Is this the end of Evine?

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GeorgeH
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Re: Is this the end of Evine?

Post by GeorgeH » Fri May 10, 2019 12:49 pm

Something I learned from working for the same company (the one that does TV ratings) for 34 years before retiring is that you can't manage what you don't measure. So I learned how to use Microsoft Excel Spreadsheets. They are a handy tool for keeping track of shit like calories, household budgets, investments and yes watch collecting. When I retired in Jan 2005 I had time on my hands. When I started watch collecting in Jan 2006 I starting keeping track of every purchase in an Excel Spreadsheet. I had columns set up for:
Bought Brand Model Model # SER. NO. Paid Est. Value Insured Date Sold Price * S&H Paypal fee eBay fee Net PCT.

I blame watching Shop NBC for getting me interested (addicted) to the Invicta, Croton, Renato, etc types of watches. But, it was the watch Forums, including BDWF, where I started spending some really serious money on watches. Somebody would show off their nice Omega Seamaster, or Breitling Steelfish and I said I've got to get one of those! At one time I had 60 watches in my collection. I wouldn't call the watches an investment but they are a hobby and they are hard assets. If you go on cruise and spend $5,000 you've got some nice memories but you can't sell your memories for $4,000 and put that towards another cruise.


Hater wrote:1% of your entire portfolio is with that shopping network??? Really?

I suppose it would make sense trying to keep that place afloat.

Staying on topic; do people really purchase wristwatches (from wherever) and monitor their return on investments?
That is a new one on me and I shutter to know how my watch "investments" purchases equate to a profit and losses over the many years.
GeorgeH
"Buy what you like and can afford"
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JAS1125
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Re: Is this the end of Evine?

Post by JAS1125 » Wed May 29, 2019 10:30 am

More info...going back to ShopHQ name also

Evine Live Inc. Reports First Quarter Results; Announces New Interactive Media Growth Strategy and $15 million Reduction in Overhead Costs
05/29/2019
Company to Change its Name to iMedia Brands, Inc.
MINNEAPOLIS, May 29, 2019 (GLOBE NEWSWIRE) -- Evine Live Inc. (NASDAQ: EVLV) today announced results for the first quarter ended May 4, 2019. In addition, the Company announced its new interactive media growth strategy to build shareholder value.

First Quarter 2019 Financial Summary

Net sales of $131.5 million, a 16.0% decrease compared to the prior year
Gross profit margin of 28.4%, a 750 basis point decrease year-over-year
Net loss of $21.0 million, compared to net loss of $3.0 million in the prior year
Adjusted EBITDA of ($8.5) million, compared to $3.3 million in the prior year
EPS of ($0.31) compared to ($0.05) in the prior year
Total liquidity of $34.4 million at quarter end, consisting of unrestricted cash of $28.7 million and $5.7 million of availability on the Company’s revolving credit facility
Executive Commentary – Tim Peterman, CEO since May 2, 2019

“I am excited to rejoin Evine as its new CEO. Although we have only been working as a team again for less than a month, we have already identified the primary causes for Evine’s dramatic financial declines these last few quarters and begun to implement focused remediation actions.

In terms of our first quarter, 2019 performance, there is no other way to say it – our performance was poor. In fact, our performance over the past three quarters has significantly missed expectations, and we must perform better for our shareholders and employees. Our plan to reverse our recent negative financial trend is clear, exciting and already in motion. In the last 20 days, we have accomplished the following:


We secured the services of Eyal Lalo, as our new Vice Chairman, and we expect he will help us reignite our vendor community with passion while also helping us find and launch new vendors to strengthen our product assortment in all of our merchandising categories. This is also a cornerstone of our remediation effort. In the last three years, Evine has not launched a single brand that has exceeded $10 million in annual revenues. Eyal is already making a difference for us in this area.

In the second quarter, we are planning to change the name of the Evine network back to ShopHQ, which was the name of the network in 2014. ShopHQ is easier to recognize for existing television retailing customers, who spend over $9 billion annually with television retailers in U.S. We believe this more intuitive and recognizable name will allow us to better promote to our network and build our customer file again. Our conclusion from the review of the customer impact data related to the change to Evine in 2015, was that it was not positive.


http://investors.evine.com/news/news-de ... hLOUaXCfhM
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