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Grand buildings help keep Macy's afloat

Macy's Herald Square in New York in early 1900s. The flagship store on 34th Street is worth an estimated US$3.3 billion.

New York

THE Macy's Thanksgiving Day Parade is an indelible holiday tradition. But the company that has sponsored the parade for nearly a century is being tested like the SpongeBob balloon in a strong wind.

Battered by e-commerce competition, Macy's sales have fallen for 11...

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