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Macy’s Sells Five Stores to GGP, Offers Potential Clues to Future Store Closures

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Macy’s Inc. (NYSE:M) sold the first five of approximately 100 stores it plans to close as part of its previously-announced plan to return to profitable growth by monetizing some of its real estate portfolio and reinvesting in stores with higher sales potential and in its digital businesses.

This week’s sale to General Growth Properties also provides clues in the retailer’s criteria for evaluating which of its 675 stores it will decide to close…

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