Martha Inc. describes Home Depot line as a bright spot
Martha Stewart Living Omnimedia posted sales and revenue declines in 2010, a transformative year for the multi-faceted company, according to Charles Koppelman, executive chairman and principal executive officer.
MSLO posted revenues of $230.8 million in 2010, down 5.6%. Operating loss for the full year was $8.7 million, compared with an operating loss of $12.0 million in 2009.
One of the transformations was into a supplier to Home Depot, a relationship the company pointed to as a bright spot. "The Martha Stewart Living line at The Home Depot continued to perform well with notably strong results for the carpet program and the new holiday assortment, which included trees, ornaments, decor and lighting," the company announced.
Fourth-quarter revenues in the company's merchandising division were $11.6 million, down from $25.7 million in the fourth quarter last year, which unlike 2010 included Kmart revenues.
"Merchandising made impressive strides throughout the year. We just celebrated the first anniversary of our partnership with The Home Depot, which was an important contributor to our performance in 2010. Our Martha Stewart Collection at Macy's delivered strong results throughout the holiday season," said Robin Marino, president and CEO of merchandising.