HSN Inc. reported an increase in sales by 5% in the year to $ 855.2 million in the second quarter of 2014, reports Rapaport. Net sales of HSN increased by 6% to $ 556.5 million, including an 11% increase in online sales and a 4% increase in net sales of Cornerstone to $ 298.7 million.
HSNi reports that purchases made with mobile devices , accounted for 15% of the company's total sales. The company's profit for the reporting period fell by 5% to $ 40.9 million, or 76 cents per share.
By categories of products during the reporting period, HSN registered an increase in sales of cosmetics, home furnishings, health and culinary products, while sales of electronics and jewelry slowed. The company's gross profit margin fell by 30 basis points to 35.3%.