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Meanwhile, Amazon Is Everywhere
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A new study suggests that the remaining big department store chains need to close a quarter of their stores to get sales back to 2006 levels. But here's the thing that's buried in the article: A lot of these stores remain profitable, just not AS profitable. The study is about productivity and sales, not profit. And studies advising widespread closings are sacrificing jobs in order to achieve a number that's basically a target pulled out of an analyst's ass. Yeah, Sears is toast, but Penney's actually is making a comeback, so it's not impossible. (Fortune)
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