Skip to main content

Market Overview

Days After Nordstrom Cut Ties With Ivanka, President Trump Attacks Retailer

Days After Nordstrom Cut Ties With Ivanka, President Trump Attacks Retailer

High-end specialty retailer Nordstrom, Inc. (NYSE: JWN) announced late last week it will be cutting ties with the fashion brand run by President Trump's daughter Ivanka.

Nordstrom said in a statement that its decision to no longer carry the Ivanka Trump's line of women's clothing, shoes and handbags is not politically-motivated. However, the business decision did come at a time when the political climate is perhaps the most divisive in years.

On Wednesday, Trump took to his personal Twitter account and tweeted, "My daughter Ivanka has been treated so unfairly by @Nordstrom. She is a great person -- always pushing me to do the right thing! Terrible!"
Shares of Nordstrom initially spiked lower immediately following the tweet, but recovered losses and was recently trading in positive territory for the day.

Nordstrom released the following statement:

"To reiterate what we've already shared when asked, we made this decision based on performance. Over the past year, and particularly in the last half of 2016, sales of the brand have steadily declined to the point where it didn't make good business sense for us to continue with the line for now. We've had a great relationship with the Ivanka Trump team. We've had open conversations with them over the past year to share what we've seen and Ivanka was personally informed of our decision in early January."

Here is a collection of some of the responses on Twitter Inc (NYSE: TWTR), both supportive and against Nordstrom's decision.

Image Credit: By Voice of America [Public domain], via Wikimedia Commons


Related Articles (JWN)

View Comments and Join the Discussion!

Posted-In: Donald Trump Ivanka Trump NordstronPolitics Crowdsourcing Movers Media General Best of Benzinga