NEW YORK (AP) – JCPenney Co. is reportedly dumping the Martha Stewart brand, after sales of the home maven’s goods didn’t live up to expectations.
The move reported by the New York Post follows a year and half three-way legal battle with rival Macy’s and Martha Stewart Living Omnimedia Inc. over a partnership with the home designer.
Emails seeking comment from Martha Stewart and JCPenney on the newspaper report were not immediately returned.
The Post cited unidentified sources as saying Mike Ullman, who returned as JCPenney’s CEO in April, made the decision. A judge is expected to rule on the case in the coming days.
JCPenney’s former CEO Ron Johnson, who was ousted in April, signed a merchandising deal with Martha Stewart in late 2011 and touted it as a key part of his plan to reinvent the chain.
(© Copyright 2013 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)
- Anonymous Labor Of Love For Grieving Families
- Security Tightens For U2 Concert At AT&T Stadium
- Gov. Abbott Pressuring House, Senate To Pass Bathroom Bill
- Frisco Named Second-Fastest Growing City In America
- McKinney Named As One Of Fastest Growing Cities In Country