HSN profit rises in Q1
St. Petersburg, Fla. -- Multichannel shopping retailer HSN Inc. reported Wednesday that net income for the quarter ended March 31 climbed 29% to $26.2 million, from $20.3 million in the year-ago period.
Results were boosted by robust sales from its Cornerstone unit, which includes banners such as Ballard Design, Frontgate and TravelSmith.
Revenue overall rose 5% to $747.3 million. Cornerstone saw an 11% sales rise to $205.4 million. HSN segment sales were up 3% to $541.9 million.