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Macy’s to Close 100 Stores Next Year

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Macy’s said Thursday that sales at its department stores open at least one year declined 2 percent in the second quarter, and announced plans to realign its business to cater to an omnichannel consumer that includes closing roughly 100 stores.

Most of the closures, which represent about 14 percent of the company’s total portfolio, will take place in early 2017, with the remainder shuttering as leases and certain operating covenants expire or are amended or waived.

Read more at Sourcing Journal.

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