The furor over Nordstrom’s decision to drop Ivanka Trump’s collection, and the president’s unhappy response, didn’t seem to hurt its bottom line.

During the company’s late-Thursday earnings call, an Evercore analyst questioned whether Trump’s response “helped you or hurt you at all.”

“No, that would be negligible,” said Peter Nordstrom, the company’s president of merchandising, according to a FactSet transcript of the call. “I think it’s not really discernible one way or the other.”

News broke early this month that Nordstrom JWN, -3.07% would drop Ivanka Trump’s collections, explaining that it was a business decision, not a political one. A Wall Street Journal report found that sales of the footwear and apparel lines tanked 32% in the last fiscal year, with declines growing as the presidential election approached.

The president was not happy with the retailer’s decision.

Nordstrom shares momentarily slipped after Trump’s “Terrible!” tweet, but recovered in just four minutes.

Nordstrom reported fourth-quarter adjusted earnings per share of $1.37 per share, beating the $1.15 FactSet consensus. Sales totaled $4.32 billion, just below the $4.35 billion FactSet estimate. Same-store sales fell 0.9%.

Shares closed up 5.7% on Friday.

See also:Nordstrom’s discount stores drive sales gains

“Nordstrom ends [its] fiscal year as a company of two halves: the mainstream business, which is struggling to grow; and the off-price business which, overall, is motoring along nicely,” said Neil Saunders, managing director of GlobalData Retail, in a Thursday note.

Same-store sales for the Nordstrom Rack business, the company’s off-price retailer, increased 4.3% for the quarter.

Saunders attributes the “mainstream business” issues to the challenges facing much of retail, from declining mall traffic to the consumer’s desire for discounts, and cannibalization from the online channel.

“Nordstrom’s full-line .com business has traditional performed well, however, in our data we see most of the growth as having come from existing consumers who, because they shop online, end up visiting stores less,” said Saunders. “In this sense, Nordstrom is a victim of its own success and needs to explore ways of improving connections between its channels, or of persuading online customers to shop more frequently and to buy more.”

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In 2016, the company said Nordstrom.com sales reached more than $2.5 billion, representing about a quarter of the company’s full-price sales.

Online customer service is also a focus for the luxury retailer. Executives talked up the increased usage of the buy-online-pickup-in-store option, and the “successful” pilot of a mobile feature that allows customers to reserve merchandise online and try it on in stores.

The program launched in six Seattle stores in the fall, according to Co-President Blake Nordstrom, and has tallied more than 10,000 customer reservations. Based on that response, he said the company will expand it to 50 full-line stores this year.

“Its early and aggressive investment in 21st century technology has proven prescient, although costly, positioning Nordstrom at the forefront of the important retail developments; off-price, and omnichannel shopping supported by a single, easily accessible inventory,” wrote Stifel in a Thursday note.

Nordstrom plans to invest $3.4 billion over the next five years, with about 40% of that going towards modernizing the company’s technology platform, digital and mobile upgrades, and expanding the company’s fulfillment network, Chief Financial Officer Michael Koppel said on the call.

Stifel rates Nordstrom shares hold with a $40 price target.

Cowen & Company analysts believe that Nordstrom’s initiatives going forward, including its efforts to offer merchandise from limited distribution brands like J. Crew and Beyonce’s Ivy Park as well as those on the tech front, will help it compete with Amazon.com Inc. AMZN, -1.78%

See also: Ivanka Trump’s signature perfume soars to No. 1 on Amazon

“Going forward, the key challenge remains balancing the accelerating online business (that comes with high levels of variable growth), and the decelerating bricks business (that has a high level of fixed costs),” analysts said.

Cowen rates Nordstrom stock outperform with a $50 price target.