Posts Tagged ‘ShopHQ’

Jewelry Vendor Chuck Clemency To Exit ShopHQ For Shop LC

May 28, 2020

This is blockbuster news in the home shopping world: Jewelry vendor and Jersey guy Chuck Clemency is leaving ShopHQ, where he has been forever, for Shop LC!

We just got back from an evening walk and checked Facebook and saw a post from Clemency.

“When opportunity knocks … I answer,” he wrote. “And I want ALL of you to come along. The fastest-growing, most innovative and most importantly — JEWELRY FOCUSED-network — ShopLC will be my new home starting in July.”

Clemency said more specifics and updates will follow.

Well, now two of ShopHQ’s “Three Amigos” — jewelry vendors Clemency, Paul Deasy and Michael Valitutti — have exited that home shopping network, although we heard Deasy is supposedly on his way back to Minnesota.

We enjoy watching Clemency, but really haven’t been wowed by his collection much recently. But we did break down and purchase his diamond “smile” necklace, similar to a Tiffany’s “T” design, and think it is gorgeous.

Can’t say that we’ve watched Shop LC, but we will tune in to see what Clemency has to offer.

Getcha Invicta Face Mask Here!

May 20, 2020

Lord help us.

ShopHQ has been the home-shopping leader in hawking personal protection equipment, but we just saw they are now selling Invicta-branded face masks.

Yep, five of them for $39.

You’ve got to be quite a fan of those watches to pick those masks up. Or a sap.

We’re going to be looking for Timex or Swatch face masks.

ShopHQ Sees 4Q Sales Dive 22%, Lays Off 152 Employees

April 17, 2020

If you are a home shopping network, you don’t want to be ShopHQ. The company reported dismal fiscal-fourth quarter earnings this week, and dropped the ax on another raft of employees.

Revenue in the fourth quarter nosedived 22%, to $124 million, compared to the same year-ago period. What happened?

In a press release, ShopHQ said “half of this decline was expected and attributable to the company’s recent customer file decline.” We have no idea what that means.

There were also three one-time events that drove the dip, the network said.

They were:

* Scheduling conflicts in December with top two beauty brands,

* Reduction in consumer electronic products due to the largest CE vendors requiring “cash in advance” payment terms, and

* Reduction in watch revenue resulting from management’s strategy to reverse its five-plus year customer file decline by reducing the average selling price to capture more new customers.

The network also had an $18.4 million net loss in 4Q, versus a $10 million loss in that same quarter in the year-ago period.

In addition, one of our readers tipped us off that the Minneapolis Star Tribune reported that ShopHQ had laid off 152 employees. That story made reference to our blog, as a source for the exit of host Laura Duffek.

On the plus side, ShopHQ said it had completed its acquisition of J.W. Hulme, “an iconic, 114-year-old American brand offering artisan-crafted accessories and apparel via e-commerce, catalogs and one flagship retail store in St. Paul, Minnesota.”

Iconic? We’ve never heard of it.

ShopHQ got a $4 million private cash infusion led by Eyal Lalo, Invicta’s CEO and vice chairman of the network’s parent company, iMedia. The watch company Invict has a huge stake in ShopHQ, which is why every time you turn on the channel you see its timepieces being hawked.

What did CEO Tim Peterman have to say?

First and foremost, in terms of the COVID-19 situation and these uncertain and stressful times, iMedia continues to be focused on taking every necessary step to keep its employees, vendors, customers, guests, and their families safe.

We are also focused on continuing to provide our customers with the products and services they love, and we feel very fortunate our company remains operational and relevant so we can continue to build value for our shareholders.

In terms of Q4 performance, from a ShopHQ revenue perspective, it was a mixed report card. We achieved significant viewership, customer file, and product assortment successes, but we also absorbed revenue pressure from three unplanned events. With that being said, I’m proud of how our teams reacted to reduce the probability of re-occurrence.

Financially, our turnaround continues In our first nine months since May 2019 when I rejoined as CEO, we materially reduced the company’s adjusted EBTIDA loss compared to the prior nine months.

