a $9 gain for nordstrom. we all know nordstrom the department store. why is this happening? told there's a possibility nordstrom goes private. that's interesting. so somebody will buy out the common stock, presumably the premium and up goes the thing. any more. liz: nordstrom is announcing the exploration of possibly going private. this is an issue, how will they go private? who is going to help them. another beleaguered retailer with a bad balance sheet. to go private you have to have another boatload of debt. stuart: if you're going private, you have to buy out the shareholders. liz: and buy it. stuart: $8 higher. what do you think of that. >> i'd like to know what they're going to do next. if you take a private, a bigger on-line play or is there a play there. stuart: imagine those who sold nordstrom short. and suddenly it's up $9 a share and the shorts are holding a nasty little bag. 21, 22%, there's a gain. let's look how the overall market is opening up this morning. i'm going to say it's a muted opening, but please remember, the dow closed yesterday 32 points away from

nordstrom is kind of suffering same way that all department store chains are.rack line not well as it used to. online sales are a concern. there's cheaper alternatives. having said that, nordstrom better than its peers. >> retail is in a period of change. a period of massive change. the question is, do they want to recorder ofvestors, every month and everyday, do they want to take the battle in hand and transform the business. thing about nordstrom, mac have less stores than macy's. they can take the battle on own hand. scarlet: just to prove that point here, we have bloomberg locations.rom the yellow circles are nordstrom locations. everything else is kohl's you can see that nordstrom is limited. >> i get your point when you say it might be easy to do it behind closed doors. it doesn't help you address the cultural, the technological shifts going on. work against the department store model. particularly if you settled yourself with a load of debt in it.r to do >> you're right. top line is the biggest challenge. fix.s not an easy they don'trdstrom, have an answ

she shops here often. >> nordstroms issued this statement. we've been fortunate to build great relationships with our customers and employees at our dulles town center store for the past 15 years. however, our operating agreement is set to expire and closing this store is the best decision for us. nordstrom did not announce the specific reason that they are closing their dulles town center store. but it comes at a very competitive time for brick and mortar stores. amazon has bec online. it commands 33% of the e commerce market. last week it announced it is by whole foods to expand into food distribution. because of amazon, sears, macy's, jcpenneys have closed a number of their stores. the dulles nordstrom is only the second store that is closing this year. the nordstrom's customers we spoke with here seem to put for the instore experience. >> i don't normally shop online. >> either way, and feel the clothes before you actually wear them. sometimes online shopping, you never know. >> reporting from the dulles town center, chris, news >> >>>. >

but i'll say this, nordstrom's reported on may 12th. on that day the stock traded 18th, 99.5 million shares, three or four times normal volume, traded down 41 bucks. it hasn't bounced. today it closed lower than that may 12th bounce. you had a lower decent take. you haven't seen that bounce. my question back now that larry is gone, i don't want to bring it back. like last night, few haven't seen the bounce, when will you see the bounce? i think there is down side on jwm. >> he uses framework to get the european banks successfully. would you choose a nordstrom's or a kohl's? >> no the catalyst. i want to see a reduction in store counts, a massive reduction. i think we are way over short. i said this the ratios of the u.s. over europe are still a long way to go. the department store experience is one that people seem so stress as something we need, to a point. i think it's going the get back down the balance sheet will get to a place where you can get eps growth. >> that will only come through cutbacks. >> are you seeing any supportive ac

nordstrom also said no proposal has been made yet. but investors seem to like the possibility and sent shares up 10% to close at $44.63. >>> alibaba sees revenue growth that blew past analysts analyst expectations. shares popped by 13%, $134.34. >>> j.m. smucker saw sales fall because of weak demand for coffee and pet food products. cost cuts helped offset the decline. that allowed revenue to top street expectations. earnings also fell, but they came in ahead of estimates at the same time. shares off more than 1% for j.m. smucker to $128.51, sue. >>> bill, drug maker valeant said it would sell inobviovo to unit jointly owned by equity partners and carlyle group. shares rose to $13.26. >>> in a regulatory filing, clothing retailer urban outfitters warned same store sales are falling in the high single digits, a steeper drop than what the street was expecting. that news sent shares lower by 10% to $16.35. >>> yahoo!'s shareholders approved the sale of the company's core assets to verizon for $4.5 billion. according to reports, verizon w

nordstrom's. he founded it in 19101 in washington.se five collectively own about 25% of the stock. what's the reason? the company is very profitable. they will likely earn close to $3 this year the family members likely think there the worst is more value in going private within they can continue to make investments in the business about dealing with the depressing overlay of a publicly traded retailer. they believe they may be able pair what other sources of private capital to affect a purchase. two key points about this company. they have a very diverse revenue stream. first, for example, e-commerce is now 22% of revenues. that's very high, a discount is 31% of the revenues. secondly, the company pays a substantial dividend. at least for a retailer, 3.2%. high family ownership is unusual, it isn't unwe heard of. wal-mart family members own 51%. gap family members own 41%. urban outfitters 30%. amazon, 16 percent and fossil finders own 10%. unusual, not unwe heard of. >> thank you, bob dasani. >> i don't know if this will hold, the s

i've seen it at nordstrom. -patrick: it's everywhere. this is kind of what made our brand super famous. i literally drew it on, like, a piece of paper. i'm like, "we have to make the plane look backwards and do everything in reverse print." lemonis: that is pretty cool. patrick: i'm originally from new york, and then i moved here, to los angeles.

