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Trump publicly bashes Nordstrom for treating Ivanka ‘unfairly’ but company stock goes up

US president Donald Trump had vowed to separate himself from his family business to avoid any conflict of interest, but that promise seems to be faltering.

donald trump, nordstrom, donald trump twitter, trump tweet, nordstrom stock, ivanka trump, ivanka trump clothing line, nordstrom tweet FILE – In this Nov. 7, 2016 file photo, Ivanka Trump speaks beside her father, then-Republican presidential candidate Donald Trump, left, and vice presidential nominee, Indiana Gov. Mike Pence during a campaign rally in Manchester, N.H. (AP Photo/Charles Krupa, File)

US president Donald Trump had vowed to separate himself from his family business to avoid any conflict of interest, but that promise seems to be faltering. On Wednesday, Trump tweeted both from his personal account @realDonaldTrump and @POTUS attacking Nordstrom, an American chain of luxury department stores, for treating his daughter Ivanka ‘unfairly.’ The president’s outrage came on Twitter supposedly after Nordstrom dropped his daughter’s clothing line.

WATCH VIDEO | US President Donald Trump Slams Clothing Retailer Nordstrom For Dropping Ivanka’s Apparel Line

“My daughter Ivanka has been treated so unfairly by @Nordstrom. She is a great person — always pushing me to do the right thing! Terrible!” Trump’s tweet read. On last check, it had been re-tweeted 22,000 times.

But Trump’s allegations had zero impact on the financial health of the company as it’s stock went up by more than four per cent after dipping -0.5 per cent initially. In a statement, Nordstrom said, “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.”

Trump’s assault on the company came after he publicly berated Boeing and Lockheed Martin for either moving jobs out of the country or overcharging the federal government for aircraft. But what many people are pointing out is that unlike them, the criticism of Nordstrom was completely personal and linked to the president’s business empire. Moreover, Ivanka’s husband Jared Kushner is an adviser to the president.

Additionally, White House press secretary Sean Spicer also chipped in with support saying, “For someone to take out their concern with his policies on a family member of his is just not acceptable. And the president has every right as a father to stand up to them.”

Experts say the tweet on Nordstrom may irk other companies to think about the consequences of dropping Ivanka’s clothing line. In 2015, Trump had hit out at Macy’s for dropping his line of ties and shirts in a tweet that read, “Good news, disloyal (at)Macy’s stock is in a total free fall. Don’t shop there for Christmas.”

Democrats also wasted no time in slamming Trump for his action.

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“I think it’s inappropriate, but he’s a totally inappropriate president, so it’s totally in keeping with who he is,” Nancy Pelosi, a Democrat told Reuters.

(With inputs from Reuters)

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First published on: 09-02-2017 at 10:06:39 am
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