Martha Stewart Living Omnimedia (MSO) reported a second quarter loss of $2.5 million on weak publishing and broadcasting revenues, despite a 9 percent increase in merchandising revenue from Martha-branded items at Home Depot, Macy’s, and others.
The biggest shock came from MSLO’s publishing business, which earned $1.9 million in the second quarter of 2010, but lost exactly that amount in the second quarter of 2011. The decrease in revenues “reflects continued volatility in the print advertising market,” the company said.
Broadcasting was also unprofitable this quarter, losing half a million dollars, but that, the company said, was an improvement over the division’s $1.5 million loss a year prior. The Martha Stewart Show has found ways to save money on production and distribution costs.
Overall, though, the results certainly won’t have Martha saying “it’s a good thing.”