Macy's sues Martha Stewart Living
NEW YORK (AP) - January 24, 2012 (WPVI) -- Macy's Inc. has sued Martha Stewart Living Omnimedia Inc. in a bid to block a licensing deal between the housewares company and J.C. Penney Co.
In the lawsuit filed Monday in New York State Supreme Court, Macy's claims Martha Stewart Living's deal with J.C. Penney violates the terms of an exclusive pact Macy's has to sell Martha Stewart Living products at its stores. That's according to reports in The Wall Street Journal and other publications.
The complaint comes after Plano, Tex.-based J.C. Penney acquired a 16.6 percent stake in Martha Stewart Living and announced plans last month to open mini-Martha Stewart shops inside most of its stores, beginning next year.
Cincinnati-based Macy's has asked the court for a preliminary injunction to block the deal.
jc penney, macy's, business/finance
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