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Martha Stewart Living Omnimedia reports second quarter results
July 29, 2009
Martha Stewart Living Omnimedia, Inc. today reported revenue for the second quarter ended June 30, 2009 of $57 million, down from $77.1 million in the second quarter of 2008. Lower revenues primarily reflect declines in magazine advertising and merchandising revenues. The company's Internet and Broadcasting segments witnessed solid performance during the quarter.
Merchandising revenues were $9 million for the second quarter of 2009, compared to $16.2 million in the prior year's second quarter, partly due to lower royalty revenue from Kmart as the relationship continues to wind down. Robin Marino, president and CEO of merchandising, said sales at Macy's and other merchandising partnerships remained relatively resilient in a difficult economy. Top-selling categories in The Martha Stewart Collection at Macy's were cookware, enameled cast iron, bakeware, bath towels and moderate bedding. Development for Martha Stewart Clean, a 10-SKU line of all-natural cleaning products with The Hain Celestial Group was completed and is scheduled to launch in early 2010. Chef Emeril Lagasse's updated collection of top-quality stainless steel cookware with All-Clad relaunched at Macy's this month.
MSLO Publishing revenues in the second quarter of 2009 were $33.5 million, compared to $46.3 million in the prior year's second quarter; Broadcasting revenues were $10.3 million, compared to $11.4 million in the second quarter of 2008, and Internet revenues were $4.2 million, up from $3.2 million in the same quarter last year.
Posted by Susan Dickenson on July 29, 2009 | Comments (0)
