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@macys announced Tuesday it plans to shut 125 stores over the next three years and slash about 2,000 corporate jobs, as it closes its Cincinnati headquarters and tech offices in San Francisco. The company plans to exit weaker shopping malls, and instead shift its focus towards opening smaller-format stores in strip centers. Macy's has closed more than 100 stores since 2015. With a small base of stores, Macy's said net sales in fiscal 2022 are expected to be within a range of $23.2 to $23.9 billion, while earnings per share, on an adjusted basis, will be between $2.50 and $3.00. Meanwhile, other retailers, which have focused on value and have provided fast online delivery have grown. Walmart's stock is up nearly 22% over the past year, while Amazon's market cap topped $1 trillion Tuesday. #macys #departmentstore #shopping #wallstreet #shares #stockmarket #jobs #sales #shares #business #photo #macysinc #technology #delivery #amazon #walmart

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