Martha Inc. describes Home Depot line as a bright spot
Martha Stewart Living Omnimedia posted sales and revenue declines in 2010, a transformative year for the multi-faceted company, according to Charles Koppelman, executive chairman and principal executive officer.
MSLO posted revenues of $230.8 million in 2010, down 5.6%. Operating loss for the full year was $8.7 million, compared with an operating loss of $12.0 million in 2009.
One of the transformations was into a supplier to Home Depot, a relationship the company pointed to as a bright spot. "The Martha Stewart Living line at The Home Depot continued to perform well with notably strong results for the carpet program and the new holiday assortment, which included trees, ornaments, decor and lighting," the company announced.
Fourth-quarter revenues in the company’s merchandising division were $11.6 million, down from $25.7 million in the fourth quarter last year, which unlike 2010 included Kmart revenues.
"Merchandising made impressive strides throughout the year. We just celebrated the first anniversary of our partnership with The Home Depot, which was an important contributor to our performance in 2010. Our Martha Stewart Collection at Macy’s delivered strong results throughout the holiday season," said Robin Marino, president and CEO of merchandising.
Lowe’s Canada will open in Edmonton
A 142,000-sq.-ft. Lowe’s store is expected to open Aug. 1, and will be the first Lowe’s in Edmonton, according to a report in the Edmonton Journal.
Lowe’s ran a help-wanted ad for the store in the newspaper.
The company opened its first western Canadian store last September at the CrossIron Common, near Calgary. Two other Calgary locations are expected to open in the first quarter.
Two arrested; $80,000 of merchandise recovered
Police in Macon, Ga. have arrested two men they believe are part of a shoplifting ring that targeted Home Depot and Lowe’s stores throughout the state and also in Miami, according to an article in the Macon Telegraph.
Loss prevention personnel in a Macon Home Depot called police on Jan. 26 after they suspected two men of shoplifting. Officers arrested Pablo Lorenzo, 54, of Miami, and Edelberto Opopesa, 20, of Louisville, Ky., on shoplifting charges. Officers found that Opopesa allegedly concealed about $3,000 worth of merchandise.
A third suspect fled the scene.
After a search of the suspects’ vehicles, the police said they found $12,000 in merchandise allegedly stolen from Home Depot and Lowe’s. Upon further investigation, Home Depot has been able to link about $80,000 in merchandise from several of its stores to a shoplifting ring involving the two men, authorities said.