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Grand buildings help keep Macy's afloat

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Published Thu, Nov 23, 2017 · 09:50 PM

    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 consecutive quarters, and its stock price has plunged about 41 per cent this year.

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