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 / Updated  / Source: TODAY
By Matt Murray

Macy's is the latest company to end its business relationship with real estate mogul and presidential candidate Donald Trump due to his controversial statements about Mexican immigrants.

Macy's dumps Donald Trump

July 1, 201500:38

After facing immense public pressure, including a MoveOn.org petition with more than 700,000 signatures, the department store announced that it will be pulling Trump Merchandise from its shelves.

"We are disappointed and distressed by recent remarks about immigrants from Mexico," Macy's said in a statement. We do not believe the disparaging characterizations portray an accurate picture of the many Mexicans, Mexican Americans and Latinos who have made so many valuable contributions to the success of our nation."

"In light of statements made by Donald Trump, which are inconsistent with Macy's values, we have decided to discontinue our business relationship with Mr. Trump and will phase-out the Trump menswear collection, which has been sold at Macy's since 2004."

Republican presidential candidate Donald Trump waves as he arrives at a house party Tuesday, June 30, 2015, in Bedford, N.H.Jim Cole / AP

Trump responded with a statement of his own, saying, "I have decided to terminate my relationship with Macy’s because of the pressure being put on them by outside sources."

Macy's cutting ties is the latest in a line of severed business relationships in the wake of Trump's controversial statements made during his announcement of his 2016 presidential bid on June 16.

"When Mexico sends its people, they're not sending their best," the real-estate mogul said at the time. "They're not sending you. They're sending people that have lots of problems, and they're bringing those problems with us. They're bringing drugs. They're bringing crime. They're rapists. And some, I assume, are good people, but I speak to border guards and they're telling us what we're getting."

Univision was the first to cut ties when it announced that it would end its relationship with the Miss Universe competition.

Earlier this week, NBC announced that it would end it's business relationship with Trump, and Cheryl Burke and Thomas Roberts announced they would be stepping down as co-hosts of the Miss USA pageant.