Macy's to close 100 stores as big-box retailer shrinks further

August 11, 2016 12:44 PM

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Macy's (M) will close approximately 100 stores next year as the department store continues to pare back its business in the face of changing shopping patterns and more online competition.

The company announced a series of strategic changes Thursday aimed at setting up the retailer for more sustained growth in the future. The plan includes bringing in more brand shops within the stores, improving online search and ordering, and hosting in-store events to drive traffic.

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