Last week Nordstrom decided that it was no longer going to carry Ivanka Trump’s product line and claimed that it had nothing to do with politics. The decision by Nordstrom lead to a whole bunch of controversies including KellyAnne Conway violating some ethics policies. Of course, most people believed Nordstrom dropped Ivanka’s clothes line for political reasons.
Slate.com wrote a piece on Nordstrom and if it had occured any stock effects from last week. Slate slammed Trump supporters saying that they don’t have the money to shop at Nordstrom anyway and here is what they wrote:
There are 80 Nordstrom stores or outlets in California alone, and none in many of the lightly populated states that Trump won: Kentucky, Arkansas, Mississippi, North and South Dakota. If you were to construct a Venn diagram of Nordstrom shoppers and the subjects of the book Hillbilly Elegy, the two circles wouldn’t touch. Many of Trump’s supporters are already boycotting Nordstrom—they just don’t know it. And others, like upper-income suburban whites, may ultimately not much care.
The translation of this is “Trump supporters are too uneducated, poor, and stupid to shop at Nordstrom’s”. Now, stocks do not usually represent the current reaction to a day’s event. They have measured profits for each quarter of the year, it would make sense for their stock not move. After their announcement, their stock did rise 4 percent. However, if what these women did continues to happen next quarter may not be very good. Below is a post where some women put their money where their mouth is. Here is the video:
Time will tell if any of these companies for or against Trump take any profit hits. My guess is some of the will I think a lot of us are tired of being bullied around. What do you think?