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

    Joined:
    Aug 20, 2008
    Messages:
    32,129
    Likes Received:
    8,246
    Trophy Points:
    113
    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
     
    ButterBalls likes this.
  2. Oldyoungin

    Oldyoungin Banned

    Joined:
    Jan 4, 2013
    Messages:
    24,694
    Likes Received:
    8,172
    Trophy Points:
    113
    Thanks, Joe!
     
    ButterBalls likes this.
  3. fullmetaljack

    fullmetaljack Well-Known Member

    Joined:
    Oct 24, 2017
    Messages:
    9,020
    Likes Received:
    7,659
    Trophy Points:
    113
    Gender:
    Male
    And yet the unemployment rate is still 3.7%.

    Thanks Joe !
     
    Last edited: Feb 27, 2024
    DaveBN, Arkanis, Quantum Nerd and 3 others like this.
  4. bx4

    bx4 Well-Known Member

    Joined:
    Aug 29, 2016
    Messages:
    16,309
    Likes Received:
    13,818
    Trophy Points:
    113
    And 353,000 net jobs added in January alone. Thanks Joe!
     
    DaveBN, Arkanis, Quantum Nerd and 3 others like this.
  5. grapeape

    grapeape Well-Known Member Past Donor

    Joined:
    Jul 26, 2015
    Messages:
    19,247
    Likes Received:
    10,920
    Trophy Points:
    113
    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

    Joined:
    Jul 19, 2011
    Messages:
    43,520
    Likes Received:
    35,063
    Trophy Points:
    113
    Gender:
    Male
    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 Banned

    Joined:
    Dec 2, 2016
    Messages:
    54,641
    Likes Received:
    41,184
    Trophy Points:
    113
    Make one wonder? Well maybe not a Joe fan!!
     
    Last edited: Feb 27, 2024
    Ddyad and 19Crib like this.
  8. 19Crib

    19Crib Well-Known Member Donor

    Joined:
    Feb 4, 2021
    Messages:
    7,119
    Likes Received:
    7,104
    Trophy Points:
    113
    Gender:
    Male
    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
    Ddyad and ButterBalls like this.
  9. sec

    sec Well-Known Member

    Joined:
    Aug 20, 2008
    Messages:
    32,129
    Likes Received:
    8,246
    Trophy Points:
    113

    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
     
    19Crib likes this.
  10. cd8ed

    cd8ed Well-Known Member Past Donor

    Joined:
    Jul 19, 2011
    Messages:
    43,520
    Likes Received:
    35,063
    Trophy Points:
    113
    Gender:
    Male
    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.
     
    MrFred, DaveBN, grapeape and 4 others like this.
  11. fullmetaljack

    fullmetaljack Well-Known Member

    Joined:
    Oct 24, 2017
    Messages:
    9,020
    Likes Received:
    7,659
    Trophy Points:
    113
    Gender:
    Male
    Amazing what a little research turns up.
    :applause:
     
  12. FreshAir

    FreshAir Well-Known Member Past Donor

    Joined:
    Mar 2, 2012
    Messages:
    156,908
    Likes Received:
    67,153
    Trophy Points:
    113
    "Macy's to close 150 stores by 2026"

    maybe they must be predicting a Trump win in 2024
     
    Last edited: Feb 27, 2024
    WalterSobchak and Quantum Nerd like this.
  13. 19Crib

    19Crib Well-Known Member Donor

    Joined:
    Feb 4, 2021
    Messages:
    7,119
    Likes Received:
    7,104
    Trophy Points:
    113
    Gender:
    Male
    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

    Joined:
    Mar 2, 2012
    Messages:
    156,908
    Likes Received:
    67,153
    Trophy Points:
    113
    exactly
     
  15. FreshAir

    FreshAir Well-Known Member Past Donor

    Joined:
    Mar 2, 2012
    Messages:
    156,908
    Likes Received:
    67,153
    Trophy Points:
    113
    is $1.2 Billion profit not "profit"?
     
    cd8ed and Quantum Nerd like this.
  16. cd8ed

    cd8ed Well-Known Member Past Donor

    Joined:
    Jul 19, 2011
    Messages:
    43,520
    Likes Received:
    35,063
    Trophy Points:
    113
    Gender:
    Male
    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

    Joined:
    Oct 24, 2017
    Messages:
    9,020
    Likes Received:
    7,659
    Trophy Points:
    113
    Gender:
    Male
    Not to mention the mindless knee-jerk reaction by the righties to blame the nearest Democrat.
     
    MrFred, cd8ed, grapeape and 2 others like this.
  18. 19Crib

    19Crib Well-Known Member Donor

    Joined:
    Feb 4, 2021
    Messages:
    7,119
    Likes Received:
    7,104
    Trophy Points:
    113
    Gender:
    Male
    Can you be more specific?
     
  19. sec

    sec Well-Known Member

    Joined:
    Aug 20, 2008
    Messages:
    32,129
    Likes Received:
    8,246
    Trophy Points:
    113

    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

    Joined:
    Jul 19, 2011
    Messages:
    43,520
    Likes Received:
    35,063
    Trophy Points:
    113
    Gender:
    Male
    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?
     
    Quantum Nerd and FreshAir like this.
  21. cd8ed

    cd8ed Well-Known Member Past Donor

    Joined:
    Jul 19, 2011
    Messages:
    43,520
    Likes Received:
    35,063
    Trophy Points:
    113
    Gender:
    Male
    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

    Joined:
    Jun 27, 2021
    Messages:
    17,299
    Likes Received:
    9,862
    Trophy Points:
    113
    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.
     
    Quantum Nerd likes this.
  23. mdrobster

    mdrobster Well-Known Member

    Joined:
    Aug 11, 2011
    Messages:
    35,545
    Likes Received:
    14,046
    Trophy Points:
    113
    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.
     
    DaveBN, Quantum Nerd, cd8ed and 2 others like this.
  24. fmw

    fmw Well-Known Member

    Joined:
    Aug 21, 2009
    Messages:
    40,696
    Likes Received:
    15,648
    Trophy Points:
    113
    Thanks internet.
     
  25. fmw

    fmw Well-Known Member

    Joined:
    Aug 21, 2009
    Messages:
    40,696
    Likes Received:
    15,648
    Trophy Points:
    113
    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.
     
    TomFitz, Mrs. b. and Noone like this.

Share This Page