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HSN beats Street with Q3 profit, revenue


St. Petersburg, Fla.-- HSN Inc. beat Wall Street expectations for profit and revenue in the third quarter of fiscal 2014. Net income totaled $39.5 million, down 6% from $42.1 million in the prior year period.

A higher effective tax rate helped decrease profits at HSN. Net sales rose 5% to $837.5 million from $798.9 million. Digital sales were up 7% and mobile sales increased 37%, with mobile now representing 16% of HSN’s total business.

“HSNi's strong performance in the quarter was a direct result of the successful execution of our strategic initiatives,” said Mindy Grossman, CEO of HSN. “HSN's unrelenting focus on customer acquisition and assimilation, digital optimization, and the strength of our product portfolio drove overall sales growth of 7% and digital sales growth of 13% (in the HSN segment).”
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