Finish Line sees Macy's partnership generating $175M-$195M in sales this FY Says optimistic about near and long-term growth prospects. Says will improve digital capabilities. Says will continue with mutli-year core upgrade to supply chain systems. Says will ramp up Macy's (M) partnership by opening up 220 more doors this year, says plans to complete rollout ahead of holiday season. Says committed to returning capital to shareholders. Says Macy's is expected to be "modestly accretive" this year. Sees Running Specialty Group breakeven this year. Sees FY CapEx $90M-$95M.
J.C. Penney downgraded to Sell from Neutral at UBS UBS downgraded its rating on J.C. Penney (JCP) shares to Sell saying the company's 2017 EBITDA target of $1.2B is overly optimistic as it assumes years of market share gains against strong competitors like Macy's (M) and Kohl's (KSS). UBS halved its price target for Penney shares to $5 from $10. The retailer's stock closed Friday down 52c to $7.12.