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Macys

Macy's isn't facing a retail apocalypse. It's facing a shrinking middle class.

by Kristin Schwab
Mar 6, 2024
Department stores were created to serve an income group that's declining while the poorer and wealthier cohorts expand.
Macy's is one of the retailers that have downsized in recent years. Gap, Foot Locker and Bed Bath & Beyond have also struggled. 
Justin Sullivan/Getty Images
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