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Macy's May Redevelop More Stores

Faced with sharply declining profits, Macy's said it struck a deal with a private investment firm to weigh redevelopment options for at least 50 key assets — primarily stores in malls not controlled by major mall property owners. Net income in the third quarter tumbled from $118 million a year ago to $18 million and sales were down 4.2%.

Read the whole story at USA Today »

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