HSNi profit rises
May 4, 2011,
Net income for the quarter ended March 31 was $20.3 million, or 36 cents per share, compared to $17.7 million, or 31 cents per share, during the year-ago period.
Total sales rose 6% to $724 million, driven primarily by a 20% jump in sales at its Cornerstone division, which includes Garnet Hill, Ballard Designs, Frontgate, Improvements, Smith + Noble, The Territory Ahead and TravelSmith.
Cornerstone's sales rose to $197.8 million, while sales in the HSN division rose 1% to $526.2 million.
Company ceo Mindy Grossman told analysts during this morning's quarterly conference call that Internet sales now account for 58% of the company's business.
Related Content By Author
TEN Collection Wows High Point Market
Home Textiles Today eDaily
Most Viewed Articles
See the November 2017 issue of Home Textiles Today. In this issue, we look at Complex Colors, Complex Times--Trend forecasters and interior designers weigh in on 2018 palettes and motifs. Other articles include: Data: Exclusive HTT soft window research; Innovation: Material Changes conference preview; Country report: India invests in the future and Fabrics: Showtime preview.