Martha Stewart Living swings to profit in Q2
New York – Martha Stewart Living Omnimedia (MSLO) reported net income of $2.24 million in the second quarter of fiscal 2014, a turnaround from a net loss of $636,000 in the second quarter of the previous fiscal year. Revenues fell 11% to $37.6 million from $42.2 million, due to lower print and merchandising revenue partially offset by higher digital advertising revenue.
"For the past several months, we have been focused on managing our costs and expenses without in any way sacrificing our high quality content and designs,” said Dan Dienst, CEO. “We saw the efforts of many of our talented staff pay off this quarter, which is the first profitable second quarter our company has achieved since 2008. With the business stabilized, our business unit realignments behind us, and efficiencies and productivity measures being rigorously monitored, we are now keenly focused on the many growth opportunities ahead of us across all verticals and all geographies. As I have said on several recent occasions, the best years for MSLO are indeed ahead of us."
GNC net income slips in Q2
Pittsburgh – Net income at GNC Holdings Inc. slipped during the second quarter of fiscal 2014, falling 2% to $69.89 billion from $71.69 billion in the prior year period. For second quarter 2014, the company reported consolidated revenue of $675.2 million, a decrease of 0.2% as compared to consolidated revenue of $676.3 million for second quarter 2013.
Same-store sales in domestic corporate stores fell 4%. GNC cited factors including traffic challenges, slower industry growth, dependence on bundled promotions and lack of product innovation for its performance. For the full fiscal year, GNC expects flat revenue growth.
Tile Shop net income falls in Q2
Minneapolis – Tile Shop Holdings Inc. reported a 38% dip in net income during the second quarter of fiscal 2014 compared to the same period a year earlier. Net income fell to $3.96 billion from $6.48 billion, with Tile Shop citing adverse macroeconomic conditions, including home sales, as having a generally negative impact on the business.
Net sales rose 15% to $66.7 million for the quarter compared with $58.1 million, largely driven by sales from stores not included in the same-store sales base. Same-store sales increased 0.3%. For the full fiscal year, Tile Shop expects same-store sales to range from flat to a single-digit increase.