HSN, Inc. (NASDAQ:HSNI) Files An 8-K Results of Operations and Financial Condition

HSN, Inc. (NASDAQ:HSNI) Files An 8-K Results of Operations and Financial Condition
Item 2.02. Results of Operations and Financial Condition.

Story continues below

In its press release attached as Exhibit 99.1 and incorporated herein by this reference, the Company announced sales and earnings information for the first quarter.

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On April 21, 2017, Mindy Grossman, Chief Executive Officer and a member of HSN, Inc.’s Board of Directors gave notice of her resignation as Chief Executive Officer and a member of the Board of Directors. The Board of Directors has accepted her resignation effective May 24, 2017. Ms. Grossman will not be entitled to any severance benefits as a result of her resignation.

Ms. Grossman will not stand for election at the Annual Meeting of Shareholders to be held on May 24, 2017, and concurrent with her resignation and the Annual Meeting of Shareholders the Board of Directors has decreased the size of the Board to nine. Accordingly, Ms. Grossman is removed as a nominee for election to the Board of Directors and any references to her election in the Company’s proxy statement dated April 10, 2017 (the “Proxy Statement”) is hereby deleted. Additionally, any votes received for Ms. Grossman will not be counted at the Annual Meeting of Shareholders on May 24, 2017. Other than Ms. Grossman, the nominees named in the proxy statement will stand for election at the Annual Meeting.

In the interim, Ms. Grossman will work with senior management and the Board to ensure a smooth transition. The Board has retained a national search firm to assist with the search for a successor that will include both internal and external candidates. In addition, the Board has established an Office of the Chief Executive to oversee the company’s day-to-day operations until a successor is named. The Office of the Chief Executive will consist of Rod R. Little, William C. Brand and Judy A. Schmeling. Mr. Little will be acting as the company’s interim principal executive officer. For more information about the individuals who will comprise the Office of the Chief Executive, please refer to the Proxy Statement under the heading “Management,” which is incorporated herein by this reference.

A copy of the press release announcing Ms. Grossman’s resignation is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

99.1 Press Release dated April 26, 2017.


HSN, Inc. is an interactive multi-channel retailer. The Company markets and sells a range of third party and private-label merchandise directly to consumers through various platforms, including television home shopping programming broadcast on the HSN television networks; catalogs, comprising the Cornerstone portfolio of print catalogs; Websites, which consist of HSN.com, joymangano.com and over seven branded Websites operated by Cornerstone; mobile devices; retail and outlet stores, and wholesale distribution of certain products to other retailers. It operates through two segments: HSN and Cornerstone. HSN offerings comprise jewelry, fashion (apparel and accessories), beauty and health (including beauty, wellness and fitness), and home and other (including home, electronics, culinary and other). Merchandise offered by Cornerstone consists of home furnishings (including indoor/outdoor furniture, home decor, tabletop, textiles and other home related goods), and apparel and accessories.

HSN, Inc. (NASDAQ:HSNI) Recent Trading Information

HSN, Inc. (NASDAQ:HSNI) closed its last trading session up +0.40 at 36.50 with 372,820 shares trading hands.

An ad to help with our costs