(CNN) Macy's is pulling Donald Trump brand merchandise from its stores after the Republican presidential candidate's recent controversial remarks created a public uproar.

The department store has come under intense pressure to cut ties with the real estate magnate and businessman after he referred to immigrants from Mexico and other countries "killers and rapists."

In a statement Wednesday morning, Macy's said the company "stands for diversity" and that it had no tolerance for discrimination.

"We are disappointed and distressed by recent remarks about immigrants from Mexico. 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."

Macy's carries a variety of Donald Trump brand attire, including dress shirts, neckties and cuff links. Trump has also appeared in Macy's commercials.

MoveOn.org petition calling on Macy's to sever its relationship with Trump had collected well over 700,000 signatures as of Wednesday morning.

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

Photos: Donald Trump's rise Photos: Donald Trump's rise President-elect Donald Trump has been in the spotlight for years. From developing real estate and producing and starring in TV shows, he became a celebrity long before winning the White House. Hide Caption 1 of 37 Photos: Donald Trump's rise Trump at age 4. He was born in 1946 to Fred and Mary Trump in New York City. His father was a real estate developer. Hide Caption 2 of 37 Photos: Donald Trump's rise Trump, left, in a family photo. He was the second-youngest of five children. Hide Caption 3 of 37 Photos: Donald Trump's rise Trump, center, stands at attention during his senior year at the New York Military Academy in 1964. Hide Caption 4 of 37 Photos: Donald Trump's rise Trump, center, wears a baseball uniform at the New York Military Academy in 1964. After he graduated from the boarding school, he went to college. He started at Fordham University before transferring and later graduating from the Wharton School, the University of Pennsylvania's business school. Hide Caption 5 of 37 Photos: Donald Trump's rise Trump stands with Alfred Eisenpreis, New York's economic development administrator, in 1976 while they look at a sketch of a new 1,400-room renovation project of the Commodore Hotel. After graduating college in 1968, Trump worked with his father on developments in Queens and Brooklyn before purchasing or building multiple properties in New York and Atlantic City, New Jersey. Those properties included Trump Tower in New York and Trump Plaza and multiple casinos in Atlantic City. Hide Caption 6 of 37 Photos: Donald Trump's rise Trump attends an event to mark the start of construction of the New York Convention Center in 1979. Hide Caption 7 of 37 Photos: Donald Trump's rise Trump wears a hard hat at the Trump Tower construction site in New York in 1980. Hide Caption 8 of 37 Photos: Donald Trump's rise Trump was married to Ivana Zelnicek Trump from 1977 to 1990, when they divorced. They had three children together: Donald Jr., Ivanka and Eric. Hide Caption 9 of 37 Photos: Donald Trump's rise The Trump family, circa 1986. Hide Caption 10 of 37 Photos: Donald Trump's rise Trump uses his personal helicopter to get around New York in 1987. Hide Caption 11 of 37 Photos: Donald Trump's rise Trump stands in the atrium of the Trump Tower. Hide Caption 12 of 37 Photos: Donald Trump's rise Trump attends the opening of his new Atlantic City casino, the Taj Mahal, in 1989. Hide Caption 13 of 37 Photos: Donald Trump's rise Trump signs his second book, "Trump: Surviving at the Top," in 1990. Trump has published at least 16 other books, including "The Art of the Deal" and "The America We Deserve." Hide Caption 14 of 37 Photos: Donald Trump's rise Trump and singer Michael Jackson pose for a photo before traveling to visit Ryan White, a young child with AIDS, in 1990. Hide Caption 15 of 37 Photos: Donald Trump's rise Trump dips his second wife, Marla Maples, after the couple married in a private ceremony in New York in December 1993. The couple divorced in 1999 and had one daughter together, Tiffany. Hide Caption 16 of 37 Photos: Donald Trump's rise Trump putts a golf ball in his New York office in 1998. Hide Caption 17 of 37 Photos: Donald Trump's rise An advertisement for the television show "The Apprentice" hangs at Trump Tower in 2004. The show launched in January of that year. In January 2008, the show returned as "Celebrity Apprentice." Hide Caption 18 of 37 Photos: Donald Trump's rise A 12-inch talking Trump doll is on display at a toy store in New York in September 2004. Hide Caption 19 of 37 Photos: Donald Trump's rise Trump attends a news conference in 2005 that announced the establishment of Trump University. From 2005 until it closed in 2010, Trump University had about 10,000 people sign up for a program that promised success in real estate. Three separate lawsuits -- two class-action suits filed in California and one filed by New York's attorney general -- argued that the program was mired in fraud and deception. Trump's camp rejected the suits' claims as "baseless." And Trump has charged that the New York case against him is politically motivated. Hide Caption 20 of 37 Photos: Donald Trump's rise Trump attends the U.S. Open tennis tournament with his third wife, Melania Knauss-Trump, and their son, Barron, in 2006. Trump and Knauss married in 2005. Hide Caption 21 of 37 Photos: Donald Trump's rise Trump wrestles with "Stone Cold" Steve Austin at WrestleMania in 2007. Trump has close ties with the WWE and its CEO, Vince McMahon. Hide Caption 22 of 37 Photos: Donald Trump's rise For "The Apprentice," Trump was honored with a star on the Hollywood Walk of Fame in January 2007. Hide Caption 23 of 37 Photos: Donald Trump's rise Trump appears on the set of "The Celebrity Apprentice" with two of his children -- Donald Jr. and Ivanka -- in 2009. Hide Caption 24 of 37 Photos: Donald Trump's rise Trump poses with Miss Universe contestants in 2011. Trump had been executive producer of the Miss Universe, Miss USA and Miss Teen USA pageants since 1996. Hide Caption 25 of 37 Photos: Donald Trump's rise In 2012, Trump announces his endorsement of Republican presidential candidate Mitt Romney. Hide Caption 26 of 37 Photos: Donald Trump's rise Trump speaks in Sarasota, Florida, after accepting the Statesman of the Year Award at the Sarasota GOP dinner in August 2012. It was shortly before the Republican National Convention in nearby Tampa. Hide Caption 27 of 37 Photos: Donald Trump's rise Trump appears on stage with singer Nick Jonas and television personality Giuliana Rancic during the 2013 Miss USA pageant. Hide Caption 28 of 37 Photos: Donald Trump's rise In June 2015, during a speech from Trump Tower, Trump announced that he was running for President. He said he would give up "The Apprentice" to run. Hide Caption 29 of 37 Photos: Donald Trump's rise Trump -- flanked by U.S. Sens. Marco Rubio, left, and Ted Cruz -- speaks during a CNN debate in Miami on March 10. Trump dominated the GOP primaries and emerged as the presumptive nominee in May. Hide Caption 30 of 37 Photos: Donald Trump's rise The Trump family poses for a photo in New York in April. Hide Caption 31 of 37 Photos: Donald Trump's rise Trump speaks during a campaign event in Evansville, Indiana, on April 28. After Trump won the Indiana primary, his last two competitors dropped out of the GOP race. Hide Caption 32 of 37 Photos: Donald Trump's rise Trump delivers a speech at the Republican National Convention in July, accepting the party's nomination for President. "I have had a truly great life in business," he said. "But now, my sole and exclusive mission is to go to work for our country -- to go to work for you. It's time to deliver a victory for the American people." Hide Caption 33 of 37 Photos: Donald Trump's rise Trump faces Democratic nominee Hillary Clinton in the first presidential debate, which took place in Hempstead, New York, in September. Hide Caption 34 of 37 Photos: Donald Trump's rise Trump apologizes in a video, posted to his Twitter account in October, for vulgar and sexually aggressive remarks he made a decade ago regarding women. "I said it, I was wrong and I apologize," Trump said, referring to lewd comments he made during a previously unaired taping of "Access Hollywood." Multiple Republican leaders rescinded their endorsements of Trump after the footage was released. Hide Caption 35 of 37 Photos: Donald Trump's rise Trump walks on stage with his family after he was declared the election winner on November 9. "Ours was not a campaign, but rather, an incredible and great movement," he told his supporters in New York. Hide Caption 36 of 37 Photos: Donald Trump's rise Trump is joined by his family as he is sworn in as President on January 20. Hide Caption 37 of 37

