Posts Tagged ‘HSN fourth-quarter earnings’

HSN To Release Fourth-Quarter Results Feb. 24

January 28, 2016

HSN will release its fourth-quarter and 2015 results Feb. 24, the home shopping network said Wednesday.

The earnings will be reported at 8 a.m. before the market opens. CEO Mindy Grossman and Judy Schmeling, chief operating officer and chief financial officer, will hold a conference call at 9 a.m. to review the results.

Those interested in participating in the conference call should dial 877-307-0246 or 224-357-2394 at least five minutes prior to the call.

There will also be a simultaneous audio webcast available via the company’s website at

A replay of the conference call can be accessed until March 9 by dialing 855-859-2056 or 404-537-3406, plus the pass code 29819564 and will also be hosted on the company’s website for a limited time.

HSN Posts Slim 2 Percent Revenue Gain In Fourth Quarter

February 21, 2014

HSN ended last year with a slight increase in revenue, posting a 2 percent gain in net sales in the fourth quarter, to $697.4 million, the home shopping network said Thursday.

“Sales grew in health, beauty and apparel & accessories, offset by lower sales in jewelry, culinary and electronics,” HSN said in a press release. “Net sales were favorably impacted by lower than historical returns in many product categories. The average price point increased 1 percent while the units shipped remained unchanged.”

For the full year 2013, HSN’s net sales were up 2 percent, to $2.31 billion.

“Throughout 2013, we successfully managed the company to position us for long-term growth,” HSN CEO Mindy Grossman said in a canned statement.

“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,” she said.

In the fourth quarter, HSN’s digital sales increased 7 percent, with penetration rising to 39.5 percent.

Gross profit rose 3 percent to $230.6 million. Gross margin increased 20 basis points to 33.1 percent, primarily due to lower inventory reserves. Operating expenses (excluding non-cash charges) increased 1% to $142.6 million and were 20.4 percent as a percentage of net sales compared to 20.6 percent in the prior year.

Adjusted EBITDA increased 5 percent to $88.1 million compared to $84.0 million in the prior year primarily due to the 2 percent increase in net sales and the 20 basis point increase in gross margin, partially offset by an increase in operating expenses.

Operating income saw a 4 percent gain, to $77.9 million compared to $74.7 million in the prior year.

For HSN Inc., which includes the home shopping network and the Cornerstone unit, net sales grew 4 percent over the prior year to $1 billion.

“During the fourth quarter, we achieved 4 percent sales growth and a digital sales increase of 8 percent, including mobile growth of 59 percent,” Grossman said. “Adjusted EPS (earnings per share) growth for the quarter and year were 11 percent and 19 percent, respectively. We also ended 2013 with record customer levels at both HSN and Cornerstone.”

Mindy, Mindy: HSN Reports Flat Sales In the Fourth-Quarter Last Year

February 24, 2012

It looks like the fourth quarter last year wasn’t just tough for ShopNBC, which saw a dougle-digit decline in sales. It was no picnic for HSN, either.

Both HSN and QVC reported their fourth-quarter earnings Thursday. HSN’s sales were basically flat, only up a hair, o.4 percent, to $693.2 million. In contrast, QVC saw a 4 percent increase, to $1.8 billion.

HSN’s explanation for its lack of revenue growth: “Sales grew primarily in electronics and home design, offset by sales declines in fashion and wellness. The average price point decreased 2 percent and the units shipped increased 4 percent primarily due to mix shifts within categories.”

For the full year 2011, HSN’s net sales increased 2 percent, to $2.2 billion. Domestic QVC’s revenue increased 3 percent, to $$.41 billion.

In the fourth quarter, HSN’s gross profit increased 3 percent to $211.9 million. Gross profit margin improved 90 basis points to 33.2 percent from 32.3 percent. The margin increase was primarily attributable to decreased inventory reserves and liquidation charges, lower inbound freight costs, and lower transaction costs; partially offset by changes in product pricing and mix.

Adjusted EBITDA increased 6 percent to $79.5 million compared to $75.1 million in the prior year. The increase was due to the increase in gross profit, partially offset by an increase in operating expenses. Operating income increased 9 percent to $70 million compared to $64.2 million in the prior year.

HSN Inc. includes both HSN, the home shopping network, and Cornerstone. HSNi’s net sales grew 4 percent in the fourth quarter over the prior year, to $955 million.

“HSNi’s positive performance for the quarter and the year was a result of maintaining our focus on expanding our digital presence, deepening customer engagement and emphasizing customer acquisition and retention,” HSNi CEO Mindy Grossman said in a canned statement. “HSN ended 2011 with its largest customer file growth in four years and Cornerstone’s 12-month house file was at record levels for Frontgate, Ballard Designs and Garnet Hill. HSNi’s digital growth of 13 percent for the quarter resulted in our highest digital penetration to date of 45 percent.”