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" ... Let us further assume that store traffic will be sparce, since many customers like shopping on-line at Macy’s. So, let us assume that the Macy’s total business will be about $24 Billion by 2023; minus $10 Billion via digital means a total of $14 Billion comes from physical stores. That means that 479 stores will each do an average of just under $30 Million. That means, in my opinion, that some stores will still have to be closed in order for the company to have profitable growth. Ultimately it is profitable performance that will keep Macy’s in a leadership position. ... "