The department store business is still viable, in my opinion.

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Robbins had a business analyst client who was talking to a fancy department store chain where he would have had to dress formally every day.

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As for Macy's, having another major department store sell Martha Stewart towels, pots and other merchandise could dilute its business.

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As for Macy's, having another major department store sell Martha Stewart towels, pots and other home merchandise could dilute its business.

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Its bigger rival, Metro, where Mr Urban worked for 25 years, also has a troubled German department-store chain, Kaufhof, but it has been partly redeemed by its substantial cash-and-carry business, which operates in 23 countries.

ECONOMIST: KarstadtQuelle