Peck says it is taking Mindy Grossman, who runs IAC’s retailing arm, “longer than she originally had hoped” to turn around HSN.
Peck says the stock could react negatively to second quarter earnings, but notes that the stock is down 20% since reporting first quarter results. But he also says a pullback “could present an interesting entry point for investors with longer time horizons.” He also thinks that “deal talk on HSN could pick up” after a tough quarter.
For the quarter, the Street expects revenue of $1.62 billion, operating income beforeamortization of $150 million and EPS of 32-33 cents a share.
IACI 1-yr chart:
