But Macy's said the settlement does
not impact its lawsuit against J.C. Penney Co., which is still ongoing.
Macy's Inc. and Martha Stewart Living
Omnimedia Inc. said Thursday that their settlement terms are confidential and
not material to their businesses. Both companies said that they look forward to
"a continued, successful partnership together."
Macy's has had an exclusive
merchandising contract with Martha Stewart since 2006, including items like
bedding and bath products.
Stewart's company and Penney signed a
merchandising deal in December 2011 to develop mini Martha Stewart shops. That
prompted Macy's to sue both companies for violating its exclusive agreement
with Martha Stewart.
Martha Stewart Living Omnimedia and
J.C. Penney have already scaled back their partnership. In October the
department store chain said it would no longer sell a broad range of home and
bath products designed by Martha Stewart Living Omnimedia but would continue to
sell a smaller batch of Martha Stewart items, including window treatments, rugs
and party supplies.
Martha Stewart is looking to boost
merchandising sales as it continues to grapple with a weak publishing business
amid sluggish advertising sales. In October it said its quarterly net loss
narrowed, though revenue fell 22 percent to $33.8 million, hurt by weakness in
its broadcasting and publishing divisions.
Macy's, meanwhile, has been seeing strong sales. In November it said quarterly net income rose 22 percent will revenue rose 3 percent to $6.28 billion.