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Retail malaise puts pressure on US chains to shutter more stores

Mall traffic slowing; consumers making more purchases online

Macy's reported disappointing sales in the holiday period, and the company announced a plan to slash 6,200 jobs. It previously said it would close 100 stores, with 68 of those shutting down this year. That move will eliminate an additional 4,000 jobs.

New York

REELING from a shaky holiday season and slowing mall traffic, US retailers are facing increasing pressure to close stores as more of their business migrates to the Internet.

More than 10 per cent of US retail space, or nearly one billion square feet, may need to be closed...

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