Posts Tagged ‘QVC’

QVC Posts 3% Sales Increase In Third Quarter

November 10, 2017

Holy crow! QVC had a 3 percent revenue increase in the third quarter, to $1.4 billion, its parent company Liberty Interactive Corp. reported Thursday. This is after several quarters when sales were down.

The dominant domestic home shopping networks also posted a 14 percent rise in its operating income.

“QVC had an excellent quarter, growing constant currency revenue and adjusted OIBDA in every market,” Liberty President and CEO Greg Maffei said in a statement. “We made progress on the acquisition of HSN and expect to close in the fourth quarter.”

QVC saw year-over-year gains in the apparel, beauty, accessories and electronics categories in the third quarter.

But the home category was essentially flat and jewelry declined, according to Liberty.

The average selling price declined 4 percent in the quarter, “primarily driven by product mix within the electronics category, as several successful items sold in the quarter carry lower price points than items sold in the prior year,” Liberty said in its press release.

“We are very pleased with our strong results,” QVC President and CEO Mike George said in a statement.

“Our U.S. business returned to growth and our international segment continued its solid momentum,” he said. “Our performance demonstrates our ability to execute our strategic initiatives to improve product freshness and discovery, leverage our commerce content across platforms, increase customer engagement and attract new customers. We remain excited about the pending transaction to acquire HSNi and the formation of the new QVC Group.”

In the quarter QVC’s number of new customers increased 7 percent.

“As noted last quarter, the U.S. business experienced a systems outage late in the second quarter of 2017, which resulted in an estimated 1 percent shift in net revenue to the third quarter,” Liberty said.

QVC Denies Shopping Ban For Trashing Hosts

November 2, 2017

QVC says that a Facebook post, which warned customers not to criticize show hosts or risk being banned from shopping on the network for 30 days, is phony.

We blogged about the post earlier this week, and a number of our readers who looked at a screen shot of the warning said it wasn’t kosher.

https://homeshoppingista.wordpress.com/2017/11/01/qvc-bans-shoppers-who-criticize-hosts/

We reached out to QVC and got a prompt response from a company spokeswoman.

“The ‘QVC Customer Care’ Facebook Page is not owned or moderated by QVC, does not reflect QVC’s social media policies, and was created without QVC’s knowledge or permission,” the spokeswoman said in an email. “The unauthorized use of QVC’s trademarks, name or brand is not permitted, and QVC is currently working directly with Facebook to remedy this situation.”

We thought that such a policy would be nuts, but a number of readers said it was a good idea and that the public shouldn’t be allowed to cruelly trash show hosts on QVC’s social media.

QVC Bans Shoppers Who Criticize Hosts

November 1, 2017

QVC is apparently cracking down on people who make negative comments about its hosts on Facebook. Seriously? Grow a thicker skin!

And what is the punishment? You can’t shop at the network for 30 days. Brilliant. Your sales have been down for several quarters, so you’re going to stop customers from shopping for a month?

One of our readers tipped us off to this crap, sending us a screenshot from FB where QVC laid down the law to a poster who was critical of Shawn Killinger, who we consider one of the No. 1 home shopping network’s most annoying talents.

“sk (Shawn Killinger)should wear that hat all the time. Such a improvement over her hair!’ was the offending post on QVC’s FB page.

Wow, such a horrendous comment! Oh brother.

Here’s what QVC customer service rep Genevieve had to say in response:

Thank you for reaching out Barbara. We encourage our customers to interact on Facebook and review products, but we do not permit commentary on QVC’s staff or hosts.

Abusive posts will be removed from our timeline and subsequent violations will result in your QVC customer accounting being suspended for 30 days, meaning you’ll be unable to make purchases for 30 days.

If you need any further assistance, please let us know.

That comment has apparently been removed, but some quick thinkers got screen shots of it.

Martha Stewart Serves Up $100 Turkey On QVC

October 31, 2017

QVC originally stood for Quality, Value and Convenience. As for “quality,” not so much these days.

