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The closures represent a significant blow not only to employees but to the overall economy. As consumers increasingly turn to online shopping, physical stores struggle to remain profitable. With stores like Big Lots and Party City also announcing closures, the combination of lost jobs and dwindling shopping options generates uncertainty among potential homebuyers and families planning for the future.
Macy’s has reported a continuous decline, losing money over the last ten quarters and suggesting that even more closures may follow. The plan involves closing 150 "unproductive" stores, with the recent 66 representing just a fraction of that total. Similar concerns have arisen at Kohl’s, which is also shuttering a fulfillment center, effectively displacing a significant number of workers.