKkAVTsnnIlQ

“For close to 20 years, Dr. Dubrow has built a reputation as one of Southern California’s most respected plastic surgeons, offering a personalized approach to each of his patients. We’re thrilled to introduce Dr. Dubrow’s exclusive line of products to our customers,” Evine Live CEO Mark Bozek said in a canned statement. “We’re excited to add Consult Beaute to EVINE Live’s growing list of exclusive and proprietary brands.”

Dr. Terry Dubrow and actress wife Heather

Dr. Terry Dubrow and actress wife Heather

The doc had his own two cents, as well.

“I’m looking forward to sharing Consult Beaute with Evine Live’s customers,” Dubrow said. “While plastic surgery isn’t for everyone, every woman deserves to feel beautiful. I’m an advocate for minimal treatment that helps produce natural-looking results. I believe Consult Beaute’s innovative approach to anti-aging will help enhance the natural beauty and look of vitality customers are in search of without surgery.”

Dubrow helped develop Consult Beaute as an alternative for women like us, who are too scared and broke to go under the knife.

The press release says:

While most anti-aging products only offer topical creams, Consult Beaute goes one step further. The brand’s internal, external approach to beauty utilizes a two part system that works by combining age-fighting topical products with ingestible supplements that help support the health of skin, hair and nails.

With a practice based in Newport Beach, he made his television debut on Fox’s “The Swan,” and later went on to appear on Bravo’s “The Real Housewives of Orange County.”

In 2014 he began starring in E!’s reality series “Botched” repairing plastic surgeries gone wrong. In addition to his television career, Dr. Dubrow is a board-certified plastic surgeon and former chief resident of plastic surgery at UCLA’s School of Medicine.