Finish Line to Open Sneaker Shops in Macy's

Macy's Inc (NYSE:M) said on Friday that Finish Line Inc will open athletic shoe shops in more than 450 Macy's stores and on its web site, making Finish Line the exclusive athletic footwear partner at the department store chain.

Longer term, the deal is expect to boost Finish Line's sales by $250 million to $350 million a year, the companies said in a joint statement. Finish Line will recognize sales and corresponding profits, minus a licensing fee paid to Macy's.

Finish Line will operate more than 450 locations as leased departments starting in the spring of 2013. For about 225 Macy's stores that sell shoes, Finish Line will manage the athletic shoe assortment and inventory, also starting in the spring.