hsn inc (HSNI) Key Developments
Liberty Interactive In Bid To Acquire Shopping Channel
Jul 10 15
Liberty Interactive Corporation (NasdaqGS:QVCA) reportedly is seeking acquisition of The Shopping Channel from Rogers Communications Inc. Rogers Communications Inc. (TSX:RCI.B)has put The Shopping Channel up for sale and received interest from foreign buyers for the television asset that may fetch over CAD $300 million, according to three people familiar with the matter. Rogers Communications, which started the process about six weeks ago, has received the first round of bids and is currently lining up second round bids, the sources said. Liberty Interactive is one of the bidders, said one of the sources. Other interested parties could include U.S. home shopping channel operators HSN, Inc. (NasdaqGS:HSNI) and EVINE Live Inc. (NasdaqGS:EVLV) as well as private equity firms. Rogers Communications could still decide not to go ahead with the sale if the economics were not favorable, the sources said. While several foreign players have shown interest, Canadian regulations could block a sale of a controlling interest in the asset to a foreign entity, said multiple sources familiar with the matter. One source familiar with the asset said a foreign buyer could acquire a majority equity stake in the asset, so long as a Canadian entity is deemed to have majority voting control in the asset, and as long as the operating entity in Canada is headed by a Canadian. A Rogers Communications spokeswoman declined to comment. Liberty, HSN and EVINE were not immediately reachable for comment.
HSN Inc. Plans to Close Distribution Center in Roanoke, Virginia
Jun 17 15
HSN Inc. will close a distribution center in Roanoke, Virginia, eliminating about 350 positions at the center. The shutdown, scheduled to begin in April 2016, stems from continuing evolution in the retail industry and increased customer demands. The Roanoke facility cannot accommodate the expanding needs of HSN's distribution network and the retailer's plans for fulfillment automation. The Roanoke operations will move to an HSN distribution center in Piney Flats, Tennessee.
HSN, Inc. Plans to Consolidation of Two of its Distribution Centers in 2016
Jun 16 15
HSN, Inc.'s supply chain optimization initiative designed to increase operational efficiencies, the company will be consolidating two of its distribution centers in 2016. As a result, on June 16, 2015, the company announced its plan to close the distribution center in Roanoke, VA and move its operations from the Roanoke facility to its distribution center in Piney Flats, TN. The consolidation will involve the eventual elimination of approximately 350 positions at the Roanoke distribution center. The company expects the closure and consolidation efforts to occur in accordance with an eighteen month transition plan and be substantially completed by the end of 2016.
Alliance Data Systems Corporation Expands Relationship with HSN, Inc. to Provide new Branded Credit Card Programs for Select Cornerstone Brands
Jun 3 15
Alliance Data Systems Corporation announced its Columbus, Ohio-based Card Services business, has signed a new multi-year agreement to provide private label credit card services for Cornerstone, a business unit of HSN, Inc. Alliance Data will develop loyalty-driven card programs for five of Cornerstone's seven multichannel brands -- Ballard Designs, Frontgate, Garnet Hill, Grandin Road and Improvements – each incorporating a tailored approach to engage and reward their unique customer base. Alliance Data will leverage its unmatched customer insights, analytics and tools to drive greater brand loyalty and sales for each brand.
HSN, Inc. Presents at Piper Jaffray 35th Annual Consumer Conference, Jun-10-2015 10:15 AM
May 27 15
HSN, Inc. Presents at Piper Jaffray 35th Annual Consumer Conference, Jun-10-2015 10:15 AM. Venue: New York Palace Hotel, New York, New York, United States. Speakers: Judy A. Schmeling, Chief Financial Officer and Chief Operating Officer.