Macy’s shares gained 17.25% to $39.88 Thursday morning, but the stock is still down 42% over the past 12 months. Macy’s Inc. said it would shut 100 more stores, representing about 15% of its store base and about 4% of its annual revenue, in the retailer’s latest move to contend with falling foot traffic and sliding sales. The company’s stock has tumbled over the past year as results have disappointed investors.

Source: Wall Street Journal August 11, 2016 12:32 UTC