Macy's sued Penney and Martha Stewart Living
after the two announced a partnership in December 2011, saying
that the agreement breached its contract with Martha Stewart
that included exclusive rights to Martha Stewart-branded
cookware, bedding and bath products.
"While no assurance can be given as to the ultimate outcome of
this matter, we currently believe that the final resolution of
this action will not have a material adverse effect on our
results of operations, financial position, liquidity or capital
resources," Penney said in a regulatory filing on Friday.
Martha Stewart Living said in January it settled a lawsuit with
Macy's over the home products deal with Penney.
Penney's shares closed at $8.49 on the New York Stock Exchange
(Reporting by Maria Ajit Thomas in Bangalore;
editing by Maju
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