Trump’s Attacks On Nordstrom Just Backfired BEAUTIFULLY
President Donald Trump has stopped attempting to govern the country and has instead focused his efforts on shoring up his daughter Ivanka’s business interests. Nordstrom has made plans to stop carrying Ivanka Trump’s line of clothing and accessories after poor sales, but right wing snowflakes have decided that they are victims of persecution by the department store.
However, despite Trump’s attempts to slander Nordstrom, the company’s stock has actually seen a 7% increase since he began attacking it.
Initially, when Trump tweeted that Nordstrom was being “so unfair,” the company experienced a brief drop in its stock price. Investors have become jumpy and fearful about Trump’s willingness to attack specific businesses and even to target specific companies with threats of extra taxes on their 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!
— Donald J. Trump (@realDonaldTrump) February 8, 2017
Nordstrom managed to weather the Trump tweet-storm, however, and swiftly replied with a statement saying:
“Over the past year, and particularly in the last half of 2016, sales of the brand have steadily declined to the point where it didn’t make good business sense for us to continue with the line for now. We’ve had a great relationship with the Ivanka Trump team.”
It is probably the case that the declining sales are a result of the #grabyourwallet campaign that calls on Americans to boycott Trump family brands. Regardless of the cause, it is a prudent business decision – not a political witch hunt – to stop paying to stock items that don’t sell.
Investors were relieved by Nordstrom’s deft response and a clear denial of any political motive and the brand’s stock quickly recovered and then kept climbing. Trump’s attempt to bully the chain into carrying his daughter’s merchandise completely backfired. He was forced to realize that businesses and shareholders make decisions based on business interests, not the online ramblings of an elderly bigot.
Nordstrom has proved it can succeed without Ivanka’s brand and without Trump’s endorsement, and by standing up to Trump’s aggression it has paved the way for other companies to boldly stand up to the nation’s crybaby-in-chief.
