NORDSTROM STOCK IGNORES TRUMP TWEET ABOUT IVANKA
The stock market clearly isn’t paying much attention to President Donald Trump as Seattle-based retailer Nordstrom Inc. opened Thursday’s market at a relatively high price of 44.53. just a day after Trump blasted the chain for dropping daughter Ivanka’s brand from its stores, and has continued to rise throughout the morning. (As of 10:20am, it was trading at 45.64). The stock’s price had dipped very slightly, and very briefly on Wednesday after Trump’s comment, but eventually rose approximately four percent.
“My daughter Ivanka has been treated so unfairly,” Trump wrote on his personal Twitter account and his official @POTUS handle on Wednesday. “She is a great person — always pushing me to do the right thing! Terrible!”
Nordstrom did not comment on the decision on Twitter nor did it release any official press statement.
However, according to published reports, the retailer blamed the change on poor sales of the women’s brand, especially in the second half of 2016, rather than any political statement (although some activist groups were calling on a boycott for the brand). Neiman Marcus has also dropped Ivanka Trump’s jewelry line, and TJ Maxx and Marshalls have reportedly eliminated special sections within their stores devoted to Trump’s clothing.
