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According to the National Retail Federation, shoppers plan to spend an average of $102.50 on Valentine’s gifts for loved ones this year, down from $122.98 a year ago. Sixteen percent of surveyed consumers said they plan to purchase a jewelry gift, ranking the category second behind flowers. National Retail Federation Jan. 29, 2009
Tags: National Retail Federation, NRF, Valentine's DayMemphis, Tennessee-based Wanderlich Securities has upgraded Liberty Media (Nasdaq: LINTA) from Hold to Buy, largely on the prospects of an ‘L-shaped’ recovery for QVC and the likelihood that the electronic retailer can eventually replicate its model in new markets like China. Wanderlich raised its price target for Liberty from $4.25 to $5.00. StreetInsider.com Jan. 28, 2009
Tags: Liberty Media, QVC, Wanderlich SecuritiesIn addition to promoting former longtime QVC executive Keith Stewart from COO to CEO (as part of a planned succession), ShopNBC is tapped two other QVC veterans for strategic advice. Randy Ronning has joined the board of directors and Darlene Daggett will consult as a strategic advisor. Details about the many senior-level positions this group held at QVC is available on the source link. The question is: can they repeat that success with the third horse in a three-horse race? ShopNBC Press Release Jan. 27, 2009 Internet Retailer Feb. 2, 2009
Tags: Darlene Daggett, Keith Stewart, Randy Ronning, ShopNBCThe National Retail Federation is forecasting a 0.5% reduction in U.S. retail sales this year, the first year-over-year decline in fourteen years. Bloomberg News National Retail Federation Jan. 27, 2009
Tags: recession, U.S. retail salesShopNBC spent the past six months pitching itself to prospective buyers at the insistance of irate shareholders, but no one submitted a final bid. The company will put its nose to the grindstone and try to improve its performance in the midst of the worsening recession, although now under the leadership of Keith Stewart, the company’s chief operating officer and a former QVC executive. He replaced John Buck as CEO yesterday. More »
Tags: ShopNBC, strategic review
Steve Hoffmann
Steve Hofmann, ceo of QVC UK, says that, despite straightened times, his company will continue to eschew discounting and instead benefit from the loyalty of its mostly older customer base. He acknowledges that these days, “customers are being more selective and looking for the right product at a good price from a retailer they trust.” But he makes clear that he sees QVC UK’s strength as the “trust” part. Retail Week (UK) Jan. 23, 2009
Tags: QVC UK, Steve HoffmannHSN will will premiere The Sensa Weight-Loss System on TV and the web, January 26. The network will be the first major retail outlet for the new product, which was developed by Dr. Alan Hirsch, and is based on his research linking human olfactory senses to overeating. Dayna Devon, co-host of entertainment news program, Extra, is spokesperson and will join HSN hosts for the pitch. Sensa and HSN Press Release Jan. 22, 2009
Tags: Dayna Devon, HSN, Sensa, weight-lossNBC Universal Inc., the media subsidiary of General Electric Company, contributed $865 million in operating profit in the fourth quarter, down 6 percent from a year ago. Revenue fell 3 percent to $4.43 billion from $4.55 billion during the period. ShopNBC and the Ion television network were two of the investments contributing to the NBC Universal write-down. Associated Press on Forbes.com Jan. 23, 2009
Tags: General Electric, NBC Universal, ShopNBCShopNBC has announced that it will hold a conference call to present the results of its strategic alternatives review process and discuss preliminary fiscal fourth quarter and full year 2008 results on Tuesday, January 27, 2009, at 10:00 a.m. ET.
Tags: 4th quarter results, ShopNBC, strategic review