Nordstrom News: JWN Stock Jumps 2% Following Fur Ban

Nordstrom (NYSE:JWN) is in the news Wednesday after a fur ban announcement saw JWN stock increase.

A Nordstrom (JWN) storefront in Toronto, Canada.

Source: Jonathan Weiss / Shutterstock.com

According to a Nordstrom news release, the company will stop carrying products made from animal fur or exotic animal skin by the end of 2021. The company says it made this decision after working with the Humane Society of the United States.

The Nordstrom news release notes that this change will affect the company’s Nordstrom, Nordstrom Rack and Last Chance stores. Customers also won’t be able to buy fur or exotic animal skin products on any of its websites.

It’s worth pointing out that Nordstrom already doesn’t use real animal fur or exotic animal skins on its private label products. However, it’s still carrying products from third-party brands that are made with them. That will stop when this ban goes into effect.

Teri Bariquit, the chief merchandising officer at Nordstrom, said the reason for the change was due to customer feedback. She notes that the company is continuing to change its offerings to best meet the desires of its patrons.

Kitty Block, president and CEO of the Humane Society of the United States, said the following about the Nordstrom news.

“We applaud Nordstrom for ending the sale of fur and becoming the first U.S. based retailer to ban exotic animal skins. This is a pivotal step toward a more humane business model and a safer world for animals, sending a clear message that animals should not suffer for the sake of fashion. Nordstrom’s decision will surely have a ripple effect on other influential fashion leaders.”

JWN stock was up 1.5% as of Wednesday afternoon.

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.


Article printed from InvestorPlace Media, https://investorplace.com/2020/09/nordstrom-fur-ban-news-bumps-jwn-stock-up/.

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