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BBC exec joins HSN, Inc. board

BY CSA STAFF

ST. PETERSBURG, Fla. — Interactive multichannel retailer HSNi has appointed BBC executive Ann Sarnoff to its board of directors.

Sarnoff will also serve on HSNi’s Compensation and Human Resources Committee. Her appointment expands the number of board members to ten.

Sarnoff has been COO of BBC Worldwide Americas since 2010, and is responsible for the company’s North American businesses. Prior to joining the BBC, Sarnoff was president of Dow Jones Ventures and SVP of strategy for Dow Jones & Company. She also served for two years as COO of the Women’s National Basketball Association and spent ten years at Viacom Inc., where she ultimately became COO for VH1 and Country Music Television.

"We are extremely pleased that Ann will join our board and leverage nearly 20 years of extensive business experience in media and entertainment," said HSNi chairman and former Sears CEOArthur Martinez. "Ann’s expertise in developing and growing businesses and brands, in addition to her proven success as a highly accomplished leader, makes her a valuable addition to our board."

"I look forward to working with Ann and leveraging her unique experiences to assist us in executing against our strategic growth initiatives of creating immersive experiences, offering differentiated products and leveraging technology to build relationships, not just transactions," stated Mindy Grossman, CEO of HSNi.

Sarnoff is a member of the executive advisory board of the McDonough School of Business at Georgetown and is a member of the boards of Women’s Forum of New York and the Harvard Business School Women’s Association of New York. She earned a bachelor of science from Georgetown University and a master’s in business administration from Harvard Business School. She was named one of the Most Powerful Women in Cable in 2011 and 2012 by CableFAX Magazine.

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FINANCE

Bed Bath & Beyond Q3 profit beats, sales disappoint

BY Katherine Boccaccio

Union, N.J. — Bed Bath & Beyond Inc. reported Wednesday that profit for the quarter ended Nov. 24 rose almost 2% to $232.8 million, from $228.5 million last year, edging Wall Street expectations.

Revenue increased 15% to $2.7 billion, just missing analysts’ forecasted $2.73 billion in revenue. Same-store sales rose 1.7%.

The retailer said it estimates Hurricane Sandy lowered comps by about 0.9% during the period.

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OPERATIONS

Poll: 132 million have yet to finish holiday shopping

BY Katherine Boccaccio

Yonkers, N.Y. — Poll results released Thursday by Consumer Reports found that, with only five shopping days left until Christmas, 68% of shoppers – or about 132 million Americans – have yet to finish their gift shopping.

Seventeen million are estimated to hit stores on Christmas Eve.

When asked which gift they were most likely to grab at the last-minute, 62% of shoppers said they would go with a gift card or gift certificate, 27% would opt for cash, while 15% would select liquor. Lottery tickets and candy would be a last-minute choice for 12% respectively, while 4% would issue an IOU or gift-to-be-determined.

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