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Neiman Marcus
Martha Stewart takes 10% pay cut as company aims for profit
Martha Stewart takes 10% pay cut as company aims for profit

Domestic doyenne Martha Stewart is about to get a slightly less fabulous paycheck, agreeing to cut her annual base salary by $200,000 to $1.8 million. Stewart, who is chairwoman of Martha Stewart Living Omnimedia Inc., also allowed the company to shrink her annual licensing fee by $300,000 to $1.7 million, according to a regulatory filing Wednesday. The cuts, according to company executives, are “consistent with their plan to return ... to profitability.” MSLO, which the home goods queen founded in 1997, has struggled recently. Chief Executive Lisa Gersh stepped down in December to help “further drive the company’s strategy of expanding its merchandising...

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