HSNi Net Rises 3 Percent in Fourth Quarter
February 25, 2011,
ST. PETERSBURG, Fla.-With the company's Cornerstone unit driving sales gains, fourth-quarter net income for HSNi rose 3 percent to $77.4 million.
The Cornerstone business posted a net sales gain of 23 percent in the quarter, helping to boost HSNi's overall net sales by 9 percent to $915.2 million. Mindy Grossman, HSNi's chief executive officer, said Cornerstone's Frontgate, Ballard Designs and Garnet Hill brands were particularly strong performers in the quarter. Net sales in the HSN segment rose 4 percent, helped by a 9 percent pickup in sales at hsn.com.
Other Articles By Author
Macy’s Discusses Virtual Reality Test at HFN’s Omnichannel Summit
HFN's DIGITAL EDITION
One Kings Lane Flashes Forward
Formerly a flash-sale only website, One Kings Lane—now under the ownership of Bed Bath & Beyond—evolves into a lifestyle retailer with a new physical presence.
ALSO IN THIS ISSUE:
- HFN Tech & Omnichannel Study- Although e-commerce shopping is increasing dramatically among consumers, home retailers lag in their current and future tech investments and implementation.
- Market Previews: High Point & Tabletop- The newest collections and influencer trends emerge in our High Point Market and N.Y. Tabletop Show special sections.