Donald Trump Believes He’s the Reason Why Macy’s Stock Dropped
Property magnate Donald Trump took credit on Monday for the year-to-date decline in Macy’s stock.
“Wow,” the Republican presidential front-runner wrote.
Macy’s “shares are down more than 40% this year,” he added. “I never knew my ties & shirts not being sold there would have such a big impact!”
Trump feuded with the department store chain after he launched his campaign earlier in the year.
Macy’s was one of several companies to cut ties with Trump’s business empire amid controversy over his caustic statements about illegal immigration. Macy’s said it would phase out its Trump-branded dress shirts, ties, and a fragrance called “Success.”
Among other things, Trump accused Mexico of intentionally sending its murderers and “rapists” across the border. Controversy raged several weeks over Trump’s remarks, which many felt were insulting to all immigrants.
Trump repeatedly bashed Macy’s as “weak” since the company announced it would stop selling his products. The billionaire businessman called for a boycott and cheered his supporters for saying they cut up their store credit cards.
In July, Trump similarly took credit for a minuscule $0.14 decline in Macy’s stock.
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