On Thursday, brick-and-mortar retail suffered another heavy blow whenMacy’s Inc M 0.03% announced it’s closing another 100 stores. The Macy’s closures represent about 15 percent of the company’s total number of department stores.

More retail store closures is yet another victory for e-commerce retail giant Amazon.com, Inc. AMZN 0.17%, which has single-handedly taken a huge bite out of the brick-and-mortar retail market.

However, retail stores aren’t quite dead just yet, and the Macy’s store closings could be a positive for some of its top competitors.

J C Penney Company Inc JCP 6.14% CEO Marvin Ellison addressed the impact of Macy’s and Sears Holding Corp SHLD 2.99% closings on J C Penney’s recent conference call.

“When Sears closes in a mall that we’re in, it’s a net positive for JCPenney. Our sales increase. In some of the most recent Macy’s closures in malls in which we occupy, it’s been a net positive for JCPenney,” Ellison explained.

Other beneficiaries from the Macy’s closures likely include…

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