This file photo from Monday Oct. 17, 2016, shows shoppers and pedestrians in a crosswalk near a giant billboard next to Macy's flagship department store in Herald Square in New York. Macy's has filed a lawsuit against the company that owns the billboard, fighting to prevent Amazon from taking over the advertising space that carried Macy's name for almost 60 years. (AP Photo/Bebeto Matthews, File)
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.
As a growing number of overweight Americans clamor for Ozempic and Wegovy — drugs touted by celebrities and on TikTok to pare pounds — an even more powerful obesity medicine is poised to upend treatment.
A California judge is ordering Tesla CEO Elon Musk to be interviewed under oath regarding statements about the safety and capability of the car maker's autopilot features.
David Wright, president and owner of Wright Financial Group LLC, joined Cheddar News to discuss Thursday's trading as stocks closed higher amid strong tech profits. But Wright says banking stress could sway markets down as the Federal Reserve could weigh more rate increases.
The Gap is laying off 1,800 corporate workers, roughly three time the number of headquarters jobs it cut last fall, as the struggling chain cuts costs in a bid to become more nimble.