Macy's says will stop breaking out online sales growth figures this year Says to add 13 Millennial brands this year, will expand 11 others. Sees FY13 tax rate 36.95%. Expects to make $150M pension contribution during the year. Comments made on the Q4 earnings conference call.
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.