We loved, and agreed with the reaction, to a recent TSV that QVC offered from domestic diva (and Nutley, N.J., native) Martha Stewart. What a bargain, just $99.95 for a 4.25-pound turkey, herb butter and two two-pound size dishes.

Are you kidding us? What are those buyers smoking over at QVC? And as some customers posted on Facebook, is Martha smoking weed with her co-host, Snoop Dog?

Here is the description of this pricey, golden bird:

Have you ever dreamed of having your Thanksgiving meal prepared by Martha Stewart? This ready-to-cook holiday feast makes your culinary dreams a reality. From the juicy, succulent turkey breast with rich herb butter for topping, to the heaping helpings of delectable side dishes, it has everything you need to make next family dinner as easy—and as unforgettably delicious—as possible. From Martha Stewart.

• Includes 4.25-lb turkey breast, 2.4-oz herb compound butter, and two 2-lb side dishes

• Mashed Potatoes: made with peeled russet potatoes, whole milk, cream cheese, real butter, and heavy cream

• Mac & Cheese: made with sharp white cheddar, gruyere, fontina, and Parmigiano cheese, butter, milk, and cayenne pepper; blended with elbow macaroni noodles; topped with melted butter, panko bread crumbs, gruyere, sharp white cheddar, and Parmigiano cheeses

• Creamy Spinach Casserole: made with chopped spinach, butter, whole milk, and sour cream; topped with panko bread crumbs, butter, and gruyere cheese

• Cherry Stuffing: made with chunks of crusty white bread crumbs, blended with butter, chicken broth, chopped onions and celery, herbs, and dried cherries.

QVC also had a recent TSV — a 1-carat five-stone diamond band 14K ring by Affinity — that ranged in price from $1,000 to $1,400.

But QVC isn’t the only home shopping net that’s been approaching the stratosphere in terms of prices. Either QVC or HSN (we didn’t see, someone mentioned it on Facebook) was hawking a $200 cake.

Over at Evine, MacKenzie-Childs is offering a large rolling moose for $500. We love the moose, and the other handcrafted wares that MacKenzie-Childs has, but the prices are out of this world. How about $122 for four kitchen utensils?

Guess we have to stick to Home Goods.

No Call For HSN Third-Quarter Results

October 20, 2017

HSN will release its third-quarter earnings Nov. 8, the network said this week.

“Due to the pending acquisition of HSNi by Liberty Interactive Corp.QVC Group, HSNi will not hold a conference call to review these results,” the press release said.

Public companies typically hold conference calls with Wall Street analysts when they announce their quarterly earnings. This is the first time we recall a company not doing one.

Proxy Battle Looming At Evine

October 20, 2017

A not very pleasant scenario is being played out at Evine, with the son of the founder of QVC looking to sweep in and take over the Minnesota-based No. 3 home shopping network.

The Minneapolis Star Tribune reported that Marvin Segel and Jim Morrison, co-founders of a New York company called StarShop, have approached Evine’s management about taking control of the business.

http://m.startribune.com/former-evine-live-executive-and-partners-trying-to-take-over-the-home-shopping-business/451478463/

The pair of raiders claim that Evine and old home-shopping methods are outdated.

“To jazz it up, Segel and Morrison, who is StarShop’s CEO, want to tap into social media influencers such as YouTubers with millions of followers in order to grow Evine’s audience and reach new consumers,” the Star Tribune said. “They also want to add a Spanish-language TV shopping channel as well as related Spanish content online and offer an enhanced experience on mobile.”

Hello, all the home shopping networks are big users of social media and have been creative in their use of mobile, which is helping to drive their skyrocketing digital sales.

The story says that Segel, the one who is the son of QVC’s founder, and Morrison tried to work with Evine by becoming minority shareholders and getting a seat on its board. Now, then want to “buy the operating assets of Evine for a 30 to 40 percent premium of its total enterprise value of between $140 to $175 million,” according to the Star Tribune.

“Segel and Morrison said it would leave Evine intact as a corporation so shareholders can reap the tax benefits of more than $100 million in net operating losses while pursuing other businesses,” the story says.

