In its third-quarter report, MSLO touted significant gains in its merchandising division: this segment of the company made $9.6 million this year, compared to $8.9 million the same quarter last year.
The gain is attributed to the following:
These candy-cane gift boxes with labels and dividers from Martha Stewart Crafts at Michael's are just one example of a multitude of new holiday craft products launched by MSLO this year.
Charles Koppelman, executive chairman and principal executive officer, said, "For the past five years, we have been focused on diversifying and expanding our Merchandising business for long-term growth and we are seeing our efforts bear fruit in this quarter's results. We are applying the same aggressive mindset to our Broadcasting business with our slate of new programming on Hallmark Channel. Broadcasting has been challenging due largely to the remaining run-off results from syndication in the quarter. Our Internet business continues to perform very well and our Publishing business had a solid quarter."