HSN Fourth-Quarter Results Improve
The home shopping company’s revenue rose 9% in the latest period.
NEW YORK – Home shopping firm HSN Inc. on Wednesday reported a stronger-than-expected fourth-quarter profit, boosting its shares in early trading.
The stock rose in early trading, but closed down 0.8 percent at $30.25.
The company posted a profit of $41.3 million, compared with $39.4 million in the same period a year earlier and ahead of Wall Street estimates. Revenue rose 9 percent to $915.2 million, also exceeding projections.
"Our strategic efforts to create a multichannel experience resulted in e-commerce sales growth of 15 percent for the company," said HSN CEO Mindy Grossman. "In 2011, we are focused on giving customers even more reasons to deepen their engagement with our brands.”