Macy’s introduced this week that they’re closing 150 shops throughout the nation. It’s simply one other feather in Joe Biden’s cap that that is occurring on his watch.

Bidenomics is just not understanding properly for retailers – or prospects.

From WECT News:

Macy’s to shut 150 shops over 3 years as gross sales slip

Macy’s will shut 150 unproductive namesake shops over the subsequent three years together with 50 by year-end, the division retailer operator stated Tuesday after posting a fourth-quarter loss and declining gross sales.

As a part of the technique, Macy’s goals to improve its remaining 350 shops, with plans so as to add extra salespeople to becoming areas and shoe departments, whereas including extra visible shows like mannequins. On the identical time, the corporate signaled a pivot to luxurious, which has fared higher total. It stated it will open 15 of its increased finish Bloomingdale’s shops and 30 of its luxurious Bluemercury cosmetics places.

The Macy’s shops set to shut account for 25% of total sq. footage however lower than 10% of its gross sales, the corporate stated.

In San Francisco, the flagship retailer is closing and as common, theft was a giant purpose.

From the San Francisco Standard:

Macy’s Union Sq. staff say rampant shoplifting responsible for closure

“It happens every day,” worker Steve Dalisay stated.

Hanging up blazers within the Macy’s sixth-floor males’s division, Dalisay stated blazers, wallets and boxer briefs are the gadgets most continuously stolen from his division. He stated thieves take no less than 4 blazers every single day, including that he sometimes sees about 10 wallets and 20 briefs stolen day by day…

Within the fourth-floor ladies’s division, one other worker who has been working on the Union Sq. Macy’s for greater than 10 years insisted that theft and decrease gross sales have been the driving forces behind the closure.

“It’s the theft, and that people aren’t coming in,” stated the employee, who didn’t need to be recognized as a result of staff aren’t allowed to talk to reporters. “Basically, the same thing that happened to the Nordstrom is happening to us.”

On this video, Mayor London Breed flat out denies that theft was an issue.

San Francisco goes to be a ghost city if it continues down this street.