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HSN's sales edge up in first quarter, suppressed by bad weather

Sales for the multichannel retailer HSN Inc. rose 1 percent in the first quarter of 2014 compared with the same period last year. The tepid result was mostly because of bad weather in many parts of the country and weak sales in women's apparel. Digital sales were up 6 percent.

The St. Petersburg-based home shopping network reported Thursday that sales were $777.4 million for the quarter, compared with $772.7 million a year earlier. Adjusted net income was down 14 percent, to $27.3 million from $31.6 million.

Sales for HSNi's main segment, HSN, were down 1 percent, to $544.5 million from $550.1 million a year earlier. Sales for its Cornerstone segment, which includes Ballard Designs, Chasing Fireflies, Frontgate, Garnet Hill and other online and catalog brands, were up 5 percent, to $232.9 million from $222.5 million a year earlier.

HSN's sales edge up in first quarter, suppressed by bad weather 05/01/14 [Last modified: Thursday, May 1, 2014 5:23pm]
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