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

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.



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