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MarketWatch reports that Macy's plans to close 35 to 40 stores that it describes as "underperforming," saying that the units represent about one percent of its total sales.

The story notes that "The locations of the 35 to 40 stores to be closed in early 2016 will be announced at a later date, once the company completes a careful analysis now under way and makes final decisions ... Macy’s, Inc. today operates 770 Macy’s stores. Over the past five years (2010 through 2015 to date), 52 Macy’s stores have been closed and 12 new Macy’s stores have been opened. In addition, six new Macy’s Backstage offprice locations are opening in fall 2015."

Meanwhile, Reuters reports that Macy's is partnering with electronics retailer Best Buy, and will in November set up Best Buy departments in 10 of its stores on a test basis.

According to Reuters, "the Best Buy shops will occupy about 300 square feet and be staffed by Best Buy employees, who will sell Samsung smartphones, tablets and smart watches and audio devices and accessories from Samsung and other brands."
KC's View:
This is an interesting confluence of events. Not surprising that Macy's would shut down some stores, especially since it has been diverting more and more resources to its online operations. And maybe the Best Buy deal is predictive of the kinds of alliances that such retailers will be creating in the future, looking to blunt the impact of the likes of Amazon and Walmart (and Jet?) by creating their own connections.