Macy's to close more stores in turnaround push, stock jumps

August 11, 2016 9:47 PM

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Macy's Inc (M.N) said it plans to shutter 100 more stores, representing about 14 percent of its total, as it tries to turn around its business after six quarters of falling sales.

The closures are the latest in a long list of moves to spur growth as department stores such as Macy's continue to battle with online retailers such as Inc (AMZN.O) and discount stores like TJX Cos Inc (TJX.N).

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