* First-quarter sales for HSNi’s Cornerstone catalog division rose 6%, its first year-over-year quarterly sales increase since the fourth quarter of 2007. The growth, to $164.3 million for the three months ended March 31, came despite a 3% cut in catalog circulation. The Internet accounted for 56.6% of sales, down from 57.4% a year ago. Cornerstone’s brands include home decor titles Ballard Designs and Frontgate and apparel books The Territory Ahead and TravelSmith.
HSNi’s other division, home-shopping channel and e-commerce site HSN, enjoyed a 9% rise in first-quarter sales, to $518.9 million. Sales at HSN.com climbed 15%. All told, HSNi more than tripled its net income for the quarter, from $3.0 million last year to $17.7 million.
* Like-for-like direct sales at outdoor gear cataloger/retailer Cabela’s for the first quarter were $222.7 million, up 2.1% from the previous first quarter. It was the division’s first revenue increase in six quarters. The company attributed the growth to stronger Internet sales, and to further leverage the channel it will unveil an enhanced Website this summer. In addition, Cabela’s will continue to reduce the page counts of its catalogs while increasing total circulation.
Overall, adjusted for the sale of its Van Dyke’s taxidermy business and Wild Wings catalog late last year, Cabela’s reported a 5.1% rise in total first-quarter revenue, to $559.6 million for the three months ended April 3. Net income jumped 57.8%, to $8.1 million.
* Cataloger/retailer Golfsmith International reported a 13.5% decline in first-quarter catalog and online sales. Total revenue for the three months ended April 3 was $67.6 million, down from $68.8 million for the first quarter of last year. The company shaved its net loss from $5.1 million a year ago to $4.8 million.
