HSN, Inc. (HSNI)

[Penny Roger$]

HSN, Inc. (HSNi), incorporated in May 2008, is an interactive multi-channel retailer. The Company operates two business segments: HSN and Cornerstone. HSNi offers a differentiated retail experience on television, online, via mobile, in catalogs, and in brick and mortar stores. HSN delivers an assortment of products and brand names, and broadcasts live 24 hours a day, seven days a week, 364 days a year, reaching approximately 96 million homes. In addition, HSN offers services, such as HSN Shop by Remote; mobile applications, including HSN apps for iPad, iPhone, Android, and HSN on Demand. Cornerstone consists of home and lifestyle brands, including Frontgate, Ballard Designs, Garnet Hill, Smith+Noble, The Territory Ahead, TravelSmith and Improvements. Cornerstone operates eight separate e-commerce sites, distributes more than 275 million catalogs annually, and has 20 retail and outlet stores.

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