Angelo Carusone, who started the "Dump Trump" movement in 2012 to protest Trump's "birther" theories about President Barack Obama and launched the Macy's petition, lauded the department store for making the "right decision."

"The statement itself (from Macy's) basically confirms what we've been saying since day one: His brand, which is bigoted bullying, is inconsistent with Macy's brand," Carusone, the executive vice president of Media Matters, told CNN. "There's a line between being very opinionated and expressing yourself and communicating that and being reckless and destructive."

This is not the first fallout for Trump, who launched his White House bid in mid-June.

Last week, Univision announced that it would cancel its telecast of the Miss USA pageant, which is partially owned by Trump, and that it would cut all business ties with him.

NBCUniversal, which had jointly owned the Miss USA pageant and Miss Universe pageant with Trump, has also severed its relationship with the brash White House candidate. Trump was also the host of "Celebrity Apprentice," which airs on NBC, and will no longer be a part of the reality TV show.

Others are also openly chastising Trump.

Former New York Gov. George Pataki, who is also seeking the GOP presidential nomination, circulated a letter Wednesday calling on his party's fellow White House candidates to "denounce" Trump's remarks.

"Here we are in 2015 and a leading candidate for the GOP nomination for president is calling Mexicans criminals, rapists and drug dealers," Pataki wrote. "This is unacceptable."

Meanwhile, New York City Mayor Bill de Blasio announced that he will review the city's contracts with Trump, calling the business mogul's recent comments "disgusting," "offensive" and "hateful" in a statement.

A city official explained that the review will at least in part focus on the Trump Gold Links at Ferry Point in the Bronx. Trump won the contract to build this golf course under the city's previous mayor, Michael Bloomberg. The course opened earlier this year.

Trump said in a statement that it was his decision to terminate his relationship with Macy's, and accused both the department store and NBC for supporting illegal immigration.

"Both Macy's and NBC totally caved at the first sight of potential difficulty with special interest groups who are nothing more than professional agitators, who are not looking out for the people they purport to represent, but only for themselves. It is people like this that are actually running our country because our leaders are weak and ineffective," Trump said.

Macy's denied the claim that it was Trump's decision to sever ties.

"It was Macy's decision," a spokesman said in an email to CNN.