ST. PETERSBURG, Fla. HSN Inc. reported that net sales for the third quarter grew 10% to $708.4 million over the prior year. Net sales for HSN increased 6% which included 10% sales growth at HSN.com. Cornerstone's net sales increased 23% to $214.7 million with Internet sales representing 56.9% of its net sales.
Adjusted EPS was 31 cents compared with 32 cents in the prior year. GAAP diluted EPS was 25 cents compared with 29 cents in the prior year.
"HSNi's net sales growth of 10% reinforces the strength of the HSN and Cornerstone brands. Our efforts to reach customers across multiple channels continue to be successful and contributed to an e-commerce net sales gain of 15% in the quarter," said HSNi CEO Mindy Grossman.