Nordstrom Inc. said last week that its decision to cut Ivanka Trump’s fashion brand from its lineup was purely a business decision and not based on protests like that from the Grab Your Wallet campaign, but it garnered a presidential response Wednesday, and its shares paid a steep if short-lived price.

“We’ve said all along we make buying decisions based on performance,” said a Nordstrom JWN, +2.37% representative in a statement provided to MarketWatch. “We’ve got thousands of brands — more than 2,000 offered on the [web] site alone. Reviewing their merit and making edits is part of the regular rhythm of our business. Each year we cut about 10% and refresh our assortment with about the same amount. In this case, based on the brand’s performance, we’ve decided not to buy it for this season.”

As of midday Wednesday, there remained three styles of Ivanka Trump shoes on the retailer’s website, each marked down.

Ivanka Trump’s footwear line is manufactured by Marc Fisher Footwear. Her brand is also among the G-III Apparel Group Ltd.’s GIII, +4.79% portfolio of brands, according to that company’s website.

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Last summer, the first daughter’s shoe line was sued by the Italian luxury-goods company Aquazzura, charging it with having copied one of that brand’s popular shoe designs.

But the Nordstrom move does come against the backdrop of political backlash against some Trump family dealings. Shannon Coulter, cofounder of the anti-Trump Grab Your Wallet campaign, has been tweeting about Nordstrom’s decision for more than a week, since news reports began to appear. The issue is also referenced in a story on the fashion blog Racked about the possibility that the line could be pulled from another luxury retailer, Neiman Marcus. Criticism has centered in part on what some see as blurred lines between brand promotion and governing.

“Neiman Marcus has a very small Ivanka Trump precious jewelry business which is [composed] 100% of consigned merchandise,” a Neiman Marcus representative told MarketWatch. “Based on productivity, we continuously assess whether our brands are carried in stores, on our website, or both.”

Neiman Marcus, along with Macy’s Inc. M, +1.60% ; T.J. Maxx, a TJX Cos. TJX, +0.80% store; and Wal-Mart Stores Inc. WMT, -0.80% , is among the retailers on the Grab Your Wallet campaign’s list of companies to boycott for carrying Trump family products.

MarketWatch has reached out to Marc Fisher about the issue and is awaiting a response.

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President Trump responded to the decision with this tweet on Wednesday morning:

Nordstrom shares slipped briefly, but recovered within minutes to close Wednesday up 4.1%.

See also: Nordstrom recovers from Trump’s terrible tweet in just 4 minutes

Nordstrom shares were downgraded to sell from neutral at Goldman Sachs on Thursday on same-store-sales worries. The Goldman price target on the stock is $35.

“Our chief concern is persistent [comparable store] sales weakness in its full-line stores, driven by structural pressures facing department stores,” analysts wrote in a note. “In addition, we are concerned about the underperformance of the [Nordstrom] Rack stores versus off-price peers, where store comps have lagged despite Rack’s very young fleet … that should be benefitting from ramping maturity.”

The Goldman analysts added that they “are concerned about margin pressure going forward as consumers shift online, de-levering fixed costs in the store.”