Posts Tagged ‘Mindy Grossman’

HSN To Premiere Diamonds Unleashed By Kara Ross

November 20, 2015

Whenever anyone mentions diamonds, they get our attention. And HSN has. And we’re talking ethical diamonds here.

HSN is teaming up with jewelry designer Kara Ross to debut the Diamonds Unleashed collection, which supports women’s empowerment, on Dec. 13, the home shopping network said Thursday.

http://www.hsn.com/shop/diamonds-unleashed-by-kara-ross/13913?rid=4433&query=Kara%20Ross&isSuggested=False&

Diamonds Unleashed has partnered with She’s the First and Girls Who Code, and will donate all net profits from the sales of jewelry and products after expenses and has committed to make a minimum donation of $20,000 to each organization.

DIAMONDSUNLEASHED

HSN said in its press release:

The brand will be brought to life through a collection of jewelry and other products, a powerful network of influential ambassadors, and a platform of compelling content that is educational and engaging.

“I was so excited when Mindy approached me and wanted to be the first retailer to launch Diamonds Unleashed,” Ross said in a canned statement.

“The network of women that HSN provides access to is so exciting for a brand like ours as we are trying to create a shift in mindset,” Ross said. “I want to do for diamonds what Victoria’s Secret did for lingerie. When people think about diamonds they think about love and marriage. We’re redefining the act of engagement: that of engaging with your community and with the world at large.”

The jewelry will debut on HSN exclusively Dec. 13.

Ross designed the Diamonds Unleashed logo as a symbol of female empowerment.

It’s the “the shape of two diamonds, one elevating outside the other; those two shapes together form a heart,” the press release said. “The heart symbolizes the unifying philanthropic power of women helping women, to help create the next generation of strong female leaders.”

“Kara Ross is an amazingly talented designer and visionary woman who inspires everyone she meets,” HSN CEO Mindy Grossman said.

“We are thrilled to welcome the Diamonds Unleashed By Kara RossS collection to HSN’s fine jewelry portfolio. This transformational brand not only features beautiful product, but it represents a movement that empowers, educates and entertains women. Diamonds Unleashed aligns perfectly with HSN’s core values and I am honored to be one of its ambassadors.”

The collection for HSN features 28 pieces necklaces, rings, earrings and bracelets ranging in price from $129 to $1,399.

Each piece in the collection features genuine diamonds – diamonds that are ethically sourced from mines in Australia and Canada and manufactured to exceed minimum standards in: health, safety, the environment, human rights, quality management and financial capacity, as well as ethical and anti-corruption practices.

Cool.

For more information about Diamonds Unleashed and the support of these organizations, visit http://www.diamondsunleashed.org/charity-partners.

HSN Has Tough Third Quarter, With Sales Up 2 Percent To $590.6 Million

November 4, 2015

It was not happy time in St. Petersburg today when HSN released its third-quarter results.

The No. 2 home shopping network’s net sales rose only 2 percent, to $590.6 million, led by growth in electronics and culinary, “offset by home and jewelry,” the company said in a press release Wednesday.

Operating income was flat, at $56.2 million. Not good.

Digital sales increased 7 percent with penetration increasing 170 basis points to 40.5 percent. The return rate improved 80 basis points to 16.8 percent primarily due to changes in product mix. Units shipped increased 2 percent and average price point increased 1 percent.

Gross profit increased 1 percent to $204.5 million. Gross profit margin rate decreased 50 basis points to 34.6 percent primarily due to an increase in shipping promotions and changes in product mix. Operating expenses (excluding non-cash charges) increased 1 percent to $137.4 million.

HSN Inc. includes HSN, the home shopping channel that we just gave you the results for, and Cornerstone, a catalog company.

“We are not pleased with our third quarter results, which do not reflect the deliberate and strategic changes we have made over the past three years to strengthen our brands, create efficiencies and develop our talent to position ourselves for long-term growth,” HSN CEO Mindy Grossman said in a canned statement.

“While we believe that our opportunity to drive growth remains strong, certain product categories at HSN and specific brands within our Cornerstone portfolio weighed on our results in the quarter,” she said. “We have taken decisive actions to course correct and move the business forward while managing profitability.”

“Specifically, at HSN we have made changes in our merchandising organization to reignite our strategy of offering customers new and differentiated product in all categories,” Grossman said.

HSN INc.’s net sales, which include HSN and Cornerstone, increased 3 percent over the prior year to $864.9 million.

Cornerstone’s net sales increased 6 percent to $274.3 million, including 9 percent growth in digital sales.

