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HSN reports quarterly sales growth
ST. PETERSBURG, Fla. -- HSN Inc. reported that total net sales for its first quarter grew 6% over the prior year to $724 million. Net sales at its HSN business increased 1% to $526.2 million, which included 7% sales growth at HSN.com. Cornerstone's net sales increased 20% to $197.8 million with e-commerce sales growth of 23%.
Adjusted EPS increased 14% to 41 cents compared with 36 cents in the prior year, the company reported. GAAP diluted EPS increased 13% to 34 cents compared with 30 cents in the prior year.
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Amazon gets a new fashion "habit"
SEATTLE -- Amazon.com continues to grow beyond its origins as an online bookstore and is now expanding its apparel offerings with the launch of a new membership-only website, Myhabit.com.
According to the company, the website, of which member ship is free, will offer up to 60% off hand-picked styles from the most sought after brands. Other features of the site include free shipping and returns, upscale photography and 360-degree views of the clothing on live models.