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Not Pretty for Martha Stewart

Business suffers 1Q declines in all areas; cites pressure of government investigation

Published

21 years ago

May 1, 2003

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Martha Stewart Living Omnimedia Inc. (New York) announced a first quarter 2003 operating loss of $7.5 million.

“Our business results reflect considerable pressure associated with the continuing governmental investigations of my sale of non-company stock,” chairman and ceo Stewart said. “In the face of these pressures, the company nonetheless remains focused on creating and producing the original how-to content and quality products that fuel our company and define our brand.”

The company suffered in all the various aspects of its multimedia business. Publishing, television and Internet direct commerce revenues all declined in the quarter. Its merchandising segment revenues decreased 7 percent. It said it realized higher revenue from the introduction of Martha Stewart Signature products, offset by lower sales of Martha Stewart Everyday products sold at Kmart.

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