Martha KO'd in Kmart quarter.(Retail briefs)(Brief Article)
Home Textiles Today, August, 2003
Due to Kmart's bankruptcy and store closings, sales of Martha Stewart Everyday products at Kmart declined by 21 percent on a comp basis, and 38 percent on a total store basis, executives said during Martha Stewart Omnimedia's second quarter conference call. Sharon Patrick, president and ceo, added that on a comp store comp category, basis, it had a "modest" drop of 10 percent, which excludes live plants, which were dropped from the 2003 line.
The overall nine percent decline to date was the result of softer sales of certain housewares items due to competitive pricing, and, because of the inclement weather during the spring, patio furniture. Sales have improved for the more recent period of July 1 to August 2, increasing approximately 12 percent on a...
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