The fallout from Donald Trump's presidential campaign kick-off speech is far from over.

On Wednesday, Macy's said it would sever ties with the real estate magnate and will be pulling his brand merchandise from its stores.

The department store has faced intense demand to split with Trump after he referred to immigrants from Mexico as "killers and rapists," a comment that led to an immediate uproar.

"[Mexico is] 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," he said during his June 16 speech.

Macy's said that it "stands for diversity" and is not accepting of discrimination.

"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," Macy's said. "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."

Trump not only appears in Macy's commercials, but the company also sells dress shirts, neckties and cuff-links from Trump's brand attire.

Following the Republican candidate's comments, started a petition that pressed the retailer to drop the billionaire. It collected more than 700,000 signatures.

"Donald Trump does not reflect 'the magic of Macy's,'" the petition said. "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."

Macy's is the latest company to end its business relationship with Trump after the speech.

On June 25, Univision dropped its Spanish-language coverage of the Miss USA as well as Miss Universe pageants, both of which Trump co-owns, and is also planning on cutting all business ties with the magnate. Trump is now suing the company for $500 million, claiming that Univision is trying to suppress his right to free speech.

Three days after Univision's announcement, Trump underscored his earlier comments in an interview on CNN's "State of the Union."

"You have people coming in, and I'm not just saying Mexicans, I'm talking about people that are from all over that are killers and rapists and they're coming into this country," he said.

Immediately after the interview was published, NBCUniversal announced that it was also done with the billionaire and would no longer air the two pageants, both of which were joint ventures between Trump and the network.

"At NBC, respect and dignity for all people are cornerstones of our values. Due to the recent derogatory statements by Donald Trump regarding immigrants, NBCUniversal is ending its business relationship with Mr. Trump," the company said Monday.

On Tuesday, Mexico announced that it will not be sending a contestant to the Miss Universe pageant.