HSNi Net Soars 36.6 Percent for Fiscal Year

HSNiST. PETERSBURG, Fla.-With sales gaining and customer levels reaching a record, HSNi posted net income for its fiscal year ending on Dec. 31 of $178.4 million, up 36.6 percent from fiscal 2012. The company also posted a fourth-quarter increase in net income of 9.8 percent, to $61.6 million.

Net sales for the multichannel retailer were $3.4 billion for the fiscal year, up 4.2 percent, and $1 billion for the quarter, an increase of 3.8 percent. Much of the gain came from HSNi's Cornerstone segment, which posted a pickup of 8 percent in sales.

Mindy Grossman, HSNi's CEO, noted that the company's fourth-quarter digital sales were up 8 percent, including a 59 percent increase in mobile sales. Grossman also said HSNi logged in record customer levels in the quarter, in both the HSN and Cornerstone segments.

Gross margin in the quarter increased 18 basis points to 34.6 percent. Total operating expenses rose 9.8 percent in the quarter and three basis points as a percentage of sales, to 25 percent.

"Throughout 2013, we successfully managed the company to position us for long-term growth," Grossman said. "We kept our focus on the customer, emphasized our unique content and proprietary products, strengthened our digital platform, further leveraged opportunities and synergies across the HSN and Cornerstone brands and returned value to our shareholders by delivering nearly $200 million through share repurchases and cash dividends."

HFN Staff | News & Commentary

HFN provides detailed information on the key home classifications: Housewares, Tabletop, Floor Covering & Rugs, Furniture, Home Textiles, Lighting, Home Decor, Mattresses & Bedding, Gifts, Major Appliances and Consumer Electronics as well as Business, Finance and Retail.

Videos

  • Patti Carpenter Talks Color and its Importance in the Home

    Camera Icon   More Videos

Subscribe to
HFN Omnichannel
Receive the news you need to know about the trends in the industry delivered right to your inbox.

Current Issue

  • HFN cover for September 2017

    HFN's DIGITAL EDITION

    September 2017


    COVER STORY:

    2017 State of the Industry Report
    Cautious Optimism, Mixed Results

    Many expected 2016 would be a banner year, but the political and economic climate softened consumer confidence. It was also a year consumers spent more lavishly on home remodeling rather than decorating.


    ALSO IN THIS ISSUE:

    •  TJX Unveils First U.S. Homesense Store - In a time when retailers are reducing store counts, TJX continues to get physical.
    •   Ikea’s Fluid Spaces - The retailer’s new intros reflect multifunctional rooms.
    •  N.Y. Home Fashions Market Preview - Textile textures get soft and cozy, colors warmer.