HSN Inc. Reports 3Q Net Sales Up 4% From Prior Year

The retailer recorded sales increases in each of the first three quarters this year.  In the most recent quarter, ended September 30, HSN reported a 3% growth in new customers, a 4% increase in the average customer spend, and a 17% increase in HSN.com sales compared to prior year.  Internet sales now account for 28% of HSN net sales.  In contrast to these positive results, the company is bracing for the deteriorating retail enviornment ahead by reducing the credit it extends to consumers, increasing its reserve for bad debt and “…assessing changes in consumer demand on a daily basis.”  Information about today’s 11 a.m. EST conference call explaining these results in available on the source link.  HSN Inc. Press Release Nov. 6, 2008