More bad news for President Donald Trump. Nordstrom stock rose on Wednesday, February 8, hours after the president criticized the department store on Twitter for dropping his daughter Ivanka Trump's fashion line.
"My daughter Ivanka has been treated so unfairly by @Nordstrom," the former reality TV star, 70, tweeted on Wednesday morning. "She is a great person — always pushing me to do the right thing! Terrible!"
Fortune reports that the retailer's stock surged on Wednesday, ending the day up more than 4 percent.
It was a sharp contrast to recent incidents that saw the real estate mogul target on Twitter other public companies, including Lockheed Martin, Toyota and Boeing, only to see their stocks plummet.
Fortune reported that some investors bought Nordstrom stock to show their support for the retailer after it announced on Friday, February 2, that it was dropping Ivanka's namesake line.
While critics of the president claimed it was because of the #GrabYourWallet movement, which encourages shoppers to boycott all Trump-branded products, Nordstrom said in a statement that the decision was based on the brand's poor sales.
"We've said all along we make buying decisions based on performance," the company said in a statement. "We've got thousands of brands — more than 2,000 offered on the site alone. Reviewing their merit and making edits is part of the regular rhythm of our business. Each year we cut about 10 percent 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."
Ivanka, 35, left the label she founded shortly before her father's inauguration last month, and has moved to Washington, D.C., with her husband, Jared Kushner, and their three children, Arabella, 5, Joseph, 3, and Theodore, 10 months.
As revealed in the new issue of Us Weekly, the former model and her husband, who is a senior adviser to his father-in-law, moved to the nation's capital to serve as calming forces for the short-fused tycoon.
"Sometimes Jared and Ivanka are a big influence, and sometimes he takes other opinions into account and does something they disagree with,” says an insider. "They win some, and they lose some."
For more on Ivanka and her husband — and how they advise the president — pick up the new issue of Us Weekly, on newsstands now.
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