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Macy’s, J.C. Penney failing to reach resolution on Martha Stewart dispute
New York City -- On the heels of earlier reports that Macy’s and Martha Stewart Living Omnimedia were able to reach a settlement in their ongoing legal dispute over Martha Stewart sales at J.C. Penney, reports surfaced on Friday that Macy’s and Penney were unable to find their own agreement.
According to multiple sources, talks between Macy’s and Penney fizzled, making it likely that a judge will have to decide the dispute over home goods designed by Martha Stewart.
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Bain acquires furniture retailer
Private equity firm Bain Capital concluded 2013 with the acquisition of Bob’s Discount Furniture, an operator of 47 stores in the Northeast that is intent on expansion.
Bain acquired a majority ownership position in the Manchester, Conn.-based company and said senior management will continue to own a significant stake. Current CEO Ted English will continue to lead the company whose first order of business for 2014 is entry into the Philadelphia market.