Nordstrom Inc. shares took a brief tumble Wednesday and then rebounded after President Trump tweeted that the department store chain that decided to stop selling Ivanka Trump’s clothing and accessories line had treated his daughter “so unfairly.”
The company said last week that it made the decision based on the brand’s performance, and that each year it replenishes about 10% of its supply with new products.
“My daughter Ivanka has been treated so unfairly by @Nordstrom. She is a great person — always pushing me to do the right thing! Terrible!” the president said on Twitter. The message was retweeted more than 10,000 times in less than two hours.
Nordstrom didn’t immediately respond to a request for comment. Shares in the Seattle-based chain traded around $42.70 before the president tweeted at 10:51 a.m. Eastern Time, then fell to $42.48 afterward in a flurry of trading. The shares have since recovered to about $43.15.
A social media campaign called Grab Your Wallet has urged a boycott of stores that stock Ivanka Trump or Donald Trump products.
Ivanka Trump has said she would take a leave of absence from her clothing and accessories business as well as the Trump organization. Rosemary K. Young, senior director of marketing at Ivanka Trump, said last week that the brand is expanding and saw “significant” revenue growth last year compared with the previous year.
Ivanka Trump’s business also came under fire last fall, days after the presidential election, when she appeared on CBS’ "60 Minutes" wearing a nearly $11,000 gold bracelet from her jewelry line and someone from the company sent out a marketing email with photos from the interview, seeking publicity for the line.
Wednesday was not the first time Trump’s tweets have at least temporarily influenced a stock. U.S. automakers and the Boeing and Carrier companies have also been affected by his comments on Twitter.
The president’s tweet came the same week that attorneys for his wife, Melania Trump, called the first lady’s high-profile situation a “once-in-a-lifetime opportunity” to profit.
First Lady Melania Trump has said little about what she intends to do with her prominent position. But in new court documents, her lawyers say the “multi-year term” during which she “is one of the most photographed women in the world” could mean millions of dollars for her personal brand.
Although…
First Lady Melania Trump has said little about what she intends to do with her prominent position. But in new court documents, her lawyers say the “multi-year term” during which she “is one of the most photographed women in the world” could mean millions of dollars for her personal brand.
Although…
In court documents filed Monday, her lawyers said the “multiyear term” during which she “is one of the most photographed women in the world” could mean millions of dollars for her personal brand.
Although the documents didn’t specifically mention Melania Trump’s term as first lady, the unusual statement about her expected income drew swift condemnation from ethics watchdogs as an attempt to inappropriately profit from her high-profile position, which is typically centered on public service.
Charles Harder, Melania Trump’s attorney, said “the first lady has no intention of using her position for profit and will not do so. It is not a possibility. Any statements to the contrary are being misinterpreted.”
Harder did not respond to a follow-up question about what the lawsuit means by “once-in-a-lifetime opportunity.”
The Trumps’ marketing has drawn scrutiny before.
On inauguration day, the official White House biography for the first lady originally referenced her jewelry collection, which it noted was sold on the home-shopping channel QVC. By the next day, that bio had been edited and simplified to say she had “launched her own jewelry collection.”
President Trump continues to financially benefit from his global business empire, breaking from past practice. Previous presidents and their families have divested from business interests and placed their holdings in blind trusts, although there is no legal requirement to do so.
Trump handed daily management of the Trump Organization’s real estate, property management and licensing operations to his adult sons and a longtime employee.
The Lucerne Valley Mustangs refuse to quit, a week in the life of P‑22, Senate rebukes Elizabeth Warren, and judges sharply question attorneys for both sides on Trump’s travel ban.
The Lucerne Valley Mustangs refuse to quit, a week in the life of P‑22, Senate rebukes Elizabeth Warren, and judges sharply question attorneys for both sides on Trump’s travel ban.
The Lucerne Valley Mustangs refuse to quit, a week in the life of P‑22, Senate rebukes Elizabeth Warren, and judges sharply question attorneys for both sides on Trump’s travel ban.
The Lucerne Valley Mustangs refuse to quit, a week in the life of P‑22, Senate rebukes Elizabeth Warren, and judges sharply question attorneys for both sides on Trump’s travel ban.
In an extraordinarily rare move, Senate Republicans said that Sen. Elizabeth Warren had breached Senate rules by reading past statements opposing Jeff Sessions from figures such as the late senator Edward Kennedy, D-Mass., and the late Coretta Scott King. Feb. 7, 2017. (C-SPAN)
In an extraordinarily rare move, Senate Republicans said that Sen. Elizabeth Warren had breached Senate rules by reading past statements opposing Jeff Sessions from figures such as the late senator Edward Kennedy, D-Mass., and the late Coretta Scott King. Feb. 7, 2017. (C-SPAN)
Trump’s travel ban is likely to head to the Supreme Court, the most controversial ad of the Super Bowl, California’s gearing up to fight the Zika virus, and prosecutors have charged an L.A. County jail guard with assault.
Trump’s travel ban is likely to head to the Supreme Court, the most controversial ad of the Super Bowl, California’s gearing up to fight the Zika virus, and prosecutors have charged an L.A. County jail guard with assault.
Abdullah Al-Rifaie, an Iraqi student, gains U.S. reentry after the court stay of President Trump’s travel ban from seven Middle Eastern, predominantly Muslim countries.
Abdullah Al-Rifaie, an Iraqi student, gains U.S. reentry after the court stay of President Trump’s travel ban from seven Middle Eastern, predominantly Muslim countries.
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