Martin Lawrence Expects Sales Drop Due to Quake

Martin Lawrence Limited Editions Inc., a Van Nuys-based art publisher and seller, said its first-quarter sales will probably be “significantly” lower than the company had expected because of the recent Northridge earthquake and severe cold in the Midwest and the East.

In the quarter ended March 31 last year, Martin Lawrence posted a net loss of $1.7 million on $4.7 million of revenue.

Martin Lawrence said it was forced to close two of its galleries in local shopping malls because the malls were damaged in the quake.

The Martin Lawrence Gallery in Sherman Oaks’ Fashion Square mall will be closed from two to six months, said company president Barry R. Levine. The company’s Northridge Fashion Center gallery won’t reopen until the summer at the earliest, Levine said.

Martin Lawrence said the quake also forced the company to effectively shut its corporate headquarters for two weeks. However, the company was fully operational by the beginning of last week.

Martin Lawrence said it expects to recover a significant portion of the damage from its insurer.