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Valued Contributor
Posts: 687
Registered: ‎04-14-2010

Re: HSN CEO Mindy Grossman leaving in May

[ Edited ]

If you read the financial page, HSN sales are and still declining. This was reported back in Oct 2016. So far this year sales have not increase to satisfy the stock holders. I think she was  very good at HSN, but she recognize it was time  to move on, she's only 59, years old.

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Registered: ‎12-12-2014

Re: HSN CEO Mindy Grossman leaving in May


Mindy was awesome for HSN. When she took ovet the net in 2006 the place was an absolute mess. It was stuck in a time warp and didnr have all the product lines it does now. She changed the sets, graphics and hired younger new hosts. She made HSN such a better network. Mindy should do fabulous at Weight Watchers. Its too bad she isnt coming to QVC.
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Re: HSN CEO Mindy Grossman leaving in May

She is going to head Nutrisystem.

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Re: HSN CEO Mindy Grossman leaving in May

[ Edited ]

@dperry wrote:

She is going to head Nutrisystem.


Everything I have read on-line says she is going to head Weight Watchers International.

 

Here is another article.  I wonder if she saw the writing on the wall for her at HSN.  This article says HSN's net income fell 30% in 2016.

 

 http://www.bizjournals.com/southflorida/news/2017/04/27/hsn-ceo-mindy-grossman-steps-down-after-a-to...

 

I also read an article about this in the Tampa Bay Times and the author said that both HSN and WW are aging brands in need of rejuvenation.

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Re: HSN CEO Mindy Grossman leaving in May


@Lipstickdiva wrote:

@dperry wrote:

She is going to head Nutrisystem.


Everything I have read on-line says she is going to head Weight Watchers International.

 

Here is another article.  I wonder if she saw the writing on the wall for her at HSN.  This article says HSN's net income fell 30% in 2016.

 

 http://www.bizjournals.com/southflorida/news/2017/04/27/hsn-ceo-mindy-grossman-steps-down-after-a-to...

 

I also read an article about this in the Tampa Bay Times and the author said that both HSN and WW are aging brands in need of rejuvenation.


 

I do wonder if you're right and that Mindy left before she was pushed out. Retailing has taken a hit from all sides and I don't think that the economy is all that healthy and consumers are right to be cautious.

 

A former HSN executive who was a chief marketing officer left nearly 2 years ago, Anne Martin-Vachon, has been the president of The Shopping Channel in Canada since last August and I can tell she has implemented a lot of things that HSN does including getting rid of show recaps and running blurbs for buy it now purchases. They have brought back some HSN vendors like YBF and given airtime to newer vendors from HSN like Imperial Pearls. TSC has more clothing vendors from HSN than QVC -- some work well like Marla Wynne and some others not so much like DG2 (who hasn't been on air since last summer).

 

The Shopping Channel is fully owned by Rogers Communications and they don't break out their financial numbers separately for The Shopping Channel but I am guessing that given the economy that the Canadian shopping channel isn't doing any better than the american ones. They were rumored to be up for sale last year but nothing came of it. I have noticed big increases in the price of items though and I really wonder if people are really buying very much from them.

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Posts: 32,397
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Re: HSN CEO Mindy Grossman leaving in May

[ Edited ]

@winamac1 wrote:

That is a total bummer.  She's been great for HSN.  I hope the sales don't disappear when she disappears and they bring in new leaders.


@winamac1

 

The financial results for HSN's last quarter were posted in the Q Talk thread and sales have been declining for a while.  To give you an example, In the third quarter sales decreased 3.5 % from the prior year even though she reduced prices by 5%.  And their gross profit decreased 7%.  And in the 4th Quarter (Christmas shopping season), net sales decreased 1%, and gross profits decreased 9%.

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Re: HSN CEO Mindy Grossman leaving in May

@stevieb

 

Hey Stevie did you see this...."aunt" Mindy is leaving HSN 5/24/17.......wonder if the handwriting will soon be on the wall for another Shopping Channel....(hint, hint)........

 

https://homeshoppingista.wordpress.com/2017/04/27/holy-mackerel-hsn-ceo-grossman-to-head-oprahs-weig...

Animals are reliable, full of love, true in their affections, grateful. Difficult standards for people to live up to.”
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Re: HSN CEO Mindy Grossman leaving in May


@Spurt wrote:

@winamac1 wrote:

That is a total bummer.  She's been great for HSN.  I hope the sales don't disappear when she disappears and they bring in new leaders.


