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Saturday, January 14, 2017
No, WND, Problems At Macy's Can't Be Tied to Trump
Topic: WorldNetDaily

We've detailed WorldNetDaily's fundamental misunderstanding of how business works, which may be a reason for its current financial situation, wihch is dire enough that WND editor Joseph Farah begged for money from his readers. One of those misunderstandings was its insistence on blaming problems at Macy's on its decision to stop Donald Trump's clothing collection.

Joe Kovacs does that yet again in a Jan. 4 WND article:

In the battle of Macy’s vs. Donald Trump, it appears the clear loser continues to be Macy’s.

On Wednesday, the retailer announced disappointing holiday sales, prompting its stock to drop more than 9 percent.

The company also released the locations of 68 of the 100 stores it plans to close, with more than 10,000 jobs reportedly being eliminated.

CNBC reported: ” As part of Wednesday’s announcement Macy’s said it will eliminate layers of management to cut costs and make more agile decisions. It also will work to reduce other non-payroll costs. As a result of these steps, the company estimates its work force will be cut by 6,200. Another 3,900 workers will be displaced by the store closures and some of these employers could be reassigned.”

As WND reported, Trump upended American politics in 2015 when he declared he was a candidate for president.

Macy’s promptly declared it was cutting ties and dumping Trump’s clothing line because of “disparaging” remarks about Mexicans.

[...]

The onetime reality-TV star is now the president-elect of the United States, just two weeks away from being sworn into office.

Meanwhile, Macy’s stock price has plummeted.

By contrast, actual reporters for genuine news outlets -- like CNBC, who Kovacs selectively cites -- Macy's is trimming its brick-and-mortar locations while building up its online business and off-price and specialty brands. No mention of Trump at all.

And WND denies it pushes "fake news"....


Posted by Terry K. at 1:21 AM EST

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