NEW YORK (AP) — Macy’s and Martha Stewart Living Omnimedia
have reached a settlement agreement related to a breach-of-contract
lawsuit involving J.C. Penney.
Macy’s Inc. and Martha Stewart
Living Omnimedia Inc. each said Thursday that the settlement terms are
confidential and not material to their businesses. Both companies said
that they look forward to "a continued, successful partnership
together."
Macy’s said the settlement does not impact its ongoing lawsuit with J.C. Penney Co. Inc.
Stewart’s
company and Penney signed a merchandising deal in December 2011. That
prompted Macy’s to sue both companies for violating its exclusive
agreement with Martha Stewart. In October Penney scaled back its
partnership with Stewart.
Shares of Macy’s and Penney fell slightly in premarket trading.
Copyright 2014 The Associated Press. All rights
reserved. This material may not be published, broadcast, rewritten or
redistributed.
NEW YORK (AP) — Macy’s and Martha Stewart Living Omnimedia
have reached a settlement agreement related to a breach-of-contract
lawsuit involving J.C. Penney.
Macy’s Inc. and Martha Stewart
Living Omnimedia Inc. each said Thursday that the settlement terms are
confidential and not material to their businesses. Both companies said
that they look forward to "a continued, successful partnership
together."
Macy’s said the settlement does not impact its ongoing lawsuit with J.C. Penney Co. Inc.
Stewart’s
company and Penney signed a merchandising deal in December 2011. That
prompted Macy’s to sue both companies for violating its exclusive
agreement with Martha Stewart. In October Penney scaled back its
partnership with Stewart.
Shares of Macy’s and Penney fell slightly in premarket trading.
Copyright 2014 The Associated Press. All rights
reserved. This material may not be published, broadcast, rewritten or
redistributed.