Martha merchandise holds up
Martha Stewart Bedding
Source: By Home Textile Today
NEW YORK - Merchandising was the lone division at Martha Stewart Living Omnimedia to post a sales increase during the fourth quarter, the company reported today.
Revenues were up 5.5 percent to $23.7 million - due in part to an increase in Kmart's minimum royalty payments and $1.6 million in royalties related to the dissolution of the Martha Stewart Signature flooring program. A new 5-star bedding program will roll out at Kmart for spring, and the brand will launch RTA furniture in June, according to Susan Lyne, president and CEO.
On the whole, the $7.3 million fourth quarter loss was less than the company had expected. Total sales were down 15 percent, to $60.2 million.