When 1 Macy's Store Isn't Enough

Sales have been on the decline at Macy's (NYSE: M) for nearly three years. As a result of this disappointing trend, the company has been closing stores at a steady pace. Between late 2015 and early 2016, Macy's closed 40 stores. It has closed more than five dozen additional full-line stores in 2017. Macy's has sold off many of these store buildings to mall owners and other third parties to cash in on their real estate value.

Despite this downsizing, there are still dozens of malls across the U.S. that have not just one but two -- or even three -- Macy's stores. Let's take a look at the origins of this bizarre situation and whether it represents an opportunity for Macy's.

Some malls have multiple Macy's stores because the company outgrew its original building or could not find enough space in one location. However, more often, the existence of multiple Macy's stores in the same mall can be traced to the company's long history of mergers, the last of which was the Federated-May Company merger of 2005.

Source: Fool.com