Nordstrom shares shrug off critical Trump tweet

Department store Nordstrom’s shares bounced back quickly after dipping on Wednesday morning following a tweet in which US President Donald Trump said the company had treated his daughter Ivanka “so unfairly” by stopping sales of her fashion label.

The company’s shares dropped about 0.5 per cent before quickly recovering to trade up 0.2 per cent in the minutes after the commander-in-chief’s latest social media missive.

The quick shrug-off by investors suggests that perhaps Mr Trump’s tweets targeting specific companies may be starting to lose some of their immediate shock value – for now. Since Mr Trump took office, corporations have been treading carefully in their media messages and staying on alert in case they are the next to be named in a Twitter post or speech.

Nordstrom announced last week that it had decided not to buy Ivanka Trump products for this season, not as a political statement but in response to what it said was the brand’s performance.