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The publisher of Martha Stewart Living, Blueprint and Everyday Food named Jacki Kelley executive vice president of media sales. She joins Wenda Harris Millard, the company's president of media, who came to Martha Stewart from Yahoo in June.
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Last month, Martha Stewart Living reported that its third-quarter losses widened from a year ago, and forecast a wider-than-expected loss in the fourth quarter as advertising revenues decline. Still the company said it is increasingly optimistic about the company's prospects for an advertising recovery in 2005.
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In October 2005, Stewart ... released a new book called The Martha Rules on starting and managing a new business, and a month later her company released Martha Stewart Baking Handbook. In October 2006, Martha Stewart's Homekeeping Handbook, a reference book about looking after your house, was published by Clarkson Potter. She also is a regular contributor of cooking, gardening, and crafts segments on NBC's Today show. Stewart's daily talk show was nominated in six categories for the 33rd Annual Daytime Emmy Awards in 2006, including Best Host and Best Show. MSLO launched a line of houses that carry her name to be built by KB Home initially in Cary, North Carolina and various other locations nationwide. The first homes, which were inspired by Stewart's homes in New York and Mount Desert Island in Maine, were completed in early 2006.
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Thursday it will launch a new line of crafts products under the Martha Stewart name with EK Success Ltd., a scrapbooking and other crafts products marketer. The first products to be launched will be paper-based craft and scrapbooking merchandise expected to roll out in the fourth quarter of 2006 or the first quarter of 2007. The companies will sell the items in major craft chains and independent craft stores around the United States as well as online. The new line will be called Martha Stewart Crafts.
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Martha Stewart's merchandising division posted revenues of $35.2 million compared to $28.1 million in the year-ago period. Sales of Martha Stewart Everyday products sold at Sears Holdings Corp.'s Kmart declined in the quarter, with weakness in the home category. The company said it is refreshing the line this year. Martha Stewart added that reception for the Martha Stewart Collection from Macy's buyers has beeen positive. Meanwhile, the company plans to launch Martha Stewart Crafts line, exclusively at Michaels Stores Inc. in the U.S. and Canada in May, with independent retailers to follow later in the year.
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Martha Stewart Living forecast a loss of 50 cents a share in the third quarter, wider than the 33-cent Thomson First Call mean. The company said its expected fourth-quarter loss would narrow sharply from the third "due to the significant amount of revenue to be recognized by our merchandising segment as a result of certain minimum royalty guarantees."
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