Pursuits
Macy's Woes Cast Shadow Over America's Debt-Laden Mall Retailers
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Macy’s Inc.’s decision to close 40 stores may help the company, but it could spell trouble for other highly-indebted retailers and their creditors.
The department store often pulls shoppers into malls, and when it shuts its doors, traffic can fall for the remaining retailers, Barclays Plc analysts said Thursday. Macy’s on Wednesday identified the stores it was closing, after saying in September that it planned to shutter 35 to 40 locations that were not generating enough sales.