Will Macy’s Give Donald Trump a Pink Slip?
Macy's (M) is under pressure to drop Donald Trump's clothing line from its stores after the real-estate developer let loose a Twitter tirade following President Barack Obama's re-election last Tuesday.
Before the election was even called for President Obama, Trump tweeted that the election was "a total sham and a travesty." He also called for a march on Washington to take back democracy.
As The Daily Ticker's Henry Blodget notes in the accompanying interview, Trump irked a lot of people with his "hissy fit," and now some of those same people think he's tarnishing the image of the department store at the center of Miracle on 34th Street. Trump's luxury retail line at Macy's includes ties, dress shirts, suits and some men's accessories, such as cuff links and tie clips. Roughly 500,000 people have signed a petition through SignOn.org to stop Macy's from doing business with Trump.
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In a letter to Macy's President and CEO Terry Lundgren, which is posted on the organization's website, the group writes:
Donald Trump does not reflect the "magic of Macy's." We urge you to sever ties with him. Macy's says it has a strong obligation to be "socially responsible" and that "actions speak louder than words." Indeed. It's time to act.
So should Macy's dump Trump?
Breakout's Jeff Macke says no, and he's chiding both sides -- Trump and SignOn.org -- for trying to suppress democracy and free speech.
"I think he is a great spokesperson for Macy's," says Macke. "If [the petition] gets one person to the store, that's great."
Retail guru Howard Davidowitz of Davidowitz & Associate says via email, "If Macy's didn't consider the Trump relationship to be productive, it would end it. The company is in business and has a responsibility to its shareholders to sustain that business."
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"It is nice publicity, and if it works in the P&L, I think Macy's should keep him," Macke says. "You're still hired, dang it. Free speech."
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