Macy’s, Inc. (NYSE:M) today issued the following statement:
“Macy's has resolved its breach-of-contract lawsuit against Martha
Stewart Living Omnimedia. We are pleased to be able to put this matter
behind us. The terms of our settlement are confidential, will not be
disclosed, and are not deemed to be material to Macy’s. We can now
return our focus to what we do best – bringing beautifully designed,
high quality, affordable products to consumers nationwide. We look
forward to a continued, successful partnership together. This settlement
does not affect Macy's outstanding claim against J.C. Penney, which
remains subject to the court's decision.”
Macy’s, Inc., with corporate offices in Cincinnati and New York, is one
of the nation’s premier retailers, with fiscal 2012 sales of $27.7
billion. The company operates about 840 department stores in 45 states,
the District of Columbia, Guam and Puerto Rico under the names of Macy’s
and Bloomingdale’s, as well as the macys.com and bloomingdales.com
websites. The company also operates 13 Bloomingdale’s Outlet stores.
Bloomingdale’s in Dubai is operated by Al Tayer Group LLC under a
license agreement.
All statements in this press release that are not statements of
historical fact are forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. Such statements are
based upon the current beliefs and expectations of Macy’s management and
are subject to significant risks and uncertainties. Actual results could
differ materially from those expressed in or implied by the
forward-looking statements contained in this release because of a
variety of factors, including conditions to, or changes in the timing
of, proposed transactions, prevailing interest rates and non-recurring
charges, competitive pressures from specialty stores, general
merchandise stores, off-price and discount stores, manufacturers’
outlets, the Internet, mail-order catalogs and television shopping and
general consumer spending levels, including the impact of the
availability and level of consumer debt, the effect of weather and other
factors identified in documents filed by the company with the Securities
and Exchange Commission.
(Note: additional information on Macy’s, Inc., including past news
releases, is available at www.macysinc.com/pressroom)
Copyright Business Wire 2014