Triggar
2004.04.26, 1905
Oh Sweet Relief! (http://moneycentral.msn.com/content/invest/extra/P81938.asp?GT1=3256)
[/b]e News]Kmart (KMRT, news, msgs) and Martha Stewart Living Omnimedia (MSO, news, msgs) on Monday said they amended the terms of their deal covering the sale of Martha Stewart Everyday merchandise in Kmart stores and extended it through 2009.
Kmart also agreed to drop a lawsuit filed earlier this year that demanded an additional $4 million on Martha Stewart products it had sold in 2003.
the two-year extension comes less than two months after company founder Martha Stewart was found guilty of lying to investigators over a suspicious stock sale. Stewart resigned as a board member and officer of Martha Stewart Living on March 15, but she remains at the company as founding editorial director. She is scheduled to be sentenced June 17.
the relationship between the two companies was already strained after Kmart became the largest retailer to file for bankruptcy in January 2002. Kmart emerged from Chapter 11 protection in May 2003 after closing 600 of its 2,100 stores, leaving a smaller sales base for the Martha Stewart goods.
[/b]e News]Kmart (KMRT, news, msgs) and Martha Stewart Living Omnimedia (MSO, news, msgs) on Monday said they amended the terms of their deal covering the sale of Martha Stewart Everyday merchandise in Kmart stores and extended it through 2009.
Kmart also agreed to drop a lawsuit filed earlier this year that demanded an additional $4 million on Martha Stewart products it had sold in 2003.
the two-year extension comes less than two months after company founder Martha Stewart was found guilty of lying to investigators over a suspicious stock sale. Stewart resigned as a board member and officer of Martha Stewart Living on March 15, but she remains at the company as founding editorial director. She is scheduled to be sentenced June 17.
the relationship between the two companies was already strained after Kmart became the largest retailer to file for bankruptcy in January 2002. Kmart emerged from Chapter 11 protection in May 2003 after closing 600 of its 2,100 stores, leaving a smaller sales base for the Martha Stewart goods.