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Nordstrom shares rise after Donald Trump's criticism on Twitter

February 9, 2017
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Last week, US retailer Nordstrom announced that they had decided to cut ties with Ivanka Trump's line of clothing, citing declining sales. US President Donald Trump took to Twitter to express his disappointment at the news, saying that they had treated his daughter 'unfairly'.

"My daughter Ivanka has been treated so unfairly by Nordstrom," he tweeted. "She is a great person – always pushing me to do the right thing. Terrible." The post has been retweeted over 20,000 times.

Immediately after the tweet, shares in Nordstrom slipped to trade around 0.5 per cent lower, but they quickly rose back into positive territory and the retailer ended the day up by four per cent.

Donald Trump defended his daughter on Twitter

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Explaining their decision to cut ties with Ivanka's label, Nordstrom said in a statement: "We've said all along we make buying decisions based on performance. We've got thousands of brands – more than 2,000 offered on the site along. Reviewing their merit and making edits is part of the regular rhythm of our business."

Ivanka's line was dropped by the US retailer

They added: "Each year we cut about 10 per cent and refresh our assortment with about the same amount. In this case, based on the brand's performance we've decided not to buy it for this season."

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Ivanka Trump has taken a leave of absence from her namesake company while she serves as a White House adviser. The 35-year-old has moved to Washington, D.C. with her husband, Jared Kushner, and their three children, Arabella, five, Joseph, three, and Theodore, 10 months.  

Ivanka with 10-month-old Theodore

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