November 2, 2011, 4:31 PM

The web was the growth channel for HSN in Q3

E-commerce grew 16% while total sales increased 6%.

Mark Brohan

Research Director

Lead Photo

Sales, including online, increased across the board for TV and web retailer HSN Inc. in the third quarter.

For the quarter ended Sept. 30, HSN, No. 26 in the Internet Retailer Top 500, reported:

  • E-commerce increased 16.1% to $308.4 million from $265.7 million in Q3 2010.
  • Total sales grew year over year 6% to $751.2 million from $708.4 million.
  • Total sales for the HSN brand grew year over year 3.9% to $513.0 million from $493.7 million.
  • Total sales for the Cornerstone brand grew year over year 5.1% to $178.5 million from $169.9 million.
  • Average ticket was $63.82.
  • Net income increased 63.1% to $24.3 million from $14.9 million in the third quarter of 2010.

Internet Retailer calculates the web accounted for 41% of total sales compared with 38.8% in the prior year.

“HSN delivered another quarter of strong sales,” CEO Mindy Grossman says. “We achieved these results while executing on a number of significant initiatives, including new launches, events and expansion of our digital efforts.”

For the first three quarters HSN reported:

  • E-commerce increased 15% to $906.4 million from $788.3 million in the first three quarters of 2010.
  • Net income increased 33.9% to $76.6 million from $57.2 million in the first three quarters of 2010.
  • Total sales grew year over year 6.7% to $2.22 billion from $2.08 billion.
  • Total sales for the HSN brand grew year over year 2.7% to $1.52 billion from $1.48 billion.
  • Total sales for the Cornerstone brand grew year over year 5.1% to $529.4 million from $503.7 million.

Internet Retailer calculates the web accounted for 40.8% of total sales compared with 37.9% in the prior year.

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