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Thread: A year after Trump's boycott call, Macys to close 100 stores

  1. #1

    A year after Trump's boycott call, Macys to close 100 stores

    A sad milestone for Macy's. Perhaps Hillary should call on people to shop at Macy's to negate Trump boycott call:

    Macy's Is Closing 100 Stores. Where Did All of Its Customers Go?
    Blog-Slate Magazine (blog)-5 hours ago

    Macy's, Struggling to Draw Shoppers, Plans to Close 100 Stores
    In-Depth-New York Times-1 hour ago

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  3. #2
    And.....the stock went up 17% on the news. Green shoots!
    "Let it not be said that we did nothing."-Ron Paul

    "We have set them on the hobby-horse of an idea about the absorption of individuality by the symbolic unit of COLLECTIVISM. They have never yet and they never will have the sense to reflect that this hobby-horse is a manifest violation of the most important law of nature, which has established from the very creation of the world one unit unlike another and precisely for the purpose of instituting individuality."- A Quote From Some Old Book

  4. #3
    Macy's boycott? Macy's is "weak on border security and stopping illegal immigration"? I had no idea that department stores had that responsibility.

    Note- all department stores are having the same problems as Macy's. It isn't the Trump boycott. People shop more online than going to the mall compared to what they used to. 0

    Nordstrom's stock price:

    The closures represent about 15% of their stores.

    Macy’s to Close 100 Stores as E-Rivals and Discounting Hit Legacy Retailers

    The great American consumer is very much alive. It’s just that people aren’t shopping like they used to, reluctant to pay full price or even leave the couch — cutting deep into the business of many top retailers.

    For legacy stores, the fallout from this shift has been profound, perhaps never more apparent than this week. Macy’s, the country’s largest department store, said on Thursday that it would close 100 stores, saying they were more valuable as real estate properties. Walmart, the world’s largest retailer, announced on Monday that it would buy a small online rival for more than $3 billion. The hope is that the deal will reverse its sputtering online growth.

    Other retailers have taken aggressive action, too, trying to turn their fortunes around. Billions of dollars have been poured into e-commerce efforts. Stores have turned to sharp discounting, temporarily lifting sales but hurting profits and upsetting partners.

    But almost always, these efforts have led to mediocre results. And the decisions by Walmart and Macy’s, two towering figures in the industry, have sent a clear message: The pressure to keep up with customers is at a boiling point.

    “These legacy players are having a terrible time navigating through that shift successfully,” said Mark A. Cohen, the director of retail studies at Columbia Business School.

    For decades, Americans have relied on the country’s dense footprint of shopping centers and department stores for their prom dresses, paper towels and everything in between. Often, they were willing to drive to the mall, pay full price or wait for annual sales to get a deal.

    But that has been transformed in the last decade, with the meteoric rise of the online giant Amazon, discount and low-cost stores like T. J. Maxx gaining popularity, and a long recession that reset the value of a dollar.

    People continue to spend. In the spring, household spending rose at an annualized rate of 4.2 percent, driving overall economic growth. But more and more, they now want bargains and convenience — in stores and online — and know how to find them.

    “Given the convenience of e-commerce, the consumer needs a really good reason to go to a store and park their car,” said Edward Yruma, a managing director at KeyBanc Capital Markets. “It has to be exciting and have something new, because if not, why wouldn’t I sit on my couch in my pajamas and shop on my iPad?”
    More at link.
    Last edited by Zippyjuan; 08-11-2016 at 07:54 PM.

  5. #4
    I guess not everything's coming up roses as you so often insist, is it, Zippy?! Also? You are the lamest lame that ever lamed. Sad!

    The pic on this one still makes me laugh:

    Based on the idea of natural rights, government secures those rights to the individual by strictly negative intervention, making justice costless and easy of access; and beyond that it does not go. The State, on the other hand, both in its genesis and by its primary intention, is purely anti-social. It is not based on the idea of natural rights, but on the idea that the individual has no rights except those that the State may provisionally grant him. It has always made justice costly and difficult of access, and has invariably held itself above justice and common morality whenever it could advantage itself by so doing.
    --Albert J. Nock

  6. #5
    Seems controversial fopc has some problems of his own after 4th place finish with 18-24 and minorities:
    BLOWBACK: Donald Trump Is Ruining His Brand For Years To Come
    “I don’t think that there will be any curtailing of Donald Trump as president,” he said. "He controls the media, he controls the sentiment [and] he controls everybody. He’s the one who will resort to executive orders more so than [President] Obama ever used them." - Ron Paul

  7. #6
    Good thing he didn't endorse them, they'd really be in trouble.

    Bookings At Trump Hotels Plummet By More Than Half

  8. #7
    Correlation is not causation, friend.

  9. #8

    Quote Originally Posted by Zippyjuan View Post

    While there are macro changes impacting retail, there seems to be something unsual about Macy's steep and sudden fall and the timing.
    In 3 months immediately after Trump tweet (July-Aug-Sep), Macy's stock was cut in half almost.
    For same period, Nordstrom stock actually went slightly up or stayed same based on chart you posted.

    Around same timeframe, there were news of surge in sales of Trump-ware.

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  11. #9
    Quote Originally Posted by Antischism View Post
    Correlation is not causation, friend.
    I can't believe this even needed to be said. Nordstrom, Dillards, and Macy's are all down between ~35-39% from their 52 week highs. BonTon is down 66%. Did all of Trump's followers just stop shopping at all department stores because he said to boycott Macy's? Or maybe he isn't as powerful as some of his minions believe.

  12. #10
    Quote Originally Posted by Pizzo View Post
    I can't believe this even needed to be said. Nordstrom, Dillards, and Macy's are all down between ~35-39% from their 52 week highs. BonTon is down 66%. Did all of Trump's followers just stop shopping at all department stores because he said to boycott Macy's? Or maybe he isn't as powerful as some of his minions believe.

    Add to this that his supporters are taking pleasure in the fact that an authoritarian wanted to ruin a business because they were "disloyal" to him by dropping his menswear line. Just imagine what that would look like with the power of the Presidency behind him!!

    Refusing to comment on what Trump said, Lundgren told CNBC's "Squawk Box" that Macy's made a decision on "not carrying any product from any candidate, ever."

    "If Hillary Clinton had a handbag collection we won't carry that either," he said.
    "And now that the legislators and do-gooders have so futilely inflicted so many systems upon society, may they finally end where they should have begun: May they reject all systems, and try liberty; for liberty is an acknowledgment of faith in God and His works." - Bastiat

    "It is difficult to free fools from the chains they revere." - Voltaire

  13. #11

    Stupid ad wth voice keeps crashing my browser. This 2m video needs to be added to the discussion

  14. #12
    Among things (American/Right Institutions) MAGA revolution crashed:
    Macys, NRA, Foxnews, pro-DOMA Churches, Steven Bannon... GOP could join the list too potentially in near future.

    Macy's could be on sharp reversal trajectory in coming months/years with arrival of Vaccine+Boden , depending on other macro conditions. At $10 and change now, it's still far away from levels when Trump led boycott started.

    Macy's Stock Is Soaring Today
    A string of positive developments is lifting the retailer well beyond its peers.
    Nov 23, 2020
    Shares of Macy's (NYSE:M) were soaring 17% higher as more good news on a COVID-19 vaccine was released.

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