“At Cornerstone, we are maximizing growth opportunities while rationalizing circulation and inventory to drive the business,” she said. “We continue to have strong digital performance at HSNi with digital sales growth of 8 percent and penetration of nearly 50 percent with mobile up 18 percent, now representing 37 percent of our total digital business.

“We remain confident that our fundamental strengths of customer focus and engagement, increasingly sophisticated digital platforms, and unique, immersive retail experiences and products position us well for long-term success in the evolving commerce landscape,” Grossman said.

HSN To Post Third-Quarter Results Nov. 4

October 15, 2015

HSN will report its third-quarter earnings Nov. 45 at 8 a.m. before the market opens, the home shopping network said Wednesday.

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.

There will 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 Nov. 18 by dialing 855-859-2056 or 404-537-3406, plus the pass code 57891125 and will also be hosted on the company’s website for a limited time.

HSN Supports UNICEF With ‘Star Wars’ Event Monday

September 23, 2015

HSN’s philanthropic arm is partnering with Lucasfilm to support UNICEF by broadcasting a “Star Wars” edition of “The Monday Night Show with Adam Freeman” this Monday.

During the two-hour primetime special Ashley Eckstein, the voice of “Star Wars” character Ahsoka Tano and founder of the Her Universe sci-fi merchandise brand for female fans, will present exclusive items of “Star Wars” apparel to raise funds for the U.S. Fund for UNICEF.

Eckstein will appear on-air alongside HSN Inc. CEO Mindy Grossman and Caryl M. Stern, the President and CEO of the U.S. Fund for UNICEF.

During the event HSN will donate 20 percent of the purchase price for every item featured and sold during the special to the U.S. Fund for UNICEF. In addition to apparel, the selection of “Star Wars” products will include items like a Star Wars Walkie Talkie, Stormtrooper watch and Darth Vader cuff links.

“I recently returned from my second field visit to see UNICEF’s programs for children firsthand and was inspired by their work to make a difference in the lives of children,” Grossman said. “I am so proud of HSNi Cares, our partners and customers who support UNICEF’s work to make an impact on the lives of children around the world.”

HSNi Cares has started a campaign that runs through Sept. 30 across television, catalogs, digital and social channels, raising funds and awareness in support of UNICEF.

All eight HSNi brands – HSN, Frontgate, Grandin Road, Ballard Designs, Garnet Hill, TravelSmith, Improvements and Chasing Fireflies – have come together to fulfill HSNi Cares goal of empowering women and supporting families in times of need globally, through interactive digital activations and customer donations across their channels.

HSN Net Sales Increase 3 Percent, To $572.3 Million, In 2Q

August 7, 2015

HSN’s net sales increased 3 percent, to $572.3 million in the second quarter, with strong growth in apparel, accessories and electronics offset by decreases in jewelry (Oh no!) and home, the shopping network reported Thursday.

The No. 2 home shopping channel hit Wall Street’s projections for earning per share, but not the forecasts for net revenue, according to the Associated Press.

http://www.foxbusiness.com/markets/2015/08/06/hsn-meets-2q-earnings-expectations-misses-revenue-forecasts/

That compares to the 4 percent jump, to $1.4 billion, in the second quarter that QVC posted on Wednesday.

HSN’s digital sales were up 11 percent with penetration increasing 310 basis points to 40.3 percent. The return rate improved 70 basis points to 18 percent primarily due to changes in product mix. Units shipped increased 2 percent and average price point increased 1 percent.

Gross profit increased 7 percent to $209.3 million. Gross margin increased 130 basis points to 36.6 percent primarily due to favorable vendor settlements and lower inventory-related costs including inbound freight and duties.

HSN recorded $3 million for certain costs associated with the planned closure of one of its distribution centers as part of its supply-chain optimization initiative.

Excluding non-cash charges and the costs associated with the planned closure of the distribution center, operating expenses as a percentage of net sales increased 70 basis points to 24.7 percent primarily due to increases in bad debt expense and employee-related costs.

Adjusted EBITDA increased 9 percent to $68.2 million. Operating income increased 3 percent to $53.5 million.

The consolidated results for HSN Inc., which includes the HSN network and the Cornerstone unit, were that net sales rose 4 percent over the prior year to $885.6 million.

“Our ongoing focus on content-driven commerce continues to position us well for long-term growth,” HSN Inc. CEO Mindy Grossman said in a canned statement. “HSNi’s results in the quarter reflected strong top and bottom line performance, particularly on our digital and mobile platforms. We continue to advance our strategies to remain a leader in boundaryless retail.”

