Martha, Kmart call it quits

NEW YORK Martha Stewart will no longer be selling her line at Kmart. According to reports, the head of Martha Stewart Living Omnimedia told CNBC last month that the retailer had allowed her line of products to "deteriorate."

Following that report, Stewart issued a recent statement in an attempt to clarify her comments.

"Both Martha Stewart Living Omnimedia and I appreciate the long and productive relationship we have enjoyed with Kmart and Sears Holdings. Although we were not able to agree on terms that would have allowed us to continue working together, we wish our friends at Kmart and Sears Holdings all the best. To the extent my recent comments were taken by anyone to be inconsistent with this sentiment that was not my intent. We hope in particular for a strong performance for the Martha Stewart Everyday line of holiday ornaments and decorations for this upcoming holiday season," stated Stewart.

Stewart's latest retail venture involves a home improvement products line with Home Depot.