5/02/13

TV and web retailer HSN grows online sales 9.6% in Q1

The web accounts for 44.6% of total sales, the retailer reports.

Bill Siwicki , Managing Editor, Mobile Commerce

The web accounted for almost all of the growth in the first quarter for TV and web retailer HSN Inc.

Web sales for Q1 2013 reached $344.6 million, up 9.6% from $314.4 million in Q1 2012, the company reports. Total sales hit $772.7 million in Q1 2013, up 4.7% from $737.9 million in Q1 2012. The web accounted for 44.6% of total sales and 87% of the sales growth in the first quarter.

During the first quarter of 2013, HSN Inc. repurchased approximately 1.2 million shares of its common stock at a cost of $65.3 million, or an average cost of $53.80 per share. From inception of the share repurchase program in September 2011 through May 1, 2013, HSN Inc. has repurchased 8.2 million shares at a cost of $353.5 million, or an average cost of $43.03 per share.

Effective May 2, HSN Inc.’s board of directors approved a quarterly cash dividend of $0.18 per share payable June 19, 2013, to shareholders of record as of June 5, 2013.

HSN is No. 24 in the new Internet Retailer Top 500 Guide.

 

Topics:

Cornerstone, e-commerce earnings, financials, HSN, Q1 earnings, Top 500, TV retail

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