Bidenomics continues to work its wonders, as department store heavyweight Macy’s announced that it’s closing 150 locations – roughly 30 percent of its stores – including the iconic San Francisco outlet at Union Square.
You don’t need an economics degree to figure out what’s ailing the venerable retail mainstay:
Macy’s, which has entered its 166th year in business, has been struggling recently with weak demand as customers cut back on spending due to stubbornly high inflation and elevated borrowing costs.
Macy’s fourth-quarter results posted Tuesday showed sales fell nearly 2% in the all-important holiday quarter.
More, courtesy of Joe:
Bidenomics: Major U.S. Companies Are Slashing Jobs at a Staggering Pace
While the Biden administration has constantly been telling us the economy is great, the reality on the ground has been much different.
It’s the latest downsizing for…
