On today’s Olympics-shortened and rescheduled MAD MONEY on CNBC at 1:30 PM EST, Jim Cramer actually hosted Martha Stewart, founder of Martha Stewart Living Omnimedia Inc. (NYSE: MSO).
It’s probably no surprise, but Cramer and Martha were both bullish on the company and the brand. She said the damage has been repaired, advertisers are back, and the brand stayed strong. She also noted that the company has so many brands that people do not even think of it.
Cramer said he thinks that this holiday season may be a"craft-oriented" retail season. Cramer asked about the stock laggingand Martha essentially said that the company will make it withconsumers.
Martha also said that the company is first and foremost a magazine company andthat drives many other products. They noted sales in Wal-Mart, Macy’s,K-Mart and more. Martha said that the company’s push overseas toemerging market is just starting. As far as Emeril adding to thecompany, she said he is not competing against the other units but isadding his own to the company.
As far as what Cramer thinks will happen to the stock, he summed it up pretty easily: "Will you give me a break? $8.00? It’s Going Higher."
Jon C. Ogg
August 14, 2008
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