MSLO: J.C. Penney Deal Still On
NEW YORK-The agreement between J.C. Penney and Martha Stewart Living Omnimedia (MSLO) remains in effect, according to a statement from MSLO.
The statement, as received by HFN, is an apparent contradiction of a report which stated that J.C. Penney's CEO, Myron Ullman, had decided to end the deal and remove Martha Stewart-branded merchandise from the retailer's shelves.
MSLO said, "J.C. Penney remains one of our many retail partners. Our agreement with them is in force, and we have no intention of ending it."
Announced in December 2011, the agreement called for J.C. Penney to begin offering Martha Stewart home products in Martha Stewart shops in about 600 of its stores, and for the two companies to create a website for the collection. It has been the subject of two lawsuits against J.C. Penney and MSLO from Macy's, which carries the Martha Stewart Home Collection.