Macy's to close 150 stores by 2026, open new Bloomingdale's, Bluemercury locations

Discussion in 'Current Events' started by sec, Feb 27, 2024.

  1. sec

    sec Well-Known Member

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    https://www.foxbusiness.com/markets...-2026-new-bloomingdales-bluemercury-locations

    HYPERLINK has full article
    snip

    Macy's announced the firing of over 2,000 employees in January....

    acy's plans to close roughly 150 of its locations over the next three years in a strategy shift that leans more heavily on its luxury Bloomingdale's and Bluemercury chains.............

    In turn, the company will add roughly 45 Bloomingdale's and Bluemercury locations.


    end snip

    150 closures and only 45 (projected) new openings

    2,000 folks hit the bricks

    More folks laid off, more vacant commercial real estate

    and so it goes and so it goes
     
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  2. Oldyoungin

    Oldyoungin Well-Known Member

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    Thanks, Joe!
     
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  3. fullmetaljack

    fullmetaljack Well-Known Member

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    And yet the unemployment rate is still 3.7%.

    Thanks Joe !
     
    Last edited: Feb 27, 2024
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  4. bx4

    bx4 Well-Known Member

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    And 353,000 net jobs added in January alone. Thanks Joe!
     
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  5. grapeape

    grapeape Well-Known Member Past Donor

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    Tell me you dont know what your debating without telling me....

    They are moving to more to their LUXURY brands....so per the conservative "trickle down theory", thats not really working for the average joe....right ?

    3.5% is "full employment"
     
    Last edited: Feb 27, 2024
  6. cd8ed

    cd8ed Well-Known Member Past Donor

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    Yeh, all this proves is the middle class is being wiped out and the poor and wealthy are further dividing.

    Only one party supports trickle down and wants to cut regulations so the very wealthy can make even more money.

    Republicans not only voted for this, they cheer it. It’s ironic that the people they are hurting them most are themselves and one of their core constituencies.
     
  7. ButterBalls

    ButterBalls Well-Known Member

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    Make one wonder? Well maybe not a Joe fan!!
     
    Last edited: Feb 27, 2024
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  8. 19Crib

    19Crib Well-Known Member Past Donor

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    Amazon and Walmart have cornered the market on the cheaper brands.
    The trend away from malls has increased demand for upscale store brands in the malls that are left which tend to be in the upper income

    BTW ICYMI, the progressives and enviro's have been running the show for the last three years.
     
    Last edited: Feb 27, 2024
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  9. sec

    sec Well-Known Member

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    this all began with exec orders targeting fossil fuels. The snowball effect turned into an avalanche with no end in sight. The harm cuts across all party lines be they Democrat or Republican or Libertarian
     
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  10. cd8ed

    cd8ed Well-Known Member Past Donor

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    Except it didn’t

    Supply chain issues were popping up due to Covid, then SA cut oil production after a meeting with the prior administration to levels below what normal demand is — once demand leveled out the supply wasn’t there.

    We are now producing more oil than any other nation and more than at any other time in the history of this nation and prices still remain high because of massive corporate profits.

    In your example, Bloomingdale’s — their net profit is up at $1.2 Billion while overall revenues are down — they are accomplishing this by eliminating lower priced items. Corporations are seeing profit levels never seen before and the Republican strategy is to cut their taxes more and slash regulations.
     
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  11. fullmetaljack

    fullmetaljack Well-Known Member

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    Amazing what a little research turns up.
    :applause:
     
  12. FreshAir

    FreshAir Well-Known Member Past Donor

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    "Macy's to close 150 stores by 2026"

    maybe they must be predicting a Trump win in 2024
     
    Last edited: Feb 27, 2024
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  13. 19Crib

    19Crib Well-Known Member Past Donor

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    What is wrong with profit? How do you think expansions are financed? From what do you think taxes are paid?". "Where does money for retirement funds come from?", "How will you stay in existence if you are not making a profit?"
     
    Last edited: Feb 27, 2024
  14. FreshAir

    FreshAir Well-Known Member Past Donor

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    exactly
     
  15. FreshAir

    FreshAir Well-Known Member Past Donor

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    is $1.2 Billion profit not "profit"?
     
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  16. cd8ed

    cd8ed Well-Known Member Past Donor

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    I don’t have an issue with profit, I have an issue when it gets to a point it is damaging the economy as a whole.
     
  17. fullmetaljack

    fullmetaljack Well-Known Member

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    Not to mention the mindless knee-jerk reaction by the righties to blame the nearest Democrat.
     
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  18. 19Crib

    19Crib Well-Known Member Past Donor

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    Can you be more specific?
     
  19. sec

    sec Well-Known Member

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    I will waste my time typing this

    feel free to track the price of fuel rior to the exec orders, and then the next 12 months post-exec orders

    then, feel free to track all prices as everything needs fossil fuel.

    But alas, you will not as you will type the same Democrat talking point. The exec orders fired a shot into the price of futures and from there, it triggered what we now see as results. Instead, head out to the polls and vote Democrat.
     
  20. cd8ed

    cd8ed Well-Known Member Past Donor

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    Look around.

    Cost of goods have skyrocketed causing a global inflationary period while wages have not kept pace. The divide between the rich and poor increases yearly while the middle class is being wiped out.

    The top 5 wealthiest people in the US wealth doubled since 2020 to $869 While pretty much everyone else’s decreased and for the first time the wealth of the 1% at 26% passed the wealth of the middle class.

    The 148 top corporations made $1.8 trillion in profits, 52 percent up on 3-year average while seeing their tax rates decrease over the same period.

    This isn’t sustainable and only grows each year with a trend seen since the 80’s when trickle down (horse and sparrow) was pushed ahead full steam that shows no signs of slowing down.

    Honestly — at what point does the right think this is a problem?
     
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  21. cd8ed

    cd8ed Well-Known Member Past Donor

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    The red line is when SA and Russia cut oil production
    The Blue line is when Biden was inaugurated

    In order for these costs to be attributed to Biden, he would have had to be issuing EO’s prior to voters going to the polls in November 2020.

    upload_2024-2-27_13-48-8.jpeg
     
  22. Noone

    Noone Well-Known Member

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    About 20 years ago a chain I used to shop at all the time (it's on the tip of my fingers but I can't remember the name) got bought and turned into Macy's about the third trip I quit going there; just wasn't the same service or quality. So, I'm not surprised that they're closing them.
     
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  23. mdrobster

    mdrobster Well-Known Member

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    If one were to go to a shopping mall these days, one would notice a few less sized shopping crowd. That trend has been going on for at least 10 yrs. The traditional brick and mortar stores, e.g., chains are all reducing their footprints. There are apps to measure for clothes sizes and then just order online.

    This is another redundant flame bait partisan thread.
     
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  24. fmw

    fmw Well-Known Member

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    Thanks internet.
     
  25. fmw

    fmw Well-Known Member

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    The overhead involved in operating a retail location in a mall is high and cause the company to be price uncompetitive. It is a matter of dollars and sense, not politics.
     
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