Content about Macy's

Cincinnati -- Macy’s reported increases in sales and income for the first quarter of 2013 compared to the same period a year earlier, despite cool weather that delayed spring shopping in key markets. Net income was $217 million, a 20% hike from $181 million in the year-ago period.  

While net income slightly beat analyst predictions, same-store sales rose 3.8%, short of the 4.3% expected by analysts. Net sales totaled $6.39 billion, up 4% from $6.14 billion in the year-ago period.

New York -- J.C. Penney Co. can continue to sell a line of Martha Stewart home goods it introduced last week under "JCP Everyday" brand pending the outcome of a trial with Macy's, a New York appeals court ruled on Tuesday.
 
The court denied Macy's request for a preliminary injunction blocking sale of the goods while a court battle continues over rights to the products.  
   

New York -- The latest round in the battle between Macy’s and J.C. Penney over the sale of Martha Stewart goods went to Macy’s, which on Monday challenged a judge’s decision on Friday to allow certain non-branded Martha Steward items to be sold — at least temporarily — in J.C. Penney stores under the JCP Everyday label.

New York -- A New York State Supreme Court Judge ruled on Friday that J.C. Penney’s could temporarily sell certain housewares products from Martha Stewart Living in Penney stores. The ruling allows Penney to sell the product under the “JCP Everyday” label until a final decision comes at the end of the trial.

New York -- Macy’s and J.C. Penney are slated to be back in New York state court on Monday unless a last-minute settlement regarding Macy’s right – or not – to sell certain Martha Stewart products is reached.

The two retailers are coming out of a month-long mediation stint, but so far no settlement has been reached.

According to a Monday report by Reuters, witness are scheduled to be on the stand Monday and Tuesday, including J.C. Penney marketing executives.  

New York -- The fight over Martha Stewart resumed with both Macy's and J.C. Penney Co. back in a New York court on Monday. The trial, over whether Macy's has an exclusive right to sell select Martha Stewart home goods items, resumed after a month-long mediation effort failed to yield a settlement.

On Monday, Macy’s alleged Penney has begun selling some items on its website that infringe on Macy’s exclusive deal with Martha Stewart.

New York -- Macy's CEO Terry Lundgren had a pay package worth $11.3 million in 2012, down 22% from 2011, the Associated Press reported.

Lundgren had a salary of $1.6 million stock and options awards worth $7.7 million, and perks worth about $76,000. The decline came from a 63% smaller cash payment for performance, the report said.

Macy's said the CEO beat the profit expectations for the year but fell short on cash flow, due to a big merchandise purchase at the end of the fiscal year.

Expect no prophesying about the death of enclosed malls. The format is alive and well, and there are countless examples of thriving under-roof shopping centers around the country.

Still, there is no question that the open-air format has stolen mall thunder.

New York -- After nearly three weeks of testimony, a New York State Supreme Court Judge ordered Macy's, J.C. Penney Co. and Martha Stewart Living Omnimedia into mediation to try and reach a settlement in their contract dispute trial.
 
If the three companies do not reach an agreement before April 8, the judge will resume hearing the case.
 
In another development in the ongoing dispute, Penney agreed not to sell certain Martha Stewart-designed goods (products deemed exclusive to Macy’s) until at least April 8.

New York -- J.C. Penney Co. last Tuesday dominated the retail news as its shares dropped 10.6% to a four-year low after reports that one of its largest shareholders had sold a chunk of the troubled company’s stock. And in a late afternoon report, The Wall Street Journal said that a group of Penney directors is ready to get rid of CEO Ron Johnson, or push to sell the chain unless he can stop the company’s heavy bleeding this year.

Cincinnati -- Macy's earned a better-than-expected $730 million in the fourth quarter, compared with $745 million a year earlier when it booked one-time gains from the sale of store leases. The department store retailer forecast an annual profit for the recently completed year that surpassed analysts’ estimates and provided new guidance for continued growth and progress for 2013.