Martha will ratchet back catalog, Internet division.(Martha Stewart Living Omnimedia)
Home Textiles Today, March, 2003 by Lillo, Andrea
NEW YORK -- Falling well short of forecasts for the fourth quarter and fiscal year, and despite initiatives incorporated last year--including a broad market assortment, a tighter focus on commerce and an increase in catalog circulation--Martha Stewart Living Omnimedia will significantly scale back its direct-to-consumer division.
In addition to fewer drops and sharply edited catalog assortment, the company will cut back its Internet staff. The move is necessary in order for the division to meet its goal of breaking even in 2004, and becoming profitable in 2005, executives said during the company's fourth quarter conference call with analysts. The catalog will shrink in assortment and mailings, and products will focus more on brands. The company also...
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