HSN Insiders Brand, Grossman Sell Stock

July 4, 2015

Several HSN honchos cashed in some of their stock recently, and we’d be buying a lot of Carole Brodie jewelry if we had the money they got in those transactions.

First, our buddy HSN President Bill Brand last week sold 3,000 shares for $211,410, according to the Insider Trading Report. The stock had been trading at $70.47 a share.

http://www.insidertradingreport.org/hsn-inc-hsni-files-form-4-insider-selling-william-c-brand-sells-3000-shares/629138/

And HSN CEO Mindy Grossman last month sold 78,894 shares for a tidy $5,384,516. Those shares were trading at $68.25 when she sold them.

HSN Posts 10 Percent Sales Jump In First Quarter, To $600 million

May 7, 2015

It looks like HSN enjoyed a good first quarter, with net sales rising 10 percent to $600.5 million, the home shopping network reported Wednesday.

But, dang it, there was sales growth in all divisions except our favorite category, jewelry. Hope that doesn’t mean that HSN will start limiting its offerings of shiny baubles!

The results include sales associated with a direct-response television marketing campaign that started during the fourth quarter and contributed to 2 percent of this growth. We don’t know anything about this direct-response campaign.

HSN’s digital sales increased 18 percent with penetration increasing 280 basis points to 40.7 percent. The return rate improved 60 basis points to 17.7 percent, mostly due to changes in product mix. Units shipped increased 8 percent and average price point increased 2 percent.

Gross profit increased 9 percent to $207.5 million. Gross margin decreased 40 basis points to 34.6 percent primarily due to an increase in inventory reserves.

Operating expense leverage (excluding non-cash charges) improved 60 basis points to 23.5 percent.

HSN Inc.’s net sales, which include the shopping channel and the Cornerstone unit, were up 8 percent over the prior year to $841.9 million. Cornerstone’s net sales increased 4 percent to $241.4 million, including 5 percent growth in digital sales.

HSNi’s adjusted EBITDA increased 22 percent to $73.2 million, while its adjusted EBITDA increased 12 percent to $66.2 million. Cornerstone’s adjusted EBITDA increased $6.3 million to $7 million primarily due to strong performance at Garnet Hill. HSNi’s operating income increased 36 percent to $57 million.

Adjusted earnings per share increased 26 percent to 63 cents compared to 50 cents in the prior year.

“Our performance in the quarter reinforces the experiential power of our content and our ability to create engagement across our platforms,” HSN Inc. CEO Mindy Grossman said.

“HSNi had net sales growth of 8 percent and Adjusted EBITDA growth of 22 percent,” she said. “These results demonstrate the continued execution of our strategy to drive commerce by creating personal connections with our customers and offering unique and compelling products. Once again, accelerated performance in digital was a key factor in our strong growth momentum with digital up 12 percent, representing half of our total business. Mobile sales grew 31 percent for the quarter, with penetration at 18 percent of total sales.”

HSN, QVC Set First-Quarter Earnings Releases

April 18, 2015

It’s that time of the year, first-quarter earnings.

Last week HSN said that it would report first-quarter results May 6 at 8 a.m. Eastern Time before the market opens.

CEO Mindy Grossman and COO and CFO Judy Schmeling will hold a conference call at 9 a.m. Eastern Time to review these results.

There will 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 20 by dialing 855-859-2056 or 404-537-3406, plus the pass code 16764611 and will also be hosted on the company’s website for a limited time.

QVC’s parent, Liberty Interactive Corp., will do its first-quarter earnings call May 8 at 12:15 p.m.

The first-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 webcast.

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

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 CEO Mindy Grossman Chats On Bloomberg TV

November 26, 2014

For those curious to hear about HSN’s strategy from the horse’s mouth, take a peak at clips from CEO Mindy Grossman’s interview Wednesday on Bloomberg TV.

Grossman appeared on “In the Loop with Betty Liu” to discuss the key strategies on how retailers will be successful throughout the holiday season.

Here are some talking points from Grossman’s chat:

* Betting Big on Mobile
* Consumers Are Smart And They Understand Value
* Making The Shopping Experience Personal
* Entertainment and Celebrity Partnerships Drive Engagement

A replay of the video is here:

http://www.bloomberg.com/video/hsn-ceo-mindy-grossman-on-mobile-sales-holiday-shopping-hUT4y_DIRX~A8BGst4lGMQ.html