NEW YORK–Martha Stewart Living Omnimedia reported a sales decline on a net loss, although Stewart’s home collection for Macy’s generated solid results, the company said.
Revenues dropped 39 percent to $72.9 million from the year ago quarter. Kmart contractual minimums accounted for $1.2 million in the fourth quarter of 2008.
Net loss was $8.0 million, compared to earnings of $33.3 million in the year-ago quarter. Excluding an impairment charge related to the publishing segment, the company would have earned 2 cents a share, MSLO said, in a statement.
“Merchandising performed well, witnessing contributions from our Martha Stewart Collection exclusively at Macy’s, Martha Stewart Crafts, Martha Stewart for 1-800-FLOWERS.COM and Emeril-branded product lines,” the statement said.
Top-selling categories for the Martha Stewart Collection at Macy’s in the quarter were cookware, gadgets and luxury bedding.