USA: Investors Bid Up Nordstrom After Ivanka Dumping
Nordstrom (NYSE:JWN) is up another 2.40% to extend on yesterday’s rally after the company decided to stop selling the Ivanka Trump line of clothing.
The company said the business decision was based on sales trend, a contention backed up by data from Slice which showed a 66% Y/Y drop in Ivanka-related sales in November and December.
POTUS and White House Press Secretary Sean Spicer have both made digs at Nordstrom over the issue.
Shares of Nordstrom are down 10.11% over the last 52 weeks, compared to the 12.46% gain for the S&P Retail ETF.
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