Nordstrom's Stock Goes Up After President Trump Goes After Them On Twitter

Nordstrom's Stock Goes Up After President Trump Goes After Them On Twitter

Trump slammed the upscale retailer on Twitter, saying: "My daughter Ivanka has been treated so unfairly by Nordstrom".

A company representative said Ivanka Trump was personally informed in early January of Nordstrom's decision to drop the brand, and that the decision was based on the brand's poor sales performance.

Shares in Seattle-based Nordstrom traded around $42.70 before the tweet, then fell immediately afterward to $42.50.

Stephen Colbert tore into Donald Trump during his Wednesday night monologue on The Late Show for a tweet the president posted about his daughter Ivanka's clothing line being pulled from Nordstrom stores.

BASH: It's basic business, which Donald Trump should understand.

Nordstrom announced it was dropping Ivanka Trump's clothing line.

More news: Yale study: More teens using risky vaping method

In a White House press conference Wednesday afternoon, press secretary Sean Spicer defended Trump's actions by citing his duty as a father to stand up for his offspring. A note from TJX Companies, the parent company of both stores, literally told employees to throw Ivanka Trump signs in the garbage.

The tweet also appeared in the middle of a news cycle that has Trump's travel ban on majority Muslim countries facing a skeptical federal appeals court. The campaign encourages consumers to stay away from retailers that carry Ivanka Trump products as well as businesses such as Trump wineries and golf courses.

The founder says she's tracked more than 230,000 tweets about it, and we found plenty too. The company said the decision was not a political one but just made "good business sense". "In this case, based on the brand's performance we've decided not to buy it for this season", it said.

"And it is abuse of power because the official message is clear - Nordstrom is persona non grata with the administration", Painter said.

Shannon Coulter is calling this development yet another victory for her #GrabYourWallet boycott of stores that do business with the Trump family.

In a statement provided to Refinery29, a spokesperson for T.J. Maxx explained that, at this moment, the company still sells Ivanka Trump items, and that its mission is to provide customers with a constantly-shifting selection of brand-name items.

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