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SR 1423 – Macy's Crashes After Attacking Donald Trump
Good evening, I’m still reporting on Trump.
When Donald Trump declared that he would be running for President, Macy’s declared that it was cutting ties with the Trumps and dumped Trump’s clothing line. Why? Because of his so-called “disparaging” remarks about Mexicans.
Of course, Macy’s never admitted that Trump’s remarks were never focused on the Mexican population in general – but only the worst criminals in Mexican jails who the Mexican government had released – basically across the border into the United States.
Today, Macy’s released it’s disappointing holiday sales and it’s stock crashed 9%.
The company also announced that it was closing 100 of its 678 stores which would result in job losses of over 10,000 jobs.
Back on July 1, 2015 after Macy’s started this war with our soon-to-be 45th President of the United States, the retailer’s stock stood at $67.82 per share. It now stands at about $32 per share.
Shortly after Macy’s declared war on Trump, he called for a boycott and his supporters started cutting up their Macy’s cards.
Macy’s was the 15th largest retailer in the United States for 2014 in terms of revenue. It as established in 1858 – that’s 2 years before the Civil War.
Macy’s flagship New York City Herald Square store is the second largest department store in the world, covering nearly an entire New York city block and 1.1 million square feet of retail space.
It has sponsored the Macy’s Thanksgiving Day Parade in New York since 1924.
I’m still reporting from Washington. Good evening.