HSN Inc. increases net income, sales during Q4 and fiscal 2013
St. Petersburg, Fla. – HSN Inc. reported gains in net income and sales during the fourth quarter and fiscal year 2013, compared to the same periods a year earlier. During the quarter, HSN Inc.’s adjusted net income increased 7% to $59.9 million from $56 million, while net sales increased 4% to $1.02 billion from $982.9 million.
For the full fiscal year, HSN Inc. reported adjusted net income of $173 million, up 15% from $153 million, and net sales of $3.4 billion, a 4% increase from $3.26 billion. Mindy Grossman, CEO of HSN Inc., credited strong digital and mobile sales growth for much of the company’s financial performance.
"Throughout 2013, we successfully managed the company to position us for long-term growth,” said Grossman. “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. During the fourth quarter, we achieved 4% sales growth and a digital sales increase of 8%, including mobile growth of 59%.”