Word: marte
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Dates: during 1990-1999
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...Mart is retailing's biggest fixer-upper, and Stewart, author of laborious decorating tips and arbiter of God-is-in-the-details perfectionism, is in the midst of injecting it with a large dose of the upper-crust life-style that is Martha Stewart living. In a joint venture with K Mart, Stewart has launched a signature paint (with Sherwin-Williams) and home collection: Martha Stewart Everyday, the first salvo in an all-out assault on K Mart's style sensibility. If Stewart has her way (and she usually does), America will soon be changing its sheets the Martha...
Like a perfectly timed souffle, the K Mart-Martha alliance comes at a time when the fortunes of both entities are rising. K Mart has managed to pull itself back from almost complete disaster, although it is a long way from being top shelf. Meanwhile, Stewart has gained control of all things Martha and rolled them into Martha Stewart Living Omnimedia, a slew of new businesses that will greatly expand her nearly $150 million life-style empire...
...dozen now defunct or bankrupt discounters (Jamesway and Caldor, to name a couple) can tell you. The value trend also shows up in the success of retailers such as Gap's Old Navy Clothing and every outlet store you can think of. No one is going to mistake K Mart for Neiman Marcus, but K Mart can no longer draw shoppers with cheap, and cheaply made, goods...
...Mart deal is really the second harvest of a previously unfruitful Martha-K Mart association. Since 1987, Stewart has been a mostly decorative "life-style consultant" for the retailer. But the arrangement, like K Mart's bottom line, foundered badly as competitors like Wal-Mart and Target flourished. When Stewart joined K Mart, she was the author of several successful books on entertaining and wedding planning, and the company, based in Troy, Mich., was the nation's biggest retailer, with sales of $23.99 billion and a stock price of $14.88. Back then, Wal-Mart was a distant second, with sales...
...indisputably a recipe for success. Her company will probably head for an initial public offering on Wall Street. With her newly launched products and media outlets, Stewart's influence reaches more than 30 million people a week, in addition to the 70 million American households that already shop K Mart yearly. At the discount chain, her matelasse covers, an item usually found at the toniest boutiques, are starting to sell like garden hoses, which is just what K Mart needs to bring in the sales. "We have a million ideas that they can benefit from," Stewart says. But even...