Cutting down catalogs to aid standalone HSN  

New York – “HSN continued to exhibit strong momentum,” said Barry Diller, chairman and ceo of Home Shopping Network parent company IAC regarding results for the first quarter ended March 31.

“With this quarter's results, it couldn't be clearer that we are on the right course in separating IAC into five distinct public entities,” Diller said of the planned corporate spinoff/breakup. The company gave results in combined form and as they would appear post-spinoff.

The retail division, which will be named HSN (and will also include the IAC catalog businesses), posted first quarter sales of $676.9 million, up 2% over the same period last year. Operating income of $20.2 million showed a year-to-year 42% drop, however.

Profits at HSN are being held back by declines in the catalog segment, the company said, noting, “Online sales continued to grow at a double digit rate in the first quarter.” Catalogs, meanwhile were reduced by 15% to 87.2 million mailed in the quarter.

Home & Textiles Today Staff | News & Commentary

 Home Textiles Today is the market-leading brand covering the home and textiles markets, offering a comprehensive package of print and online products. Home & Textiles Today provides industry news, product trends and introductions, exclusive industry research, consumer data, store operations solutions, trade show news and much more.

Featured Video

  • Live From New York: Fashion Comes Across the Pond

    Camera Icon More Videos

Subscribe to
Home & Textiles Today eDaily
Receive the news you need to know about the trends in the industry delivered right to your inbox.


HTT Current issue for September 2017

See the September 2017 issue of Home & Textiles Today. In this issue, we look at the Attack of the Killer Third Tier: Monster off-pricers are climbing to the top of the food chain, plus New Products: 40 pages of new products debuting at the New York Home Fashions Market; Home Stores: TJX unveils first U.S. HomeSense store; Clicks to Bricks: Boll & Branch moves from digital to physical retailing; and much more... See details!