March 21 Department store J.C. Penney Co Inc
said it does not expect the outcome of its pending
lawsuit with retailer Macy's Inc over a home products deal
with Martha Stewart Living Omnimedia Inc to have a
material adverse impact on its results.
Macy's sued Penney and Martha Stewart Living after the two
announced a partnership in December 2011, saying that the
agreement breached its contract with Martha Stewart that
included exclusive rights to Martha Stewart-branded cookware,
bedding and bath products.
"While no assurance can be given as to the ultimate outcome
of this matter, we currently believe that the final resolution
of this action will not have a material adverse effect on our
results of operations, financial position, liquidity or capital
resources," Penney said in a regulatory filing on Friday.
Martha Stewart Living said in January it settled a lawsuit
with Macy's over the home products deal with Penney.
Penney's shares closed at $8.49 on the New York Stock
Exchange on Friday.
(Reporting by Maria Ajit Thomas in Bangalore; Editing by Maju