Macy’s, one of the first major companies to break ties with and publicly assault Donald Trump for his remarks on illegal aliens, had to deliver brutal news to thousands of employees today after announcing the closure of a whopping 100 stores.
(Breitbart) Macy’s Inc. will close about 100 of its 728 stores, beginning in early in 2017, the company announced Thursday.
A company statement said it will “concentrate its financial resources and talent on our better-performing locations to elevate their status as preferred shopping destinations. Stores will remain critical customer touchpoints for Macy’s, along with online shopping and mobile apps.”
The announcement comes as Macy’s revenue decreased 3.9 percent in the second quarter of 2016, and sales in the first half of 2016 totaled $11.637 billion, down 5.9 percent from the comparable 2015 period. Another Macy’s statement cited the closing of 41 underperforming stores in 2015.
Trump fans and capitalism-loving Americans launched a boycott of the major retailer last year after they publicly broke up with Trump, leading to a noticeable slide in stock prices. It was only a matter of time before the loss of revenue finally forced them to make a decision that’s all too familiar in President Barack Obama’s America — closing down.
— Unclejohny (@Metalbones59) August 11, 2016
Perhaps other big box retailers — who struggle to do business as it is in modern times thanks to the internet — will learn that mixing ideology with business almost never works.
Our thoughts about Macy’s? Good riddance.