Macy’s, J.C. Penney Return To Court

Macy’s, J.C. Penney Return To Court

The bitter battle for the ability to sell Martha Stewart’s home goods products returned to court today with the CEOs of both companies as well as Martha Stewart ‘potentially’ expected to testify in the coming days. The non-jury trial was forced into recess last month do to scheduling complications and the three parties were forced into fruitless mediation.

 Macy's logo

Following an attempt by J.C. Penney Company, Inc. (NYSE:JCP)’s to open in-store boutiques in a number of their stores in order to peddle Ms. Stewart’s wares, Macy’s, Inc. (NYSE:M) sued both J.C Penney’s and Martha Stewart Living Omnimedia last year believing that they had an exclusive contract with Stewart to sell some of her items. The Martha Stewart home products are Macy’s biggest selling item in that niche and J.C. Penney’s believes that they are an essential piece in reviving the struggling retailer.

Choice Equities Fund March 2021 Performance Update

Choice Equities FundChoice Equities Fund generated a net return of 29.2% for the 1Q 2021 resulting in annualized returns of 31.7% per year since inception of January 2017. Q1 2021 hedge fund letters, conferences and more Choice Equities Fund, LP Overview Choice Equities Fund (“CEF” or the “Fund”) is an investment partnership that seeks to generate market-beating Read More

No stranger to court proceedings, the 71 year old Stewart took the stand last month saying, “We thought, and I hope rightly so, that we were allowed to do such a thing.” The domestic diva then added that she was “flabbergasted” that (Macy’s CEO) Lundgren reacted so strongly. “It didn’t occur to me that there weren’t enough customers to go around,” she said.

By way of illustration just how far apart the sides are in this case, when Terry Lungren tood the stand last month he testified that, “I was literally sick to my stomach,” before adding that they believed they had a friendship that would not allow for such treachery.

The first of Penney Company, Inc. (NYSE:JCP)’s Stewart based mini-stores opened Friday, though a number of the items they had planned to sell were not available to its customers. In a recovery plan that has bordered on disastrous at times the case is a major factor in Penney’s envisioned revival.

Steven Gursky, a New York attorney who specializes in branded product never believed that anything would come out of mediation when sent there last month. “If I was sitting in Macy’s shoes, I’m not sure I’d be willing to compromise,” said Gursky. “Unless Martha Stewart and Penney Company, Inc. (NYSE:JCP) realized they couldn’t take what Martha had already given away to Macy’s, Inc. (NYSE:M), and fold their tents, I don’t know what they have to offer.”

Testimony is set to resume tomorrow.

Previous article Find a Job with Social Media Outlets [INFOGRAPHIC]
Next article Alcoa Inc (AA) Beats Earnings Expectations, Reports Soft Revenue
While studying economics, Brendan found himself comfortably falling down the rabbit hole of restaurant work, ultimately opening a consulting business and working as a private wine buyer. On a whim, he moved to China, and in his first week following a triumphant pub quiz victory, he found himself bleeding on the floor based on his arrogance. The same man who put him there offered him a job lecturing for the University of Wales in various sister universities throughout the Middle Kingdom. While primarily lecturing in descriptive and comparative statistics, Brendan simultaneously earned an Msc in Banking and International Finance from the University of Wales-Bangor. He's presently doing something he hates, respecting French people. Well, two, his wife and her mother in the lovely town of Antigua, Guatemala. <i>To contact Brendan or give him an exclusive, please contact him at [email protected]</i>

No posts to display