Nordstrom claims that sales have not been hurt by Donald Trump’s tweet calling out the department store for dropping his daughter’s fashion line.
After his Tweet was posted, Nordstrom’s shares quickly fell 0.5%, but within an hour they rallied and closed up 4% at the end of the day, the FT reported.
Nordstrom’s co-president Pete Nordstrom said in an earnings call with investors last week that Trump’s tweets against the company had a “negligible” impact on the business and were “not discernible one way or the other,” Fashionista reported.
Nordstrom claimed that its decision to drop Ivanka Trump’s line was the result of poor sales.
“Each year we cut about 10% [of brands] and refresh our assortment with about the same amount,” a Nordstrom representative said in a statement. “In this case, based on the brand’s performance we’ve decided not to buy it for this season.”
Nordstrom was one of many retailers targeted by a movement calling on consumers to boycott retailers that sell Trump-branded products.
Since the Grab Your Wallet boycott launched in October 2016, 19 of the targeted retailers have stopped selling Trump products. Overall, the number of Trump products available online has dropped by 61%, Business Insider reported.
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