Martha Stewart, Macy's settle legal dispute

CNBC.com with Reuters
Thursday, 2 Jan 2014 | 8:32 AM ET

After nearly a year of legal wrangling, Macy's and Martha Stewart Living Omnimedia have settled.

"Macy's has resolved its breach-of-contract lawsuit against Martha Stewart Living Omnimedia. We are pleased to be able to put this matter behind us," said the department-store retailer in a statement Thursday.

Terms of the settlement were not disclosed, Macy's added.

3 retail stocks to watch next year
Tom Forte, Telsey Advisory Group, provides his outlook on which retailers are positioned to ring up sales in 2014, including Coach and Urban Outfitters.

Following the report, Martha Stewart stock was trading lower. (Click here to track its shares.)

Macy's sued J.C. Penney and Martha Stewart after the two announced a partnership in December 2011. The settlement between Macy's and Martha Stewart does not affect Macy's claim against J.C. Penney.

Macy's said Martha Stewart's contract with Penney breached their agreement that included exclusive rights to Martha Stewart-branded cookware, bedding and bath products.

—CNBC with Reuters

  Price   Change %Change


Contact Retail


    Get the best of CNBC in your inbox

    › Learn More