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Summary.
No industry is failing faster than retail. Just last month, the 125-year-old Sears—once the world’s largest retailer—filed for bankruptcy. The public has more or less come to expect the shuttering of stores such as Macy’s, Sears, Toys ‘R’ Us, Kmart, Kohl’s, J.C. Penney, and Barnes & Noble. The ones that manage to escape are discount chains—such as T. J. Maxx and Marshalls—which compete aggressively on price.
