Home Shopping Network Hits Record Sales In December
ST. PETERSBURG, Fla., Jan. 5 /PRNewswire/ -- The Home Shopping Network (HSN) announced today its largest month in history as it delivered sales results for December, 1998. Gross sales for the month were in excess of $160 million, representing a strong double-digit increase vs. the same period one year ago.
This is the second consecutive month that Home Shopping has broken sales records. This follows October, 1998, which saw the largest sales day in the Company's history.
''Electronic retailers historically experience a stronger November than December, largely due to holiday shipping deadlines,'' explained Mark Bozek, president of Home Shopping Network. He continued: ''The strength of our December performance speaks not only to a merchandising strategy that amounted to the best gift assortment ever, but is also further proof of consumers' growing acceptance and receptivity of e-commerce. This was the year when more Americans than ever said 'I'll go anywhere but the Mall.'''
Contributing to December's record sales increase were elements of the Network's holiday gift store strategy. Key items included:
Barbie: Home Shopping sold 100,000 Barbie dolls during the month, more than half during The Barbie Spectacular, the single biggest Barbie event in the Company's history
Computers: HSN sold and shipped over $4.3 million of computers during the month of December
Jewelry: more than 775,000 pieces including 350,000 rings, 300,000 necklaces and 125,000 pairs of earrings
Beanie Babies: more than 550,000 sold in one month
Cookware: 280,000 pieces were sold, as Home Shopping continues as America's largest seller of stainless steel non-stick cookware
Telescopes: a key gift item this holiday season, Home Shopping sold more than 15,000
Vitamins: Home Shopping took 120,000 orders for vitamins as consumers resolved to be healthier in 1999
Home Shopping Network (www.hsn.com), a USA company (Nasdaq: USAI - news), pioneered the electronic retailing industry in 1977. Its 24-hour programming reaches 70 million households via cable, broadcast television and satellite dishes. The Company is America's largest seller of gemstones, designer collectible dolls and stainless steel non-stick cookware. Home Shopping Network holds interests in shopping channels in Germany and Japan and recently launched Home Shopping en Espanol, a joint venture with Univision. The Company also announced the formation of a joint venture with Scandinavian Broadcasting System to create and operate HSN-SBS Italia, a live television shopping service in Italy.
SOURCE: Home Shopping Network
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