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Macy’s to sell Stonestown Galleria store

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Macy’s on Wednesday announced plans to sell its Stonestown Galleria store in San Francisco as the department store giant is preparing a “significant restructuring” of the company that includes the closure of 68 stores.

The store closures are meant to help “streamline its store portfolio, intensify cost efficiency efforts and execute its real estate strategy,” the company said in a news release.

The Stonestown store will be sold to General Growth Properties, but Macy’s will lease the store back from the owner as the company develops a plan for that location.

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