Home Shopping Network operator HSN cut about 250 jobs in the fourth quarter and nixed merit increases this year, per Reuters. HSN also reported a loss of $2.15 billion, or $38.29 a share, versus a
profit of $56.5 million, or $1 a share, in the year-ago quarter. Net sales fell 11%. CEO Mindy Grossman said in a conference call that sales of fashion and jewelry items fell, but electronics and
fitness did better.