Strategically, Q4 is when we really began to demonstrate our plan to grow our portfolio of engaging niche television networks, niche national advertisers and complementary media services. We launched Bulldog and our membership service, ShopHQ VIP. We acquired two important new businesses that will further accelerate our evolution into a profitable, growing interactive media company.

If you say so, Tim.

Dubrow $28.95 Hand Sanitizer Raises Ruckus At ShopHQ

April 17, 2020

ShopHQ made our favorite gossip column, the New York Post’s Page Six, this morning, as did vendors Heather Dubrow and her plastic surgeon hubby Terry.

Heather, a reality TV star from “The Real Housewives of Orange County,” and her husband, of the TV show “Botched,” sell the Consult Beauty line of products on the Minnesota-based home shopping network.

We hadn’t seen this, but had heard, that most recently the glamorous Left Coast couple was hawking their own brand of hand sanitizer for $28.95 in the midst of the coronavirus pandemic.

That got them rammed on Twitter for alleged price-gouging, and Page Six picked up on the brouhaha.

The Dubrows defended their pricing and actions to Page Six. Terry said that prices have soared for the ingredients in the Consult hand sanitizer. Heather, in turn, said some of the proceeds of the sales, some $35,000, had gone to a food bank in Cali.

Not a good week for ShopHQ. But more on that shortly.

ShopHQ Postpones 4Q Earnings Report Due To Pandemic

March 31, 2020

ShopHQ has rescheduled its fourth-quarter earnings release, originally slated for this week, until April 15.

“Due to COVID-19 complexities, including the recent shelter in place orders affecting iMedia employees in both Minnesota and Kentucky, iMedia Brands is using additional time to complete its year end audit procedures,” ShopHQ, whose corporate name is iMedia, said in a press release.

Is Host Laura Duffek Gone From ShopHQ?

March 30, 2020

There were several posts on our blog saying that Laura Duffek had announced on Facebook that she was gone as a host at ShopHQ.

We checked her Facebook page, and didn’t see any such post. And Duffek is still listed as a host on the home shopping channel’s webpage.

Here is her bio:

Laura Duffek returns to ShopHQ having built a well-deserved reputation for being an informative and entertaining host whose ability to romance products makes customers fall in love too.

Her passion for customers is immediately evident, and her ability to make everyone feel welcome is just one of the many reasons she has fans who have stayed in touch with her for the last 25 years.

Can anyone add any clarity on this?

Home Shopping Networks End, Limit On-Air Guests During Coronavirus Outbreak

March 23, 2020

It’s no longer business as usual in America, or on U.S. home shopping networks.

We knew major changes were afoot a few days ago when veteran ShopHQ jewelry vendor Chuck Clemency made his appearance remotely, from his home in our home state, New Jersey.

Then we got this email from ShopHQ:

To Our Valued Customers,

As this global health concern continues to unfold, the ShopHQ family wants you to know that our number one priority is to continue to take every necessary step we can to ensure the health and safety of our customers, employees and guests.

We are diligently following the guidelines of the Centers for Disease Control and Prevention (CDC), so that our ShopHQ family can continue to support you with the highest quality service without disruption. Our customer solution agents, many of whom work from home, remain available to take your calls 24/7. We continue to be on-air and online 24/7 with engaging entertainment and shopping. And, you can always find us available on our social channels.

I want to personally thank you for being a part of our community. And as with all personal and professional challenges in life, big and small, we will work smart, we will work tirelessly, and we will get through this. Thank you.

Tim Peterman

Then QVC product rep Linda Davis posted on Facebook that as of today, Monday, on-air guest hosts would no longer be allowed on the No. 1 home shopping channel.

“My heart is heavy but I support their decision for safety,” Davis wrote. “There are many of us and hard to control the amount of people coming in. Safety for all first.”

Davis, who has been on QVC 18 years, said she appeared on the network most recently last Wednesday.

“I am sitting this quarantine out alone,” she wrote.

Meanwhile on JTV, hosts are sitting 6 feet away from each other, practicing social distancing.

It will be interesting to see if the home shopping networks see a burst in sales with malls and brick-and-mortar retailer closed, or if consumers will take advantage of e-commerce and just shop online.

