Posted on 02/13/2017 3:02:29 PM PST by davikkm
In July of 2015, Macy’s announced they would be cutting ties with then Presidential candidate, Donald Trump over his comments about Mexican immigration. At the time their stock price was trading at apprx $72.00 per share. Today, Macy’s stock is worth $32.58 per share.
(Screenshot from Google)
GotNews reports:
Macy’s stock was trading at a recent high of $72.31 per share in July 2015, shortly after announcing that it was dropping Trump on July 1, 2015.
Today, that stock was worth just $32.90 per share — a massive 54% collapse.
As a few big name brands have droppedPresident Donald J. Trump and Ivanka Trump’s brands last week, it brought to mind one of the first to throw down the gauntlet with The Donald, Macy’s department stores. Within a month of Trump’s announcement promising to stem the tide of illegal immigrants from Mexico, Macy’s cut off its 10+ year long relationship with Trump.
(Excerpt) Read more at thegatewaypundit.com ...
Not Scott Baio...
The author draws no such conclusion in the article. However, an intelligent conclusion might be drawn that if your business is suffering because of other factors, it might not be wise to alienate a large percentage of your customer base the way that Macy’s did.
Except for guns, alcohol, and the like. You know, the GOOD stuff.
Macy’s and the Post Office in a nose dive.
When she pulled off the white cloak.....I heard a bit of support in the audience.
Passed two Macey’s stores today ... One was closing. The other was having a sale and figured they would probably be closing their doors at that location in the future. Now if there were only store closings for the Target stores I’ve been driving past lately.
The department store model has been collapsing for a long time. Penney’s is gone, Montgomery Wards is gone. Sears is circling the drain. And that’s just to name a couple. Meanwhile, back in the 90s, as loads of old line department store companies were failing, Macy’s (then known Federated Department Stores) was on a buying spree, converting them to Macy’s. Their main competitor in those acquisitions was May Company Stores. In 2005, May and Federated merged and changed the name to Macy’s Corporation. But the underlying trends that made all those acquired store lines vulnerable couldn’t be overcome by the alleged greater efficiencies of Macy’s. Plus they now had way too many redundant locations, cannibalizing each other’s sales. You have malls anchored by a Macy’s and a Bloomingdale’s, when they’re both the same company, paying huge overhead and staffing costs on two spaces and competing for the same customers. Dropping the Trump products was a splashy blip, but the writing was already on the wall.
Then we’ll have to see if we can help. Btw, not everyone who shops Nerdstoms is a celebrity. Only a company run by morons would want to PO half their customers.
That’s industrial strength stupidity no matter how ya chop it up.
The Federated Department Stores must have been local to your area. I've known Macy's stores my whole life. As I recall, the 1947 movie, "Miracle on 34th Street" featured Macy's quite prominently.
The fifty percent drop or the internet? Or both :)
Most retailers have fallen since 2015, primarily due to soft sales and competition from on-line stores. Nordstrom for example has dropped from $82 to $44 in the same time period.
Seriously?
Sounds like Macy’s “shorted” itself. I don’t know how that works but I’ll bet a bunch of ex-employees are not very pleased.
I remember that Latin phrase from my days as a high school debater-over 50 years ago!
After this therefore because of this.
I know the story behind the Macy’s star but to have it red? I cringe every time I see that red star on a shopping bag or in an advert.
Where is the shareholder derivative lawsuit?!
I DESPISE Bezos. Have relied on Amazon Prime for years. Looking for an alternative — thinking jet.com (Walmart). But I have a ton of points and other incentives with Amazon. Oh well, guess I will just dump those points and incentives. My soul is worth more than some few dollars...
Sears and K-mart just volunteered for that list, too.
No, not seriously.
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