A report by the New York Post says that J.C. Penney CEO Myron "Mike" Ullman has decided to end the department store's deal with Martha Stewart, regardless of what a judge decides in Macy's suit against the celebrity.
Mr. Ullman, according to an unnamed source, said Ms. Stewart's products are not selling that well and the designs aren't anything special.
The 10-year, $200 million deal with Ms. Stewart was signed by former Penney CEO Ron Johnson. Earlier this year, a judge ruled that some of the Martha items sold by Penney could not bear her name since it was in conflict with Ms. Stewart's previous deal with Macy's. Mr. Ullman has spent much of his time since returning to Penney as CEO trying to undo actions taken by his predecessor.
A spokesperson for Martha Stewart Living Omnimedia disputed the Post report. According to FOXBusiness, Ms. Stewart "has no intention" of ending the deal with Penney.
Should J.C. Penney stick with Martha Stewart or dump the brand?