Jambu, Kimberly Wells Coming To HSN In April

March 8, 2020

We liked and were buying Jambu shoes and boots long before they arrived on ShopHQ. We like their chunky look.

So we are happy to see that not only Jambu but former ShopHQ host Kimberly Wells are jumping from that home shopping network and coming to HSN, starting April 9.

Looks like Wells, who left ShopHQ a way back, will be the on-air rep for the footwear line.

Hope there are some good deals.

Pamela McCoy Brings Lab-Grown Diamonds to ShopHQ, Yech

February 23, 2020

We saw today that ShopHQ vendor Pamela McCoy has a new jewelry line: Carbon Copy.

It’s a very clever name for lab-grown diamonds, a product we won’t be spending any money on.

Today she is featuring a large cross, which appears to be the same design of a real diamond cross we bought from her a few years ago.

Can us snobs, or idiots, but we don’t like lab-made or man-made when it comes to any of our gemstones.

ShopHQ’s Chief Financial Officer Is Canned, ‘Fixed’ Program Sked Coming

February 6, 2020

There’s never a dull moment at ShopHQ.

The home shopping network told the SEC Wednesday that it had fired Michael Porter as its senior vice president and chief financial officer, effective last Thursday.

CEO Timothy Peterman will serve as acting principal accounting and financial officer until a successor is appointed.

Porter is expected to continue to serve as a consultant for ShopHQ through Feb. 29, to provide “consultation and assistance as reasonably requested by the company.”

In exchange for his continued service, he will be entitled to continue his “existing compensatory arrangements for the duration of his continued service.”

And see if you can make sense of this press release from ShopHQ today. It appears that March 1 the home shopping channel will institute a fixed schedule with regular weekly shows. And we bet these changes mean more people lost jobs.

iMedia Restructures Organization to Improve ShopHQ On-Air Programming
Announces Estimated $15 Million Reduction in Annual Costs and CFO Transition

MINNEAPOLIS, Feb. 05, 2020 (GLOBE NEWSWIRE) — iMedia Brands, Inc. (Nasdaq: IMBI) today announced it completed an organizational restructuring in January 2020 to improve the performance of ShopHQ’s on-air programming and accelerate the company’s return to profitability.

“We are nine months into our turnaround plan,” said Tim Peterman, CEO of iMedia Brands, “and as our culture becomes more entrepreneurial each day, we are finding faster ways to improve our underperforming areas. Our next innovation centers on improving the quality, variety and consistency of our on-air programming. I’m proud of how we implemented three key changes, explained below, to drive innovation for the benefit of our customers, employees, and shareholders.”

Introduced a “fixed” program calendar with weekly static shows – Historically, ShopHQ’s programming strategy attempted to optimize every minute of every hour, which required the organization to constantly change its program calendar. Over time, this program strategy unintentionally drove a pronounced ShopHQ viewership and revenue decline and required a large ShopHQ infrastructure to execute.

We believe television retailing customers prefer predictable routines of watching shows with their favorite hosts, their favorite categories, and at their favorite times of day. Therefore, this past fall/holiday season, ShopHQ tested on-air how best to implement a fixed calendar strategy. Utilizing these learnings, on March 1, 2020, ShopHQ will launch its first-ever “fixed” program calendar.

Aligned merchandising teams and on-air producers – Historically, ShopHQ’s go-to-market process for a product was performed through a series of complicated internal “hand-offs” among six departments that often resulted in inconsistencies, delays and incompleteness.

In January, the company restructured to establish dedicated producing teams for each category that will be led by that category’s merchant GMM — who knows best how their category’s products and stories should be communicated to customers.

Redesigned organization to implement this innovation – In January 2020, management restructured the organization and estimates it removed $15 million in annual costs, including $10.5 million in salaries and benefits. In addition, effective January 30, 2020, Michael Porter, the company’s CFO, has departed the company. Tim Peterman, the company’s CEO, who served as the company’s CFO & COO in 2016 and 2017, has been appointed interim-CFO until such time the company names the new permanent CFO.