Macy's has filed a lawsuit against the company that owns the giant billboard next to its flagship Manhattan store, fighting to prevent Amazon from taking over the advertising space that carried Macy's name for almost 60 years.

In the lawsuit, filed last week in state Supreme Court in Manhattan, the department store retailer said there has been a restrictive covenant in place since 1963 barring the billboard space from being used by any Macy's competitor.

But Macy's said that when it tried to negotiate a lease renewal this year, the billboard's owners, the Kaufman Organization, told them they were in discussions with a “prominent online retailer," and there was “little doubt" that meant Amazon, according to the lawsuit.

Messages were left with the Kaufman Organization seeking comment. Amazon had no comment.

In the lawsuit, Macy's asked the judge for an injunction that would keep Kaufman from leasing the space to Amazon or any other competitor.

“The damages to Macy’s customer goodwill, image, reputation and brand, should a ‘prominent online retailer’ (especially, Amazon) advertise on the billboard are impossible to calculate," the company said in the lawsuit.

The lawsuit pointed out that the billboard is highly visible in its annual Thanksgiving Day parade, which is nationally televised.

Share:
More In Business
Analysts Discusses Week's Market Losses Amid Banking Concerns, Inflation
Wall Street saw another day of losses in the market amid continued concerns over the banking sector and as investors digest the latest inflation data. Francis Oh, Asia-Pacific CEO of Qraft Technologies, joined Cheddar News to break down what can be expected with the Federal Reserve's move on interest rates and what to look out for with A.I. stocks, which are seeing big gains.
Peloton Recalling 2.2 Million Exercise Bikes
Peloton is recalling more than 2 million exercise bikes over a safety concern with its bike seat post, and the Consumer Product Safety Commission said it's received some injury reports.
Load More