Web sales are up nearly 8% at HSN in Q3
November 6, 2013 03:40 PM
Web sales at TV, web and mobile retailer HSN Inc. grew a modest 7.9% in the third quarter of 2013, ended Oct. 31, to $371.3 million from $344.0 million in the same period in 2012. HSN Inc. includes HSN and catalog and web retailer Cornerstone Brands. The company’s total sales in the quarter grew by only 2.6%, to $798.9 million from $778.8 million in Q3 2012.
Mobile commerce sales accounted for 12% of the company’s total sales in Q3, or $95.9 million, HSN says. It did not break out mobile sales in Q3 2012, but it did report bringing in $167 million in mobile sales for all of 2012.
“In mid-September, we had eclipsed total mobile sales for all of 2012,” CEO Mindy Grossman told investors in an earnings call this morning. “Mobile is also a large part of our customer acquisition effort, with 22% of mobile purchasers in 2013 new to HSN.”
HSN is ranked No. 9 in the 2013 Internet Retailer Mobile 500, up from No. 14 last year.
For the third quarter of 2013 compared with Q3 2012, HSN Inc. reports:
- HSN Inc. operating income rose 23.9%, to $61.1 million from $49.3 million.
- Web sales at the HSN unit grew 6.6%, to $198.2 million from $185.9 million.
- Total sales at HSN rose 2.1%, to $538.6 million from $527.4 million.
- Operating income at HSN increased 1.3%, to $47.6 million from $47.0 million.
- Web sales at the Cornerstone unit grew 9.5%, to $173.1 million from $158.1 million.
- Total sales at Cornerstone rose 7.8%, to $260.3 million from $241.4 million.
- Operating income at Cornerstone grew 487.0%, to $13.5 million from $2.3 million.
For the first nine months of 2013 compared with the same period in 2012, HSN Inc. reports:
- Web sales at HSN Inc. grew 9.0%, to $1.08 billion from $990.5 million.
- Total sales at HSN Inc. rose 4.4%, to $2.38 billion from $2.28 billion.
- Operating income at HSN Inc. increased 11.5%, to $184.9 million from $165.9 million.
- Total sales for the HSN unit grew 1.9%, to $1.61 billion from $1.58 billion.
- Total sales for the Cornerstone unit grew 9.5%, to $769.2 million from $702.6 million.
“We believe we are well positioned as we embark on the holiday season,” Grossman said in the call. “We’re planning a number of unique holiday events. For the first time ever, HSN is leveraging the cumulative power of our diverse portfolio of brands to launch its More The Merrier holiday campaign, which offers customers a curated assortment of highly giftable items at our online gift stores.”