@winamac1

 

The financial results for HSN's last quarter were posted in the Q Talk thread and sales have been declining for a while.  To give you an example, In the third quarter sales decreased 3.5 % from the prior year even though she reduced prices by 5%.  And their gross profit decreased 7%.  And in the 4th Quarter (Christmas shopping season), net sales decreased 1%, and gross profits decreased 9%.


My buying went up with them!

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Re: HSN CEO Mindy Grossman leaving in May

[ Edited ]

@Spurt wrote:

@stevieb

 

Hey Stevie did you see this...."aunt" Mindy is leaving HSN 5/24/17.......wonder if the handwriting will soon be on the wall for another Shopping Channel....(hint, hint)........

 

https://homeshoppingista.wordpress.com/2017/04/27/holy-mackerel-hsn-ceo-grossman-to-head-oprahs-weig...


@Spurt... I'm seeing it now... While I knew the HSN financial picture wasn't rosy and hasn't been for a while, I do think she improved the network... There's still vast room for improvement, though, in my opinion... Personally, among the very last companies I'd want to run is WW... But hey, whatever works for her... And OMG YES, I hope to see QVC follow suit, but I think Mikie is the Papa Doc of the corporate world and, apparently, will be CEO for life... Truthfully, I think TV based home shopping is just plain aging out and unless they change their fundamental approach, they'll be to the corporate world what daytime soaps were to TV: almost completely losing their audience over the course of a decade or so and becoming increasingly irrelevant... They're all stuck in a rut and in a time warp and at the same time the audience that still finds them worthwhile isn't going to live forever... I don't think they're capturing a new audience to the extent they'd like... or that they'd like us to believe... 


In my pantry with my cupcakes...
Honored Contributor
Posts: 32,397
Registered: ‎03-20-2010

Re: HSN CEO Mindy Grossman leaving in May

[ Edited ]

@stevieb wrote:

@Spurt wrote:

@stevieb

 

Hey Stevie did you see this...."aunt" Mindy is leaving HSN 5/24/17.......wonder if the handwriting will soon be on the wall for another Shopping Channel....(hint, hint)........

 

https://homeshoppingista.wordpress.com/2017/04/27/holy-mackerel-hsn-ceo-grossman-to-head-oprahs-weig...


@Spurt... I'm seeing it now... While I knew the HSN financial picture wasn't rosy and hasn't been for a while, I do think she improved the network... There's still vast room for improvement, though, in my opinion... Personally, among the very last companies I'd want to run is WW... But hey, whatever works for her... And OMG YES, I hope to see QVC follow suit, but I think Mikie is the Papa Doc of the corporate world and, apparently, will be CEO for life... Truthfully, I think TV based home shopping is just plain aging out and unless they change their fundamental approach, they'll be to the corporate world what daytime soaps were to TV: almost completely losing their audience over the course of a decade or so and becoming increasingly irrelevant... They're all stuck in a rut and in a time warp and at the same time the audience that still finds them worthwhile isn't going to live forever... I don't think they're capturing a new audience to the extent they'd like... or that they'd like us to believe... 


@stevieb

 

Other than Sears, Kmart, and others on brink of bankruptcy ....WW is one of the last she should have considered.......but taking a line from a movie....maybe they made her an offer she couldn't refuse....Woman Wink

 

Unless they change their ways the shopping channels could go the way of 5 and 10's........boring programming, annoying hosts, limited products and most important uncompetitive prices won't keep a retailer in business very long.........And moderinizing channels doesn't mean being on Facebook, and having an APP......HSN may have improved under Ms. Grossman, but too me every time I flip past all I see are electronics and beauty items, very cheap looking jewelry.........they have their share of annoying hosts too..........BUT at least they have good sales, email coupons and have promotions for their customers unlike a certain Westchester company....Woman Frustrated

 

I think Mr. Mike has his own warped vision of what QVC is....Those young fashionable models on the Q promos are what he envisions.....but the truth is QVC's attraction is limited to the 60's and above set who are long time customers and think QVC is the only option in online ordering..........

 

I had to laugh when Leah mentioned this morning for folks to post questions on FB and she will try to answer them.  But one of the things that she brought up is people often ask about outfits she wears and if the items are available on QVC.  The thing is funny is the hosts should ALWAYS wear QVC products....if they don't doesnt that speak volumes of what they think of their own merchandise, and if the hosts prefer other brands, dont they think their customers feel the same........Woman LOL

 

Have a good weekend!

Animals are reliable, full of love, true in their affections, grateful. Difficult standards for people to live up to.”