Investing Insight
Long/short equity, growth at reasonable price, contrarian, Growth

HSN Inc.: Trading At A Discount To Its Intrinsic Value

HSN Inc. (NASDAQ:HSNI) is a multi-channel retailer that offers services to its customers through various platforms including television, mobile devices, online catalogues and brick and mortar stores. The company has its roots in teleshopping through which it broadcasts a home shopping programming on various national cable and local television networks. The company offers various company-owned and third-party products. The most dominant category of goods sold through its network are home products which contributed to 56.5 percent of net sales of the HSN segment and 71.8 percent of the cornerstone segment.

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Over the last three years, the company has outperformed its peers by achieving a greater growth in net income and revenues and also...

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