Martin Lawrence Loss Narrows as Sales Rise

Martin Lawrence Limited Editions Inc., a Van Nuys-based retailer and wholesaler of lithographs, sculptures and other works of art, reported a narrowed loss for the second quarter that ended June 30.

The company posted a loss of $1.07 million for the second quarter, compared to a loss of $1.73 million for the same three-month period a year earlier. Revenue rose to $4.38 million in the latest quarter, up 14% from $3.83 million in the corresponding period of 1994.

For the first six months of the year, Martin Lawrence reported a loss of $2 million on sales of $8.71 million, compared to a year-earlier loss of $2.32 million on sales of $8.51 million.

Same-store sales at the company’s 15 retail outlets were up 54% in the second quarter compared to the same quarter a year earlier, the company said.