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MrRodgers -> Nordstrom, KMart others cutting Trump family prod. (2/13/2017 6:53:48 AM)
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Add Sears Holdings (SHLD) and Sears-owned Kmart to the list of companies that are shying away from the Trump family brands.
The major retailers announced on Saturday that they would no longer carry several dozen Trump Home products, according to Reuters.
"As part of the company's initiative to optimize its online product assortment, we constantly refine that assortment to focus on our most profitable items," said Sears Holdings spokesperson Brian Hanover, according to a statement acquired by the outlet.
"Amid that streamlining effort, 31 Trump Home items were among the items removed online this week," he said. Those products were reportedly sold only online and not in brick-and-mortar Sears and Kmart stores.
Meanwhile, the Wall Street Journal reported a 32% sales decline of Ivanka Trump-brand merchandise at Nordstrom (JWN) in the prior fiscal year, citing internal Nordstrom data. The data also reportedly shows a more-than-70% sales tumble of the brand's footwear and clothing items in the second, third and fourth weeks of October vs. prior-year sales. Those weeks marked the period leading up to the election.
Fashion news site Racked.com has reported that Neiman Marcus, Belk, HSN and ShopStyle have dropped Ivanka Trump merchandise.
Meanwhile, Wal-Mart (WMT)-owned Jet.com also appears to have pulled Trump-branded goods, Mic reported, though Wal-Mart itself still offers Trump merchandise.
T.J. Maxx and Marshalls, both owned by off-priced retail specialist TJX Cos. (TJX), also seem to be pulling back on Ivanka clothing.
Sears Holdings shares rose nearly 26% in Friday stock market trading as the ailing retailer said it will slash costs further and could sell more core brands and real estate. The stock hit its lowest level since 2003 on Wednesday.
Despite the attack, Nordstrom shares rose sharply on Wednesday to notch its biggest one-day gain in two months.
HERE
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