The parent company of Saks Fifth Avenue has agreed to buy rival luxury department store Neiman Marcus. Lynne Sladky/AP hide caption
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Shoppers walk by a sign for the Macy's department store at a mall in Long Island, N.Y. Ted Shaffrey/AP hide caption
The remains of a J.C. Penney store are seen at an abandoned shopping mall in North Carolina. The department store chain is filing for bankruptcy as coronavirus lockdowns shatter its plans for recovery. Andrew Caballero-Reynolds/AFP/Getty Images hide caption
Luxury retailer Neiman Marcus has become the first department store to declare bankruptcy during the coronavirus pandemic. Eric Risberg/AP hide caption
Macy's is cutting 2,000 jobs and closing about 125 stores, such as this one in Seattle, the company announced Tuesday. Elaine Thompson/AP hide caption
A sign announcing the store will be closing hangs above a Sears store on Aug. 24 in Chicago. Sears Holdings, which owns Sears and Kmart, said Thursday it was planning to close another 103 stores. Scott Olson/Getty Images hide caption
Sears, once the monolith of American retail, says that there is "substantial doubt" that it will be able to keep its doors open. Company shares tumbled more than 12 percent Wednesday. Above, the department store's location in Brooklyn's Flatbush neighborhood today. Bebeto Matthews/AP hide caption