This post was written by Connor Balough
May 10th earnings reports are dim for Macy’s, with investors scrambling after Trump’s supporters quit shopping there.
As a result of billionaire businessman Donald Trump’s blunt rhetoric, companies across America have stopped selling Trump products as a way to demonstrate that they are somehow morally superior to Trump.
CNBC reported that this plan appears to have backfired spectacularly for Macy’s because it was looking at yet another quarter that would see declines across the board for the company.
Macy’s vowed to stop selling Trump products in its stores right around the time it started seeing terrible financial quarter results, which has sent its stock crashing through the floor.
Not helping Macy’s is the fact that the economy is still pretty terrible and people are choosing to use what money they have on needs rather than spend it on the “nice to have” items Macy’s sells.
People just don’t have the money to go by expensive clothing at fancy department stores. What money people have needs to go to meeting their needs in more modest fashion.
In a better economy, people would be able to visit Macy’s and buy unnecessary stuff, and that is the type of economy Trump wants to create as president. Maybe then Macy’s will reconsider and start selling some of his products again.
Trump wants to cause the American economy to explode with growth by bringing jobs back to America and allowing states to be in charge of the minimum wage.
Trump also wants to lower taxes on the middle class so people can actually use their own money for what they want — not give it to the government and watch it be wasted.
Americans desperately need an economy that works for them. We can’t endure four, or eight, more years of this horrible economy, or we might never recover.