Trial's Impact on 'Martha' Brand Hits Revenues at Her Firm

05 March 2004

Revenues at Martha Stewart Living Omnimedia, the Empress of Elegance's commercial exploitation vehicle, sagged year-on-year by 8.6% in the fourth quarter of 2003.

The fall is attributed to adverse publicity surrounding her [then] upcoming trial for alleged securities fraud, conspiracy, obstruction of justice and lying to investigators over the sale of her shares in biotech company ImClone.

Paradoxically, although MSLO sales were down to $70.9 million (€58.20m; £38.97m), net profit rose to $4.6m, compared with a $2m loss for the same period a year ago

"We are pleased that fourth quarter results are better than expected," said chief executive Sharon Patrick. "Nevertheless, we continue to feel the negative impact of the events surrounding Martha Stewart's personal legal situation."

Stewart's trial in New York City currently awaits a jury verdict.

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