Nordstrom beats expectations on the back of anti-Trump bump

 
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Ivanka Trump's clothing brand was dropped by the department store earlier this year (Source: Getty)

US department store Nordstrom beat expectations in the first quarter to deliver sales of $3.35bn (£4.5bn), after it dropped Ivanka Trump's clothing line.

Net earnings were $63m compared with $43m in the same period last year. Sales beat the Bloomberg consensus estimate of $3.33bn.

Nordstrom attracted the wrath of President Trump in February, after it dropped his daughter Ivanka's clothing line. He tweeted that she had been treated "so unfairly" after the chain decided not to buy her brand this season.

My daughter Ivanka has been treated so unfairly by @Nordstrom. She is a great person -- always pushing me to do the right thing! Terrible!

— Donald J. Trump (@realDonaldTrump) February 8, 2017

It later emerged that sales of Ivanka's brand were more than 70 per cent lower in the weeks leading up to the US election.

But the media attention which came with the controversy did not mean Nordstrom was immune to the woes of its peers Macy's and Kohl's. Its comparable sales were down 0.8 per cent. Shares were also down today following the string of gloomy quarterly results from its competitors.

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