Macy’s sue Martha Stewart
NEW YORK, USA (AP) — Macy’s Inc has sued Martha Stewart Living Omnimedia Inc in a bid to block a licensing deal between the housewares company and JC Penney Co.
The lawsuit was filed Monday in New York State Supreme Court. Macy’s claims Martha Stewart Living’s deal with JC Penney violates the terms of an exclusive pact Macy’s has to sell Martha Stewart Living products at its stores, according to reports in The Wall Street Journal and other publications.
The complaint comes after Plano, Texas-based J.C. Penney acquired a 16.6 per cent stake in Martha Stewart Living and announced plans last month to open mini-Martha Stewart shops inside most of its stores, beginning next year. The deal announced last month was seen as part of JC Penney’s efforts to re-image itself under its new CEO Ron Johnson, a former Apple Inc executive.
Cincinnati-based Macy’s has asked the court for a preliminary injunction to block the deal.
