Macy's is closing

Investor's Business Daily

Macy's (NYSE:M) is closing five of its namesake department stores and one Bloomingdale's location, with clearance sales beginning Sun. and Mon. The underperforming stores are in Pasadena, Calif.; Las Vegas; Houston; St. Paul, Minn.; Belmont, Mass.; and Honolulu. After the closures, the firm will have about 850 locations. Shares rose 1.2%.

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