HSN displays strong Q3 performance
St. Petersburg, Fla. – HSN, Inc. (HSNi) reported impressive financial results for the third quarter of fiscal 2013. Net income soared about 137% to $42.05 million, compared to $17.69 million in the same quarter a year prior.
In addition, net sales grew almost 3%, to $789.9 million from $778.8 million. The elimination of a roughly $18 million loss related to debt extinguishment recorded in the third quarter of fiscal 2012 drove much of the quarterly net income growth. Mindy Grossman, CEO of HSN, also cited digital and mobile growth as boosting the company’s overall performance.
"HSNi has built a powerful and diverse portfolio of brands and products enabling us to capitalize on consumer trends, manage marketplace dynamics and position the company for long-term success," said Grossman. "During the third quarter, this strategy resulted in record customer levels at HSNi, an increase in digital penetration of 230 basis points, including strong growth in mobile, which now represents 12% of our total business, and Adjusted EPS growth of 19%."
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Deloitte: Holiday shoppers use smartphones, stay local
New York — Increasing smartphone ownership is taking more consumers down the digital shopping route, while many shoppers plan to frequent local small businesses when visiting stores this holiday season. According to the Deloitte Annual Holiday Survey overall smartphone ownership has risen to 61% of respondents from 42% two years ago.
Women, younger generations and households earning less than $100,000 annually showed the most significant leaps in smartphone ownership, expanding the base of shoppers that retailers can access via mobile devices. For example, nearly six-in-10 (59%) of women surveyed own smartphones, up from 46% last year, and 79% of consumers ages 18-24 own a smartphone.
Among smartphone owners, nearly seven-in-10 (68%) plan to use their devices for holiday shopping. These consumers will primarily use smartphones to search for store locations (56%), check and compare prices (54%) and obtain product information (47%).
Consumers that use smartphones to assist in holiday shopping plan to spend 27% more on holiday gifts than non-smartphone owners. The survey also found a significant number of consumers expecting to shop using their tablets. Among the 38% of respondents that own tablets, nearly two-thirds (63%) indicate they plan to use it for holiday shopping this year, with "shop or browse online" ranking as the top activity.
This year, two-thirds (66%) of shoppers plan to shop locally at small businesses, independent retailers or boutique shops which are not part of national chains. The survey indicates that one-third (34%) of consumers’ budgets will be spent at local stores. Among the reasons for shopping locally, consumers cite desire to support the local economy (60%), to find one-of-a-kind gifts (53%) and because it is more convenient (44%). Nearly one-third (30%) report having greater loyalty for the local store compared to national chains.
More than half (54%) of shoppers say that knowledgeable store associates will lead them to making an in-store purchase, and 32% of shoppers feel store associates can provide customers a better shopping experience when equipped with the latest mobile technologies. Yet, nearly six-in-10 (59%) shoppers feel they are better connected to consumer information, including coupons, competitive pricing and product availability, than store associates.
Retailers also benefit from providing shoppers with self-help technology in the store. Nearly six-in-10 (58%) of shoppers will use self-help technologies, the most common being price checkers (60%) and self-checkout payment lanes (57%).
"Tablets are a two-way street for retailers," said Alison Paul, vice chairman, Deloitte LLP, and retail & distribution sector leader. "They have opened up an entirely new consumer touchpoint, where shoppers can view multiple retailers’ products regardless of their location, from their couch to the point of purchase. Retailers can also put tablets to work in their stores, providing both their sales team and customers with a broader lens into merchandise selection. Now that the majority of consumers also own smartphones, these two devices have altered the way they interact with a brand, while also yielding a higher spend per customer."
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BJ’s prepares Black Friday week, Facebook coupons
Westborough, Mass. — BJ’s Wholesale Club is spreading its Black Friday deals across an entire week (Sunday, Nov. 24 through Sunday, Dec. 1), excluding Thanksgiving on Thursday, Nov. 28. The retailer says it is offering more than twice as many Black Friday deals this year as it did last year.
BJ’s will also launch its first exclusive Facebook coupon program with the BJ’s Members Choice Campaign. Beginning Friday, Nov. 22, people will be able to cast a vote each day for five days, choosing between two featured products. There will be deals on electronics on two days, a deal on toys, on gifts, and on jewelry. BJ’s will email all of those who voted on a deal a printable coupon for the winning item. The final day of voting will be Tuesday, Nov. 26. To participate, people should visit the BJ’s Facebook page.
"The BJ’s team has outdone itself this year, creating the best Black Friday line up that I’ve seen in years, and I’m sure that the products will delight our members," said Laura Sen, president and CEO of BJ’s Wholesale Club. "While BJ’s offerings will bring many people into the clubs during the Holiday Season, we are pleased to offer Black Friday values throughout the Thanksgiving week. And, I’m proud that BJ’s Clubs are, once again, closed on Thanksgiving, allowing our team members to enjoy the holiday. We always must balance what is best for our Team Members with our sales goals."
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