Once again, the lie about a recovered economy is proved wrong as Macy’s is forced to close 100 more stores. Profits are plummeting and sales are such that over the next year the department store chain will reduce it’s number of brick and mortar stores in order to meet the demands of online shoppers.
Macy’s also had to “shutter many locations due to a host of economic conditions… and one serious mistake. The retail legend cited low levels of spending, geo-economic blather and even blamed global warming. There was no mention of the impact their 10 million dollar CEO Jerry Lundgren had on sucking up valuable dollars but the normal excuse of “I am paid by a board” was surely thrown around the few times he had to excuse himself this year.
The closures are part of a strategic plan to hopefully reach a place of “sustained growth in the future”. Other strategies include the improvement of online shopping and ordering, bringing more “brand shops” into the stores and “hosting in-store events” to create more traffic.
Macy’s is just another victim of Obama’s economics. Earlier, another high-end retailer was also forced to close.
Ralph Lauren is the next to fall in line, that is the unemployment and closure line, with more than 1,000 jobs being cut and 50 stores shutting their doors. Much like Macys, Walmart, Sears and a list of “major U.S. retailers that (sic) have announced the closing of more than 6,000 stores from coast to coast”, Ralph Lauren can no longer operate in the same manner and hope to ever be profitable in this Obamanemic economy.
As the dismal, jobless Obama economy continues, clothing retailer Ralph Lauren has announced a major scaling back of its U.S. operations, with the loss of one thousand jobs and the closure of 50 stores.
The massive closures can be read about on the following page.
Wall mart and target are next!
Should have went with Trump Obummie has us all goign down the toilet
Obama’s world, thanks to all that voted for him not once but twice.
Good bye Macy’s. It’s about the boycot and loosing business
You can thank the obama Administration – their plan is obviously progressing along with America’s downfall….
Obama says economy is in good condition, while stores just keep closing. Obama lies just like Hillary. Think hard before you vote for Hillary. Just more lies, criminal and murderer.
What happens when you go against your customers! Yall just live off liberal money!
should have kept selling those Trump neckties………….
WHY?
ALL STANDARD ARE LOWERED TO ACCOMMODATE THE PRESIDENT ? RANCHERS ARE BEING PUT TO PRISON BUT FELONS ARE BEING RELEASE FROM PRISON, TERRORISTS WERE RELEASE FROM GITMO!