HSNi Trims Cost, Produces 2Q Profit

摘要

Through cost cutting and inventory control, HSNi swung to a second-quarter profit of $13.6 million following a $249.8 million loss in the year-ago period. Luxury and home sales remain weak, executives said during last week's quarterly conference call, but there were signs of improvement in the Cornerstone catalog/ internet division, particularly at Ballard's, Garnet Hill and Travel Smith. Chief executive officer Mindy Grossman characterized the Home Shopping Network's recent rollout of textiles, furniture, rugs, accessories and lighting by designer Carleton Varney as "a great success."