Macy’s Inc. said it would close 100 additional stores, representing about 15% of its store base and roughly 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 during the past year as results have disappointed investors. Macy’s shares gained 17% to $39.97 Thursday in New York trading, but the stock is still down 42% over the past 12 months.

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