“Let’s go by what Macy’s told us themselves in their most recent earnings calls,” said Egelanian, president of SiteWorks in Baltimore, Maryland. “They generate half of their volume from 150 of their stores. Their volume is just under $25 billion. If 150 of its stores generate $12.5 billion in sales, the other 500 also does $12.5 billion. If you do the math, it's not sustainable."