“"In many ways, the decline of Macy's, as well as the pulverization of the stock of discount chain Kohl's after a terrible quarter and guidance today, is like what happened to the newspaper industry and the book store space," he said. Cramer explained that ‘both Macy's and Kohl's saw the Internet coming, but assumed it wouldn't impact them because they thought they were ‘something special.’ Then they thought they could beat the web by joining it.’”

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