MSLO Narrows Loss in Q2
July 30, 2013,
NEW YORK-Increased merchandising revenues and slimmed-down expenses helped reduce the second-quarter net loss for Martha Stewart Living Omnimedia (MSLO) from $2.7 million last year to $1.2 million this year.
MSLO's merchandising revenues registered an 11.2 percent gain in the quarter, which ended on June 30. Much of this, according to an MSLO statement, was due to royalty revenue from the company's program with J.C. Penney, which has begun selling Martha Stewart merchandise in party merchandise, selected home decor items, food, crafts and books.
Total second-quarter revenues were $42.2 million, down 11.9 percent from last year's second quarter. MSLO's publishing revenues fell 16 percent, and broadcasting revenues took a dive of 58.8 percent.