J.C. Penney CEO throws in towel on Martha Stewart
J.C. Penney's fraught relationship with Martha Stewart is over, according to the New York Post. CEO Myron "Mike" Ullman — whose ousted predecessor, Ron Johnson, had seen the Martha Stewart–branded lines as a direct assault on rival department-store chain Macy's, which had a pre-existing partnership with the celebrity taste maker, and part of a concerted effort to appeal to a more upmarket shopper — pulled the plug.
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