Record digital and mobile sales propelled HSN Inc. to a better-than-expected 10% increase in sales in the fourth quarter.
The company reported profit of $68.3 million, or $1.28 a share, up from $61.6 million, or $1.14 a share, a year earlier.
"HSNi's performance gained momentum throughout 2014, culminating in strong customer growth and record digital and mobile sales," said Mindy Grossman, CEO of HSN Inc. "In the fourth quarter, HSNi delivered net sales growth of 10% and EBITDA growth of 7%, which clearly reflects our ability to differentiate in a competitive environment. Digital grew 12%-reaching a major milestone of representing over half our business-and mobile remains our fastest growing platform with growth of 40% in the quarter. These results demonstrate how we are capitalizing on our unique position at the intersection of technology, media and retail and the power of leveraging content across our multiple platforms to drive commerce."
HSN said electronics, home design and culinary units led the sales growth. And the company said HSN’s mobile platform grew 40% for the period.
HSN Inc. sells direct-to-consumer on TV, online, via mobile devices, in catalogs, and in brick and mortar stores.