New York-based Martha Stewart Living Omnimedia Inc on Thursday said it settled a lawsuit with retailer Macy's Inc. over a home products deal with department store chain JC Penney Co Inc. According to Reuters, Martha Stewart did not disclose the terms of the settlement. The company however, said that the deal would not be material to the company.
Macy's sued Martha Stewart and Penny last year after the two announced a partnership to open Martha Stewart home shops at hundreds of Penney stores in 2011. The retailer claimed it has exclusive rights to Martha Stewart cookware, bedding and bath products under a 2006 deal, the report said. Macy's sued Martha Stewart for breach of contract and Penney for interfering with its agreement with the former. The retailer also sought to stop Penney from selling any products designed by home improvement doyenne Martha Stewart even if her name doesn't appear on the items or their marketing, Reuters said.
Penney and Martha Stewart in October revised their agreement eliminating Stewart's products in home goods categories, to which Macy's claims exclusive rights, the report said.
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