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Macy's said it plans to close about 100 stores, or 14 percent of its store base, and would continue to seek partnerships for its flagship locations as it seeks to turn around its business after six quarters of falling sales.
Department stores have been struggling with stiff competition from online and off-price retailers. They also are under pressure as shoppers are spending more on big-ticket items, such as electronics and cars, than on clothes. Unseasonable weather in the first few months of the year and a strong dollar, which has reduced tourist spending in the U.S., have also weighed on sales.
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