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The Battalion

The Student News Site of Texas A&M University - College Station

The Battalion

The Student News Site of Texas A&M University - College Station

The Battalion

Texas A&M utility Gavin Grahovac (9) throws the ball during A&Ms game against Georgia on Friday, April 26, 2024, at Olsen Field. (CJ Smith/The Battalion)
Southern slugfest
May 23, 2024
Texas A&M pitcher Evan Aschenbeck (53) reacts after throwing the final strike out during Texas A&M’s game against Mississippi State on Saturday, March 23, 2024, at Olsen Field. (Chris Swann/ The Battalion)
Down but not out
May 23, 2024
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Texas A&M University System Chancellor John Sharp attends the Class of 1972 50-year reunion in Kyle Field on April 20, 2022.
A&M System’s Title IX director suspended after supporting Biden's Title IX changes
Nicholas Gutteridge, Managing Editor • May 23, 2024
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A fighter jet squadron flies over during the National Anthem before Texas A&M’s game against Arkansas at Olsen Field on Saturday, May 18, 2024. (Chris Swann/The Battalion)
Bryan-College Station Regional participants announced
Ian Curtis, Sports Writer • May 27, 2024

For the second time in three seasons, No. 3 national seed Texas A&M baseball will host the Bryan-College Station Regional, where it’ll...

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Beekeeper Shelby Dittman scoops bees back into their hive during a visit on Friday, April 5, 2024. (Kyle Heise/The Battalion)
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Shalina Sabih, Sports Writer • May 1, 2024

The speakers turn on. Static clicks. And a voice reads “Your starting lineup for the Texas A&M Aggies is …” Spectators hear that...

Kennedy White, 19, sits for a portrait in the sweats she wore the night of her alleged assault inside the Y.M.C.A building that holds Texas A&M’s Title IX offices in College Station, Texas on Feb. 16, 2024 (Ishika Samant/The Battalion).
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April 25, 2024
Scenes from 74
Scenes from '74
April 25, 2024
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Farewell from the graduating Battalion staff of 2024
Farewell from the graduating Battalion staff of 2024
The BattalionMay 4, 2024

Martha Stewart Living reports first-ever quarterly loss

NEW YORK (AP) — The insider trading investigation surrounding Martha Stewart is taking a toll on her namesake company, which reported its first-ever quarterly loss Tuesday and warned of more bad news ahead.
For the three months ending Dec. 31, Martha Stewart Living Omnimedia lost $2 million, or 3 cents per share, in contrast to a profit of $5.7 million, or 13 cents per share, in 2001. The results marked the first time the company has reported a net loss for any quarter since it went public in 1999.
Among the fallout at the media and retailing company: an expected 25 percent decline in advertising pages at the company’s flagship Martha Stewart Living magazine during the first three months of this year.
“Certain advertisers are opting to wait until they see the resolution of the investigations involving Martha before committing to run pages,” company president and chief operating officer Sharon Patrick said Tuesday.
The company earned 6 cents per share in the fourth quarter, putting it ahead of the 3 cents per share that analysts surveyed by Thomson First Call had forecast. But it warned of more difficulties ahead, saying it expects a first-quarter loss of 6 cents to 8 cents per share, when analysts were looking for a profit of 3 cents. Fourth-quarter revenues were $77.6 million, compared with $82.7 million in 2001.
While the downturn was driven by declines in publishing, television and Internet/direct commerce divisions, merchandising revenues were higher, increasing 11 percent to $11.8 million in the quarter. The company said it benefited from strong demand for a new holiday line and higher royalty rate under its contract with Kmart.
Federal regulators want to know whether founder and chief executive Martha Stewart was trading on insider information when she sold shares of ImClone stock in December 2001. She has denied any wrongdoing, but said the issue continues to hurt business.

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