Business Services Industry
Martha Stewart's Legal Woes to Hurt Company's Profits for Quarter, Full Year.
Knight Ridder/Tribune Business News, August, 2003
By James T. Madore, Newsday, Melville, N.Y. Knight Ridder/Tribune Business News
Aug. 12--Martha Stewart's legal problems will continue to harm her company into 2004, though she's no longer at the helm, executives and stock analysts said yesterday.
Officials at Martha Stewart Living Omnimedia Inc. predicted losses for the current ...uarter and the full year as some advertisers and consumers avoid its flagship Martha Stewart Living magazine, TV show and merchandise sold at Kmart stores. For 2003, the company forecast losses of between $7 million and $9 million on sales of about $250 million; it would be the first yearly loss since the company went public in 1999.
Still, executives said they intended to move ahead with plans next month...
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