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Downsizing department stores
Macy’s is trimming its locations as department stores and malls alike dwindle.
Macy’s has left many malls already. It has closed more than a third of its namesake stores over the last 10 years. As of early May, the company had 503 Macy’s stores, including a small number of other concepts outside malls.
Other anchors have downsized or disappeared from malls, including Sears, Lord & Taylor and JCPenney.
The number of malls has shrunk as well. Real estate firms typica