Martha Stewart Losses Grow

03 August 2007

NEW YORK: Martha Stewart Living Omnimedia, the eponymous exploitation vehicle driven by the USA's favourite domestic diva, has reported a wider second quarter loss to $6.74 million (€4.9m; £3.3m), compared with $1.17m a year earlier. Overall sales for the quarter rose 7.7% to $73.4m.

The merchandizing and media group says the loss is the result of a website revamp and a slide in sales of Martha Stewart Everyday products at retailer Kmart.

Promises president/ceo Susan Lyne: "We're on track to return to profitability this year and foresee a strong second half."

The company is hoping for a strong performance from the summer launch of Martha Stewart Collection home products sold exclusively at Macy's stores and on the retailer's website.

In addition, MSLO says it is reallocating investment in publishing to the web to improve profits.

Data sourced from New York Times / Bloomberg; additional content by WARC staff