Stay in Touch
Get sneak previews of special offers & upcoming events delivered to your inbox.
Sign in
05-29-2019 05:09 PM
For those of you interested, I just read that Evine is changing its name back to SHOP HQ - LOL.
http://tcbmag.com/news/articles/2019/may/evine-live-is-out-shophq-returns
05-29-2019 05:15 PM
I started watching this channel around 2006 and it was then called Shop NBC.
05-29-2019 05:19 PM
@nycgrl wrote:For those of you interested, I just read that Evine is changing its name back to SHOP HQ - LOL.
http://tcbmag.com/news/articles/2019/may/evine-live-is-out-shophq-returns
Read an article where they also cut executives and made some other internal changes. I hope that changing the name will come with a better business model. Only time will tell...hope the future changes are good for the company and customers.
05-29-2019 05:30 PM
Eden Prairie-based Evine Live Inc. home shopping channel has been a troubled company for as long as anyone can remember. The company’s latest financial results – first quarter numbers released on Wednesday – won’t do much to change that perception.
The company’s sales for the quarter, which ended May 4, were $131.5 million – a steep 16 percent drop compared to the same period a year ago. Evine also reported a net loss of $21 million for the first quarter, significantly larger than the $3 million net loss in the first quarter of 2018.
“In terms of our first quarter, 2019 performance, there is no other way to say it – our performance was poor,” said Tim Peterman, Evine’s new CEO, in a statement. Peterman has only been CEO since May 2.
But beyond the numbers, Evine announced a lot of news.
The company’s stock last closed above a dollar per share on Nov. 27, 2018, at a price of $1.05 per share. The next day the stock plummeted 37 percent in response to the company’s third quarter 2018 earnings announcement. The stock closed at 45 cents per share on Tuesday and was nominally down slightly in Wednesday trading.
For fiscal year 2018, Evine reported $596.6 million in sales – down 8 percent from the year before – and a net loss of $22.2 million.
05-29-2019 05:38 PM
The new chief executive, Tim Peterman, said the "Evine Live name had never resonated with customers." No kidding - most of use could have told them it wouldn't. He also said that, among other initiatives, ShopHQ would launch a men's shopping brand called Shop Bulldog.
ShopHQ lost $21 million on the first quarter, compared to a $3 million loss a year ago. Peterman himself is a former CFO of the company and he's already been sharpening his pencils and eliminating senior executive positions.
05-29-2019 06:07 PM
Eliminating so many executives is proof that it was definitely top heavy. Biggest expense is Mahogany Row.
I have always wondered why the name change to "EVINE"; does anyone know WHY they chose that name?
One of the things I hope they don't change is the high end quality that is offered as well as a limited quality of those items. IMHO, it makes them more unique and the vendor doesn't have to put a ton of money into making thousands of them which means a great price for us.
05-29-2019 06:21 PM
If they would just sell more than watches!
05-29-2019 06:21 PM
The name Evine didn't click with me. The company needs to go HDTV on Comcast.
IMO, it's production is not as classy as QVC and some of the show hosts are annoying, but it does carry some good brands.
But, with 2018 7% sales down for HSN and only 2018 1.5% increase for QVC, something doesn't look good for home shopping. All three have online shopping websites, so what's the problem?
Many legitimate reasons, shipping, products, etc have been discussed. Could some of it be Amazon?
05-29-2019 06:36 PM
@newjersey wrote:I started watching this channel around 2006 and it was then called Shop NBC.
When I first started shopping with this channel it was called Value Vision. That's been a looooong time ago. 😲
05-29-2019 06:46 PM
Get sneak previews of special offers & upcoming events delivered to your inbox.
*You're signing up to receive QVC promotional email.
Find recent orders, do a return or exchange, create a Wish List & more.
Privacy StatementGeneral Terms of Use
QVC is not responsible for the availability, content, security, policies, or practices of the above referenced third-party linked sites nor liable for statements, claims, opinions, or representations contained therein. QVC's Privacy Statement does not apply to these third-party web sites.
© 1995-2024 QVC, Inc. All rights reserved. | QVC, Q and the Q logo are registered service marks of ER Marks, Inc. 888-345-5788