Martha Stewart and Macy’s Kiss and Make Up; No Love for J.C. Penney

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Source: Macy's

Macy’s (NYSE:M) and Martha Stewart Living Omnimedia (NYSE:MSO) are making a truce in the new year, but J.C. Penney (NYSE:JCP) and Macy’s? Not so much.

According to Bloomberg, Macy’s and Martha Stewart announced Thursday that they settled a lawsuit accusing Stewart’s company of violating an exclusivity agreement by selling products at rival J.C. Penney. The two parties have been battling in court since January 2012, when Macy’s sued both J.C. Penney and Martha Stewart, charging that the sale of Martha Stewart merchandise in J.C. Penney stores violated an earlier exclusivity contract secured between Macy’s and Martha Stewart, but both companies are now reporting that they have settled litigation over the alleged contract breach; they are keeping the terms of the settlement private.

As of Thursday, Macy’s and Martha Stewart have resolved their differences, but neither are back on good terms with J.C. Penney. Macy’s said in a statement that its pact with Martha Stewart doesn’t affect its outstanding claim against J.C. Penney. Following Macy’s suit against J.C. Penney in 2012, the latter rebranded the Stewart goods in its bedding, bath, and cookware categories to “JCP Everyday,” dropping the Martha Stewart name, but Macy’s still demands that sales of Stewart merchandise be completely blocked.

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