Evine has had many corporate battles before. In 2012, when it was still ShopHQ, dissident shareholders took control and named Mark Bozek as CEO. He was the genius who renamed the network Evine, and he got canned last year. Bob Rosenblatt took over.

Evine got a boost last year when investors, including music exec Tommy Mottola and designer Tommy Hilfiger, poured in $10 million for company stock.

Segel was at Evine as a consultant in 2008, and then worked at the company as an executive of vendor relations and business development before exiting.

QVC Selling Luxury Jewelry Brand Alor

October 14, 2017

Jewelry brand Alor, which you can find in stores like Nordstrom, has arrived at QVC, to our surprise.

It incorporates stainless steel cables and sometimes diamonds. We have one piece that we picked up in TJ Maxx years ago.

Love it.

http://www.qvc.com/jewelry/alor/_/N-mfluZ1z12p0l/c.html?cm_ite=MAIN_AJY:ALORJewelryCollection&cm_ven=POSTCARD&cm_cat=WhatsNew_Week4217EM_20171012_ALLPLAY_CAMP5155&cm_pla=WN_10PlusMBS_QVCActive_2105820203&p1=1D6F8B15-61A9-4941-AFE1-99B63DB5D5B7&p2=CFFC4858-7FCF-4219-934A-3AF190B2C88D&cvosrc=email.cheetahmail.2105820203

HSN Honchos Out After QVC Acquisition

October 14, 2017

When news broke earlier this year that QVC’s parent company was buying HSN, we knew a lot of executives would be exiting once the reorganization began to merge the two home shopping networks. Well, that other shoe dropped this week.

Liberty Interactive Corp. announced a slew of appointments and promotions.

Not on the list: The honchos at HSN, who will be gone. This includes HSN President Bill Brand, who who have met and interviewed over many years. We will be sad to see him go. But is is typical for the old management team to leave following an acquisition — just like layoffs are common as departments get merged.

http://www.stockhouse.com/news/press-releases/2017/10/12/qvc-group-announces-plans-for-new-leadership-team-and-structure-to-drive-global

HSN has been without a CEO since Mindy Grossman left to head up Oprah Winfrey’s Weight Watchers. And QVC, the domestic channel, has been without a chief forever. Both networks have seen their sales drop during the past few quarters, facing a difficult retail market in America.

Now both those home shopping networks will have heads, Mike George said in Liberty’s press release.

Steve Hofmann was named president of QVC US. He is currently president of QVC International, a unit that has performed very well for Liberty Interactive.

“QVC US brings the QVC shopping experience — combining the best of retail, media and social—to customers in the US,” the press release said. “It is our largest business unit with over $6B in revenue in 2016.”

Mike Fitzharris was named HSN’s president, He is currently CEO, representative director and chairman of QVC Japan.

In addition, Doug Howe was named chief merchandising officer.

And the press release had a goodbye to Brand and his cohorts at HSN.

“I’d like to acknowledge and thank Bill Brand, Rod Little, and Judy Schmeling, who comprise the Office of the Chief Executive at HSNi, who will be stepping down post the transaction closing,” George said.

“They have steered the company well through the changes of the last several months and have been a trusted sounding board to me and our other leaders as we plan for the future. Each has made extraordinary contributions to HSNi, building the company into one of the premier lifestyle retailers. I’m grateful for all their support and look forward to working with them in the coming months to ensure a smooth transition.”

To our surprise, Liberty filed a statement with the Securities and Exchange Commission that included a transcript of George’s comments following the big announcement. We’re not sure if he was talking to Wall Street analysts or employees.

http://www.hsni.com/secfiling.cfm?filingid=950103-17-9965&CIK=1434729

Here’s what George had to say about his execs and their activity in advance of the completion of QVC’s purchase of HSN:

SO THEY’VE BEEN HAVING LOTS OF FUN AND SOME STRESS AND CHALLENGE, KIND OF WORKING THROUGH THAT EFFORT. THINKING ABOUT WHERE THERE ARE OPPORTUNITIES FOR SYNERGIES, FOR COST SAVINGS, BUT ALSO FOR REVENUE OPPORTUNITIES, GROWTH OPPORTUNITIES. SO THOSE TEAMS HAVE BEEN DEPLOYED. THEY’RE HARD AT WORK. A NUMBER OF YOU HAVE BEEN INVOLVED IN THAT EFFORT.

