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Retail

Martha Stewart & Kmart Get a Divorce (MSO, SHLD, HD)

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By Douglas A. McIntyre Updated Published
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Martha Stewart Living Omnimedia Inc. (NYSE: MSO) has just released a headline titled “Martha Stewart Living Omnimedia Issues Statement.”  Unfortunately, this ‘statement’ is that the relationship between Martha and Sears Holdings Corporation (NASDAQ: SHLD) in Kmart is not being renewed.  We suspected something of this magnitude when the The Home Depot, Inc. (NYSE: HD) pact was signed, and that now appears to have been the last straw.

Martha Stewart stated, “Both Martha Stewart Living Omnimedia and I appreciate the long and productive relationship we have enjoyed with Kmart and Sears Holdings.  Although we were not able to agree on terms that would have allowed us to continue working together, we wish our friends at Kmart and Sears Holdings all the best.  To the extent my recent comments were taken by anyone to be inconsistent with this sentiment that was not my intent.  We hope in particular for a strong performance for the Martha Stewart Everyday line of holiday ornaments and decorations for this upcoming holiday season.”

In these product licensing deals, there is always a question over who really dumped who.  But most indications in the past were that K-Mart/Sears’ management felt jilted over other distribution pacts being signed.

Eddie Lampert’s Sears Holdings Corporation (NASDAQ: SHLD) is trading down 1.6% at $70.28 and Martha Stewart Living Omnimedia Inc. (NYSE: MSO) shares are down 0.3% at $6.17 and recovering off the lows.

JON C. OGG
OCTOBER 16, 2009

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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