HSN Acquires Chasing Fireflies
Interactive multichannel retailer HSN, Inc. (Nasdaq: HSNI) announced today that it has acquired Chasing Fireflies LLC through HSNI's operating segment, Cornerstone Brands. The acquisition allows HSNI to participate in a fast-growing business with unique and proprietary products, strong customer loyalty and high digital penetration.
Chasing Fireflies generated net sales of approximately $39 million in fiscal 2011. HSNI expects this acquisition to be accretive to earnings in the current fiscal year.
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