MSLO merchandise revenues up 23.5% in 4Q
HTT Staff -- Home Textiles Today, 2/26/2013 12:04:54 PM
New York - With testimony in the Macy's lawsuit now underway, Martha Stewart Living Omnimedia execs had little to say about the merchandise division during the company's fourth quarter analyst call this morning.
Ken West, cfo, said the rollout of Martha Stewart merchandise at JCP - the subject of the Macy's suit - remains on track, but won't be beneficial to the company until the second quarter. At Home Depot, soft flooring and paint continue to show weakness, and the home improvment retailer will carry a smaller assortment of patio goods this spring. All other retail partnerships are solid, he said.
During the fourth quarter ended Dec. 31, revenues in the merchandise division climbed 23.5% to $16.2 million. The company cited improved royalty revenues from Macy's, design fees from JCP and contributions from the Martha Stewart Home Office line with Avery.
Merchandise division operating income rose 23.7% to $11.3 million, and adjusted EBITDA jumped 29.1% to $11.4 million.
For the full fiscal year, merchandise revenue increased 18.4% to $57.6 million.
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