Macy’s Stock In Free Fall Since Dissing Trump

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Corporate America is learning a lesson: Don’t cross Donald Trump, World Net Daily reports.

One year ago, Trump upended American politics when he declared he was a candidate for president.

Macy’s promptly declared it was cutting ties and dumping Trump’s clothing line because of “disparaging” remarks about Mexicans.

Trump fired back, declaring the company supports illegal immigration. His supporters even shredded their Macy’s credit cards and tens of thousands called to complain about the company’s cave to political correctness. Trump himself also called for a boycott of the company.

From the vantage of June 2016, it appears Trump has had the last laugh.

Trump is now the presumptive Republican candidate for president of the United States. Meanwhile, Macy’s stock price has plummeted.

When Trump first called for the boycott on July 1, 2015, Macy’s stock price stood at $67.82 per share. In less than a year, the stock has lost more than half its value, now standing at just over $31 a share.

And the company’s problems go beyond its stock price.

It reportedly is suffering a year-over-year operating income decline of 40 percent, a 4.4 percent drop in revenue, and a comparable-sales decline of 3.2 percent. Experts claim the company’s decline is as dire as anything suffered during the economic crisis of 2009. Read more at World Net Daily.

 

{Matzav.com}

3 COMMENTS

  1. Good for Macys. If they are stupid enough to cut off their nose to spite their face, they deserve everything that’s coming to them. Liberalism never works in a business structure. A corporation should be in the business of making money, not standing on a soap box.

  2. It has little to do with Trump and more to do with the decline in popularity of shopping malls where most Macys stores are located, competition from lower priced stores, and competition from internet retailers. The strong dollar also does not help as some of Macy’s biggest stores get a lot of foreign tourist traffic.

    WorldNetDaily is a conspiracy theory site that should never be given any credibility.

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