HSN Acquires Chasing Fireflies

Interactive multichannel retailer HSN, Inc. 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.