TRUMPED !! – Macy’s Will Close 40 Stores After 4.7% Drop In Holiday Comparable Sales – Drops Earnings Forecast 12%…

Oh My…  Cold Anger Consequences – It appears Macy’s decision to attack Donald Trump in July 2015 has left them in a very compromised position.  Macy’s has dropped their 2016 earnings forecast an additional 12%.  This is on top of the forecast drop from last November…

macy boycott 2(Via LA Times) After a disappointing holiday season, Macy’s Inc. said Wednesday that it planned to cut about 4,800 jobs and close 40 stores as part of efforts to slash costs.

The department store chain, which is closely associated with the holiday season, said comparable sales for November and December 2015 dropped 4.7% compared with the previous year.   […]  Terry J. Lundgren, Macy’s chief executive, described the holiday season as “challenging.”

[…]  On Wednesday, Macy’s, which operates both Bloomingdale’s as well as its namesake chain, said it planned to cut about $400 million in expenses. That includes slashing about 3,000 jobs at stores and 165 executive positions. A call center in St. Louis will be closed. Some of those whose jobs are eliminated will be moved to other positions.

“We believe we can operate more effectively with an organization that is flatter and more agile,” Lundgren said.

The 40 locations that will be closed represent about 5% of Macy’s overall store count.

[…]  Macy’s also lowered its earnings guidance for the fourth quarter to $2.18 to $2.23 a share from previous guidance of $2.54 to $2.64 a share. (read more)

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236 Responses to TRUMPED !! – Macy’s Will Close 40 Stores After 4.7% Drop In Holiday Comparable Sales – Drops Earnings Forecast 12%…

  1. coeurdaleneman says:

    Retail in downtown Spokane across the border was pretty tenuous before this. Only about two blocks of nationally named outlets.

    The Macy’s that is abandoning its prime location there is the second-largest one among the list of the closures (Pittsburg towers over the rest). That is going to make a black hole in that town. Considering the fact that urban Spokane politics there has recently been drifting liberal, all that I can say is Bwha ha ha. Let the lib city council deal with the blowback of taking on Trump.

    Liked by 2 people

    • Rhodin says:

      I remember when they bought out Kaufmann’s. People were pissed when they renamed the chain, especially the downtown location that was closed recently.

      Liked by 1 person

  2. tammy says:

    Glad Macys feeling the crunch! Don’t mess with The Donald! Can’t change Washington but I can change where I spend my $! TRUMP/USA!

    Liked by 4 people

  3. Felipe says:

    Is that Mao’s star?

    Liked by 1 person

  4. Johnny Merc says:

    Macy’s sales were already down before they dropped the Trump line. This has been a trend for several years at Macy’s and other retailers. Many people don’t shop at stores any more (I don’t). When they see something they like, they snap picture of it and look for it online for less money. Other stores like Best Buy have the same problem.

    And oh, what an Ego Trump has to think he was solely responsible.

    Liked by 1 person

    • joshua says:

      uh….Trump did not claim to be responsible for Macy’s issue, he pointed out the CITIZEN’s response to Macy’s chosen course of action….and everyone gets to draw THEIR OWN conclusion…so many people try to attribute statements directly to Trump, when they are comments made by media or politicos or competitors…..thank the Lord for Trump’s EGO….and that it is opposite in direction to the EGO of OBAMA.

      Liked by 2 people

    • MTeresa says:

      That may be true. Most brick & mortar store are hurting and have been for a while. So even more reason not to piss off your customers by making a political stand like what Macy’s did. Maybe my little act of not spending my disposable income at their establishment wasn’t the straw that broke the camels back, but it did give me some satisfaction that I was able (in my small way) to support Mr. Trump.

      Liked by 3 people

      • flova says:

        Agreed. And they pandered to Hispanics and minorities(specifically Obama’s dancing partner)

        http://www.americanthinker.com/blog/2015/07/i_love_my_country_more_than_macys.html

        Like

      • squid2112 says:

        Precisely why my wife and I don’t frequent Starbucks anymore. I have never understood why a business, or an actor, would publically vocalize their political views. As soon as you do, you are alienating potential customers. In the case of actors, their image is their brand and their product. Why would anyone be so stupid as to alienate their customers?

