CLOSING TIME: J.C. Penney Co. Inc. and Martha Stewart Living Omnimedia Inc. rested its case Thursday in its trial against Macy’s Inc.

The two-month trial had been scheduled to continue Friday, but Penney’s and MSLO decided to cancel testimony from expert witnesses. What remains outstanding in the contract dispute case are the scheduling of closing arguments and the submission of post-trial briefs.

Macy’s, which sued MSLO and Penney’s last year, is ultimately looking for a permanent injunction, barring Penney’s from selling both unbranded and branded goods designed for the department store by Martha Stewart.

Penney’s, which owns a 16.6 percent stake in MSLO, is hoping to go forward with the sale of those wares. Currently, presiding New York Supreme Court Judge Jeffrey Oing has banned Penney’s from selling Stewart branded goods until he renders a final decision. He has allowed the retailer to sell unbranded goods bearing the “JCP Everyday” and “double-house” logos that were designed by Stewart, however. That decision is has been appealed by Macy’s and will be argued before a panel of Appeals court judges in the future.

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Also still at issue is whether Penney’s can sell certain Stewart branded plastic party wares such as pitchers and cups. This issue will be hashed out by Oing when he renders his final ruling, following closing arguments, which he indicated would take place some time in May.