Nordstrom, Inc. (JWN) Stops Selling Ivanka Trump Brand Over Poor Sales

Advertisement

Nordstrom, Inc. (NYSE:JWN) has announced that it won’t be carrying the Ivanka Trump brand due to poor sales.

Nordstrom, Ivanka TrumpNordstrom, Inc. told several customers via Twitter Inc (NYSE:TWTR) that it will stop selling the Ivanka Trump brand in the upcoming season. The company has been the target of the anti-Trump #GrabYourWallet boycott campaign.

However, Nordstrom, Inc. says that it isn’t the boycott that is causing it to drop the brand. The retailer says that it chooses about 10% of brands to cut each year and replaces them with new ones. It notes that the Ivanka Trump was part of the 10% that got cut this year due to its poor performance.

Ivanka Trump isn’t actually involved with running her fashion line right now. She took a leave when her father became the President of the United States. The brand is now ran by Abigail Klem and a board of trustees. The company has refused to comment on Nordstrom, Inc. dropping the brand, reports NBC News.

Shannon Coulter the co-founder of the #GrabYourWallet campaign, told her Twitter followers “Big news everyone. You did this. I am in awe,” while linking to the Nordstrom, Inc. news. Her followers’ replies included seeking confirmation from the retailer, which it gave to them.

“As a brand’s selling performance is what we use for inventory decisions, we have decided not to buy more for the upcoming season,” Nordstrom, Inc. told one of Coulter’s followers replying to her Tweet.

JWN stock was up 2% as of Noon Friday.


Article printed from InvestorPlace Media, https://investorplace.com/2017/02/nordstrom-ivanka-trump/.

©2024 InvestorPlace Media, LLC