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USA: Investors Bid Up Nordstrom After Ivanka Dumping

USA: Investors Bid Up Nordstrom After Ivanka Dumping

Febrero 10, 2017

👤Periodista: María Alejandra Lopez Fuente: seeking Alpha 🕔10.Feb 2017

 

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.

Read Also: How Amazon could shake up the mobile payment industry

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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