Nordstrom is standing firm behind its decision to stop selling Ivanka Trump’s line of clothing after Trump accused the retailer of lodging a “direct attack” on the policies of president Donald Trump. A representative for Nordstrom said the company told Ivanka in January that they decided to stop selling her clothing items due to the fact that their sales were dropping. They made a public statement about their decision after they were asked to tell why they quit selling her items.
“To reiterate what we’ve already shared when asked, we made this decision based on performance,” the company said in a statement. “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.” Nordstrom did say that this decision had nothing to do with politics.
Nordstrom has also made a statement saying that their decision to stop selling Ivanka’s clothing line had nothing to do with politics. In their statement, they said “”We’ve said all along we make buying decisions based on performance. In this case, based on the brand’s performance, we’ve decided not to buy it for this season,” the statement read. They said also that they cut about ten percent of their inventory every year so they can start selling new lines of clothing. Another reason that they decided to stop selling her items was people boycotting businesses that sold her items.
Nordstrom’s decision also came amid calls for a boycott against retailers that sell Trump products. Critics of Ivanka Trump’s dad, president Donald Trump have called for boycotts against dozens of retailers that sell items from the Trump line. Despite all of these reasons Nordstrom had to stop selling his daughter’s products, Trump went on the attack against them a week later.
About a week later, the president took a break from the job of running the country to personally attack Nordstrom. He said this on Twitter “”My daughter Ivanka has been treated so unfairly by Nordstrom,” Trump tweeted on Wednesday. “She is a great person — always pushing me to do the right thing! Terrible!” His press secretary also backed him up by saying that the store dropping her clothing line was a personal attack on Trump’s policies and Ivanka’s name. Just like with other companies that Trump tried to retaliate against, Nordstrom is now doing better than ever.
Nordstrom Rack is not the first company to be attacked by Donald Trump. Just like those companies, they are doing better now than they were. That could just be a coincidence, or it could be that their investors are thinking that their sales will drastically improve thanks to the gift of free publicity from Donald Trump. Another reason for the boost in the raising of their stock price or the way that going against a president that is lacking in popularity could boost its profile in the large metropolitan areas where the majority of their stores can be found. Their stock went down right after Trump’s attack against them, but was up four percent by the end of the day.
Despite Trump trying to wage war on Nordstrom instead of focusing on the world’s issues, they still won this war against the president and are doing better for it. Their stock share prices are up by nearly 5 percent. The final score of the battle- Nordstrom one, Trump nil.
Source: <a href=”http://www.vox.com/policy-and-politics/2017/2/8/14553562/nordstrom-stock-price-trump-ivanka”>Vox</a>