Nordstrom's stock closed 4.1 per cent higher after Donald Trump's tweet attacking the company https://t.co/hDozKp0w37
— Financial Times (@FT) February 8, 2017
Business Insider reports: Nordstrom is defending its decision to drop Ivanka Trump’s fashion line after the White House on Wednesday accused the retailer of lodging a “direct attack” on President Donald Trump’s policies.
A company representative said Ivanka was informed in early January of Nordstrom’s decision to drop the brand and that it was based on the brand’s poor sales performance.
“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 issued the statement in response to attacks from Donald Trump and the White House accusing the company of trying to tarnish Ivanka’s name. [Continue reading…]