AND THEN AT THE SAME TIME WE’VE BEEN THINKING ABOUT ORGANIZATION DESIGN. HOW DO WE BRING THESE COMPANIES TOGETHER WITH AN ORGANIZATIONAL STRUCTURE THAT WILL MAKE SENSE, THAT WILL LET EACH OF THE BRANDS UNDER THIS NEW COMPANY ACHIEVE ITS FULL POTENTIAL.

Here is George’s shout-out to Brand, et al. What do you think of it?

NOW BEFORE I GET INTO THOUGH, ONE OF THE THINGS I DID WITH THE HSNI TEAM WAS I TALKED A LITTLE BIT ABOUT THE EXECUTIVE LEADERS AT HSN, WHO HAVE BEEN SUCH GREAT PARTNERS TO ME IN TAKING THIS FORWARD. SOME OF THEM WHOM WILL CONTINUE ON IN THE COMBINED COMPANY, AND WE’RE THRILLED ABOUT THAT, SOME OF WHOM ARE MOVING ON.

AND THAT’S THE REALITY OF THIS KIND OF ACQUISITION IS YOU GET SOME GREAT NEW PEOPLE AND YOU LOSE SOME GREAT PEOPLE. AND BILL JUST WARNED ME, HE SAID DON’T GO TALKING ABOUT EVERY PERSON ON THE EXECUTIVE TEAM, JUST KIND OF GET THE NEWS. SO I WON’T EMBARRASS EVERYONE ON THE EXECUTIVE TEAM, LIKE I DID IN THE POWER MEETING. BUT FULL DISCLOSURE, BUT I DO WANT TO JUST TAKE A MOMENT TO APPRECIATE BILL AND ROD AND JUDY.

[APPLAUSE]

THEY HAVE BEEN TREMENDOUS PARTNERS TO ME AND THE WHOLE TEAM AND THEY HAVE BEEN SO FOCUSED ON WHAT’S RIGHT FOR HSN, WHAT’S RIGHT FOR THE NEW COMPANY, WHAT’S RIGHT FOR OUR PEOPLE, AND THEY SHOW UP EVERY DAY TRYING TO MAKE A DIFFERENCE. AND YOU KNOW IT DOESN’T ALWAYS GO THAT WAY, BUT YOU SORT OF TAKE THAT FOR GRANTED HERE AT HSN BECAUSE THAT CULTURE’S DEEP EMBEDDED IN THE COMPANY.

AND SO IT’S BEEN MY GREAT PRIVILEGE AND HONOR TO GET TO KNOW THE THREE OF THEM AND ALL THE MEMBERS OF THE EXECUTIVE TEAM AND AGAIN THRILLED THAT SOME WILL BE STAYING WITH US, BUT OF COURSE ROD, JUDY, BILL, A FEW OTHERS WILL BE MOVING ON AS WE MOVE TO CLOSE. AND ARE JUST GRATEFUL FOR ALL YOU’VE DONE TO SUPPORT THIS EFFORT SO THANK YOU.

[APPLAUSE]

And don’t let the door hit you in the ass on your way out.

However, we are pretty sure that Brand and the gang have nice contracts that give them generous golden parachutes if HSN is purchased.

QVC’s Parent To Report Third-Quarter Results Nov. 9

October 10, 2017

QVC’s parent company, John Malone’s Liberty Interactive Corp., will post its third-quarter earnings Nov. 9, the companies said Monday.

Liberty Interactive President and CEO Greg Maffei, will host a conference call to discuss results at 11 a.m.

Following prepared remarks, the company will host a brief Q&A session during which management will accept questions regarding both Liberty Interactive and Liberty TripAdvisor Holdings.

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 Liberty Interactive website. The conference call will be archived on the website for one year after appropriate filings have been made with the Securities and Exchange Commission.