The Media Drop: Martha Stewart Living Loses Some Coin

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May 12, 2004

Martha Stewart Living Loses Some Coin

Circulation Management reports that there has been a dip of almost 1/3 in the year over year revenue for the publishing division of Martha Stewart Living Omnimedia Inc., home of the Martha Stewart Living magazine. The company took a $20 million net loss, compared to just a $4 million loss a year ago for the first quarter.

CEO Sharon L. Patrick said in a statement that the operating results by business segment were "generally in line with our forecast, but our net loss for the quarter was greater than expected due to a higher income tax expense."
He claimed that founder Martha Stewart's recent conviction did not affect readers.

I'm curious to see how this rolls over quarter to quarter. Can the company stay solid over the long term? By the way the consumer base reacted to Martha Stewart's conviction a bit back, I would say so.

Also, President and CEO Sharon Patrick is a she, not a "He" as referred to in the quote.

Posted by Tom at May 12, 2004 12:51 PM | TrackBack | IM This

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