News

New York City -- A New York state Supreme Court filing on Monday disclosed that Macy’s Inc. is suing Martha Stewart Living Omnimedia Inc. for breach of contract after Martha Stewart set up a new deal last December with J.C. Penney to sell products at its stores.

According to Macy's, Martha Stewart Living granted it product exclusivity under a 2006 agreement. J.C. Penney, which acquired a 16.6% stake in the company in December, plans to open Martha Stewart Living in-store shops, beginning in 2013, which violates that exclusivity, said Macy’s.

SAN FRANCISCO — Williams-Sonoma has announced that Mary Ann Casati and Lorraine Twohill have been elected to its board of directors.

“We are excited to have Mary Ann and Lorraine join our board,” said Adrian Bellamy, chairman of the board of directors of Williams-Sonoma Inc. “These two individuals each bring a unique perspective and expertise that we believe will help shape the success of our company.”

INDIANAPOLIS — Jerry Throgmartin, executive chairman and former CEO of Hhgregg has passed away, Dennis May, president and CEO of the company announced Monday.

SAN FRANCISCO — Home Depot has announced the purchase of Redbeacon, an online matchmaker that connects consumers with contractors for home repairs, maintenance and remodeling. The purchase price was not disclosed. 

NEW YORK — Retailers will have to rethink their position in the market, along with strategies they have used thus far, to keep themselves in the game, according to a new Deloitte report, "The Next Evolution: Store 3.0."

SUNBURY, Pa. — Weis Markets on Monday announced it has joined the SmartWay Transport Partnership, a U.S. Environmental Protection Agency program, that will help the grocer assess the environmental and energy efficiency of the trucks supplying its 161 stores.

NAPLES, Fla. — The Retail Industry Leaders Association has appointed new members to its board of directors, including a new board chairman.

RILA said Target chairman, president and CEO Gregg Steinhafel was appointed RILA chairman of the board. Steinhafel, who previously served as vice chairman, succeeds Bill Rhodes, who currently serves as chairman, president and CEO of AutoZone.

One thing merchants know about markdowns is they are best taken early and at a modest level to stimulate sales as opposed clinging too long to the belief goods will sell at full price only to realize steeper cuts are needed. Apparently this philosophy doesn’t apply in the financial services world where Target has temporarily suspended the sale of its credit card receivables portfolio on better terms.

Usually Walmart is the retailer promoting the midnight release of some hot Hollywood title, but early next month Target is taking a run at the new release strategy with the release of The Twilight Saga: Breaking Dawn – Part 1.

Fashion phenom or design darling. Whatever you call Jason Wu, he’s got a new line coming to Target Feb. 5 that could be a big deal on several levels.