        In the case of Starbucks, had I been a significant shareholder, I would have sued them for conspiring against me and purposefully degrading my stock value by alienating their customer base.

        Some people just have no business sense whatsoever.

        Liked by 1 person

        • ebrown2 says:

          The answer for “American” actors is that the big money for movies lies in overseas sales these days, so they don’t feel the need to hide their oikophobic America-hatred.

          Like

    • tempo150101 says:

      I believe that is the correct answer. The anti-Macy’s blowback about Trump may be about 10% or 15% of the drop in sales. The rest of the answer are the general trends in the department store business and that Macy’s has basically become JCPenney with uglier merchandise (trying too hard to be fashionable) and higher prices. JCPenney store brand stuff, such as St. John’s Bay, at least uses cotton!!! Last time I checked, Alfani was polyester and I have a leather coat from there where the leather on the sleeve just became unglued.

      As for the rest of the store, Tommy Hilfiger is essentially a Macy’s store brand. Nautica and Ralph Lauren? Who cares?

      Remember Dustin Hoffman’s line, “Kmart sucks!” from the Rain Man movie? Well, Macy’s sucks.

      Liked by 2 people

      • jackphatz says:

        I agree Macy’s, like JC Penny not only priced themselves out of the “everyday woman” market, they also wanted us dressed like 18 year sluts on the job. I would spend between $20-40 for slacks to wear at work and for play at Kohl’s but at Macy’s the same would run $50-75. Money talks. BS walks!

        Liked by 1 person

        • tempo150101 says:

          Honestly, when I was younger I wore a lot of Ralph Lauren and Tommy Hilfiger (clearance rack). But now I look at the prices and say to myself, “Who’s going to pay $80 for a freaking shirt?” Kohl’s has the right look, but it’s too polyester for me. I generally look for something on sale at Penney’s – I’m big on cotton! I’m wearing their Arizona jeans right now – on sale for $20 and with their $10 coupon my net cost was …. $10 bucks! I’m too old for Levi’s or Lucky or Guess (God I wish Guess jeans would fit me like they used to!)

          Liked by 1 person

          • Wasillaguy says:

            Arizona jeans are apparently made in Bangladesh. I like Buddy jeans (no affiliation), the denim fabric and the jeans are made in the U.S.A.

            Like

    • coeurdaleneman says:

      Huh? I didn’t interpret Trump’s gloating email as taking sole responsibility for their slide. Was there another statement?

      Liked by 1 person

  5. joshua says:

    Macy’s can go away totally as far as I am concerned. They are a terrible retailer, their employees are jerks and uninterested in customers, and their credit folks are merely part of a bank, not the store itself. Bye Bye Macy’s….

    Like

  6. They can pack up their parade and go home for all I care.

    Like

  7. truthseekerr says:

    sad but duh! When a store gets political they could loose half their customers.

    Liked by 2 people

  8. Why doesn’t Macy’s say something? Do they really think it is not related? ..

    Like

    • TheLastDemocrat says:

      Making a big statement – then reeling it back in – is worse.

      Susan G. Komen found out the hard way. Planned Parenthood has successfully insinuated itself into many enterprises. Komen should have kept them at arm’s length from the git-go. When they broke with PP, then went back five minutes later, they lost a lot of cred on both sides of the issue – from that point, of making up with PP, their fun runs continued to have notably decreased numbers of participants.

      When you make a big goof, it is best to simply try to paper it over as best as you can, and ride it out. Then, stick to your game.

      Liked by 1 person

  9. Compwhiz 3001 says:

    Being from Chicago, Macy’s feels like a cheap Marshall Field’s, the Chicago chain they bought a while ago. Field’s was a high grade store, Macy’s is like a dressed-up Target, which I think sold Field’s to Macy’s. Hmm go figure…

    Like

  10. Tommy Helms says:

    Macy’s said the drop in sales was due to unusually warm winter weather. Because everyone hates to go shopping when it’s nice out

    Like

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