At Kmart, Martha Stewart sales down, royalties up
February 22, 2006,
New York – Driven by contractual minimum royalty guarantees, Kmart paid Martha Stewart Living Omnimedia (MSLO) $28.0 million in the fourth quarter of 2005, up from $23.7 in the same period a year ago. Sales of Martha Stewart Everyday products, however, “declined modestly in the quarter, with weakness in soft home partially offset by sales related to our recently introduced furniture line – Everyday Rooms,” the company said in its earnings release.
Susan Lyne, president and ceo, noted that in contrast to the full year, the fourth quarter results “show meaningful improvement in all areas of our business.”