What Happened to Macy’s Since Booting Trump is Much Worse Than We Thought
Macy’s was one of the very first companies to dump a Trump-brand because they didn’t like the President’s rhetoric. Many saw this as a purely political move and decided to boycott the company.
It turns out that dropping Trump’s clothes may have been the exact WRONG move for Macy’s.
From the Conservative Tribune:
Major companies across the country that have recently made the decision to no longer promote or carry the Ivanka Trump brand due to disagreements with her father, President Donald Trump, probably should have taken a lesson from another, anti-Trump company — Macy’s.
In July 2015, the large department store chain cut ties with then-candidate Trump and phased out his line of suits, shirts and ties because of Trump’s comments on immigration and border security, according to a New York Times report of the time.
However, less than two years later, Macy’s stocks have dropped significantly since the company dropped Trump’s products, suggesting that customers weren’t exactly on board with the controversial decision.
On July 16, 2015, Macy’s stock price hit a five-year high of $72.8, according to the online stock analysis website Amigo Bulls.
Fast forward to Feb. 13, 2017, and the anti-Trump department store closed the day’s trading with a much lower stock price of $32.58, according to Market Watch.
That’s more than a 55 percent decrease.
It turns out that Trump supporters carry a whole lot more influence than Macy’s thought.