However, rather than backing away from the department store, investors began to buy shares in Nordstrom, Inc. sending the stock price shooting upward on CNN Money’s live stock market tracker.
Nordstrom — known on the stock market by its founder John W. Nordstrom’s initials, JWN — began Wednesday at $42.78 per share and by Wednesday afternoon was trading at $44.53 — $1.75 higher, a net gain of 4.09 percent.
The company stood strong in the the onslaught of Trump and his followers’ outrage, insisting in a statement Wednesday afternoon that its decision to pull Ivanka Trump’s line from stores was purely due to poor sales and not due to any political preferences by the company.
“To reiterate what we’ve already shared when asked,” the statement said, “we made this decision based on performance. Over the last year, and particularly over 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. We’ve had open conversations with them over the past year to share what we’ve seen and Ivanka was personally informed of our decision in early January.”