DOW JONES NEWSWIRES
Home Depot Inc. (HD) and Martha Stewart Living Omnimedia Inc. (MSO) have agreed to develop a Martha Stewart Living brand of home-improvement products to be sold at Home Depot stores.
Products in the outdoor-living category will launch in January in the U.S. and February in Canada, followed by products in the home-organization categories in February.
The outdoor living line will include patio dining and conversation sets priced from $399 to $1,999. The home organization category will feature a closet organization system and a nine-cube organizational unit.
Additional products will be available next year.
"Together we will offer unique products at affordable prices, along with enhanced know-how to help consumers complete any project," Home Depot Chairman and Chief Executive Frank Blake said.
Martha Stewart said the partnership provides a wider audience for her products. Martha Stewart products also are sold at Macy's Inc. (M), Sears Holdings Corp.'s (SHLD) Kmart and other retailers.
Martha Stewart Living has reported four quarterly losses in a row as it struggles with advertising declines at publications and lower sales at retailers.
Home Depot also has seen lower profits amid the housing downturn and recession.
Home Depot's shares were at $27.43, down 0.3%, in after-hours trading while Martha Stewart's shares fell 1% to $6.78. Home Depot stock is up about 20% this year, while Martha Stewart's stock has more than doubled in the same period.
-By Kathy Shwiff, Dow Jones Newswires; 212-416-2357; Kathy.Shwiff@dowjones.com