Macy’s may want to rethink crossing GOP nominee Donald Trump.
It was a year ago now that the massive retailer, which once sold Trump products, said it was cutting ties with the New York business mogul for his “disparaging” remarks about Mexicans.
But now, it seems that Macy’s is taking a hit.
Back in 2015, when Trump first announced that his supporters should boycott Macy’s, the store’s stock price was at $67.82 per share, according a WND report. Now, just a year after Trump called for a boycott, the company’s stock price is at $31 a share.
And that’s not the only problem for Macy’s.
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.
Macy’s recently avoided a strike, though many of its issues with the Retail, Wholesale and Department Store Union remain to be settled.
And last week, Terry Lundgren, who has been CEO for 13 years, announced he will step down from the top job as Macy’s struggles to adjust.
Looks like Trump really did get the last laugh.
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