by Christopher Freeburn | January 2, 2014 10:32 am
News that Martha Stewart Living Omnimedia (MSO) had settled litigation with Macy’s (M) sent MSO stock up more than 4% in Thursday morning trading.
In 2011, JCPenney (JCP) agreed to create mini-boutiques to sell Martha Stewart merchandise inside its stores. That deal drew a lawsuit from Macy’s, which claimed to have an exclusive deal to sell Martha Steward merchandise dating back to 2006, the Associated Press notes.
JCPenney subsequently reduced the array of Martha Stewart merchandise sold in its stores.
Terms of the deal were not disclosed, but Macy’s and Martha Stewart indicated that the settlement would not affect their operations and that their existing partnership would continue.
Despite the settlement with Martha Stewart, Macy’s is continuing litigation against JCPenney.
News of the settlement with Martha Stewart sent M stock up almost 1% in Monday morning trading, while JCP stock slipped slightly.
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