Martha Stewart Company Bounces Back from Jail Fallout

02 March 2007

NEW YORK: Martha Stewart Living Omnimedia, the eponymous exploitation vehicle fueled by America's queen of tasteful living, posted fourth quarter profits up year-on-year by 558.6%, to $16.2 million (€12.24m; £8.26m) from $2.8m. For the full year to December 31, the company's overall loss narrowed from $78.3m in 2005 to $2.8m.

MSLO's fortunes plunged deep into the red when Martha Stewart was jailed in 2004 on charges of obstructing justice and securities fraud. Since her release in March 2005 the company has undergone a slow but accelerating process of recovery.

As president/ceo Susan Lyne put it on Wednesday: "We head into 2007 with tremendous confidence in our strategic direction, creative vitality and ability to execute on plan."

Data sourced from BBC Online (UK); additional content by WARC staff