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.
You really believe that many shop online to justify closing 100 stores and people losing jobs. Where’s your head, in the sand? Don’t bother to call me racist. I know that’s the next step.
Target has already been hit by their bathroom policy. Lol
Target has already been hit because of their bathroom policy. Lol
Yes, and everybody can live off of the government.
There are a lot of criminals at the grassroots unfortunately, people must pay attention and ask the hard questions “what do they have to gain if we put them on any boards whatsoever! I’ve seen it happen.
Ruby Leuty oh so now the issue is you entitled to your opinion but everyone that thinks differently can’t . You can do or think whatever the$#%&!@*you want I really don’t give a dam just leave me the$#%&!@*alone $#%&!@* bye
I wouldn’t shop at Macy’s or any other high-end store! Their products come from China or some other third world country that is massed produced and have a famous endorser that receives the money.
Much as I’d like to blame Obamacare, I doubt it is responsible for the closure of brick and mortar store. Online shopping is easier, faster, and often cheaper. And if you shop online with a direct seller, you get personalized service from someone who actually knows the product and cares if you are satisfied.
Because of almost 8 years of HELL with Muslim Traitor Obama.
More edging out of middle America and more jobs – disgusting….