Appeals Court Rules In Favor Of Macy's Against JC Penney

Two claims against J C Penney Company Inc

were revived in a New York state appeals court Thursday. At issue was a claim by Macy's, Inc.

that J C Penney violated an "exclusivity" clause in a contract Macy's had with Martha Stewart Living Omnimedia, Inc.

. In 2011, J C Penney and Martha Stewart entered into a agreement to "sell a line of home goods bearing the name of the homemaking doyenne," according to Reuters. Macy's claimed that it had already made an agreement with Martha Stewart 5 years earlier for the sale of similar products. http://www.reuters.com/article/2015/02/26/us-macys-jcpenney-marthastewart-idUSKBN0LU22B20150226 The lower court erred in June of 2014 when it dismissed Macy's claims that "the alleged interference amounted to unlawful competition," according to the determination of the appeals court. Martha Stewart Living Omnimedia, Inc. recently traded at $4.75, down 0.21 percent. Amid the news, J C Penney Company Inc traded higher and was up 1.22 percent to $9.10. Meanwhile, Macy's, Inc fell 0.98 percent to $62.96