nordstrom had been ice cold until the company's management decided to talk about going profit. to me, that was a wakeup call to cause us to responder whether or not we had gotten too bullish on the market. it got crushed at the opening, it ended up at plus$2.83. this was just day one of that rally. what surprised me the most today, though, was that the rally also included health care stocks that had been stalled, chiefly pharma and biotech, as well as the companies that are involved in the extraction of oil, caterpillar and helmerica. last night i said it's worth it ic if you're a trader, because many of these stocks are severely oversold. the problem of course, is that retail, in actuality is very weak. and oil, while trying to hold $45 here, needs to see some supply cap or demand accelerating. i expect a counter trend rally to continue. but unless there's something real, you can watch the dow and i lost believe the defanging is something that you should have been ready and waiting for. investors love growth above all. particularly when the economy isn't moving all that well,

100% of nordstrom's outstanding common stock. right now, that stock owns 31 partnersh31.2% of the company shares. no formal proposal yet made. nordstrom's board formed a special committee of independent directors to weigh on the matter, and, i mean, it's clear. you get the family here, very frustrated. >> very invested too. >> caught up in the problems facing department stores right now. two years ago, this was a $75 stock. look now. >> that's right. and, you know, give them increased flexibility because, as you've mentioned so many times, bill, you know, retail is being disrupted in so many different ways. nordstrom, although online business does well, they have to monetize stores in a better way. stores are dropping off. >> they just want to pick up and go home. >> they don't want to play with the stock market anymore. >> i can't blame them. >> all right, time for a cnbc news update. hi, contessa. >> reporter: tackling the senate testimony today and justified the president's interaction with the former fbi director. >> of cours

nordstrom hasn't been totally amazoned if you have -- you may have to buy nordstrom. >> private equityal the other day pam ploma bought. >> it's a contract research organization and private equity beat it out. >> beat out lapcorp, and another strategic bidder >> quinn tiles did very well for private equity, which is usually quincy jones, so i think that maybe pam ploma thought -- >> i raw that point, because in the case of staples, a reporting from roy irs, i have no idea of what's going on. they say sycamore is interested and -- >> sycamore bought nine web. >> close to deal, again this is reuters, private equity firm, in advance talks to acquire staples in a deal tacked top 6 bil >> does this not say that the amazon threat -- they've made good acquisitions, some people must think the amazon threat is overdone, or nordstrom couldn't have been approached staples wouldn't, there's people taking a longer-term view. some say longer term, they're trade, but describe them, david. i think people -- sycamore does real vigorous work though some of them that made mistakes. >> listen, to broughtl

coming up, nordstrom may be going private.ould this be the start of a new trend in retail as they try to stop the retail bleeding from their stock prices. >>> we're still awaiting a statement from mark cass wits, the moment that begins we will bring it live. "power lunch" back in two minutes. ♪ >>> hi there, i have your cnbc news update. here is what's happening right now. ukrainian police say someone hurled an explosive device on the grounds of the u.s. embassy in kiev. no one got hurt. in a statement the embassy confirmed the exemployees and does not consider this a terrorist act. >>> polling stations are open across britain today. british prime minister theresa may and opposition leader jeremy corbin cast their vote this morning. energy secretary rick perry is in beijing. he met with china's vice premier and other chinese officials. it's the first official meeting between china and the trump administration since trump's decision to pull the u.s. out of the paris climate accord. >>> some new jersey police officers could get

cheryl: slowdown in the retail sector forcing department operator nordstrom thinking about going familyove as the chain struggles with slowdown, going private will be a risky move for nordstrom because it will have to raise debt but investors seemed to like the idea. the stock is down almost 7% so far this year. the effect amazon on the sector. lauren: indeed, hard to compete. dÍaz and confused, what was john mccain trying to say at hearing with james comey, we will tell you why he let up the twitter sphere coming up. cheryl: once again we continue to follow all the breaking news developments out of london. you're looking at a live picture of 10 downing. we are still expecting prime minister theresa may come down of downing street. she may or may not get comments. she may have to get the queen's approval to form a new govement. that news breaking in thla hour. we are following all the live breaking news after the stunning vote, theresa may's party losing the majority in the uk parliament. lauren: how it affects us right here in the u.s. here in the u.s. senator john mccain setting twitt

the great thing that we all know about nordstrom, you can take it home, wear it even and they never even said a thing when you brought it back not that they wanted you to wear it but nordstrom was legendary willing to take back clothes guess what, amazon legendarily will take back clothes kochlt people wear them and abuse it? i guess so that's height risk, right? you order it for the prom and then you send it back after the prom. >> yep nordstrom's program, and we know rent the runway. >> nordstrom hasn't done that well with trump club i think this is -- what do you do if you're niemann what are you thinking here it's like you wake up in the morning and say, oh, we're all right. they're going after food then it's like, holy cow, they're going after me do we ever want to leave our house other than to go to work i love my house. >> this has been your thesis for a long time. >> between the video games and -- my daughter buys a tv, 55". i have cable dad, it is the greatest tv in the world. i said did you hook up the cable? she said why why? >> downgrading the cable sector, which we'll g

the other school says that this stock is so low that the company could pull a nordstrom, meaning it might want to make its stock private. my take, just avoid the darn thing. you know why because live's too hard. blackberry reports last year it gave you the quarterly update, it wanted to monetize all that intellectual property it owns and the stock flew higher. to me, this thing's been a dog for so long. i had no choice but to say hold on, don't touch it but blackberry said that analyst has become a raging bull it's now above $10 and if it's going to stay above $10 you have to say, oh, well i missed that wti crude, half a horrendous couple of weeks, our analyst who so nailed that crude will go $10 higher, could be right that crude has bottomed out there's lower inventories and it has become a destroyer of everything it touches these days the possibilities for an actual rally higher have finally increased. here's the bottom line, while we still collectively real from the most disruptive deal in ages, amazon merging with whole foods, let's focus on a group of companies that could decide the

i've seen it at nordstrom. -patrick: it's everywhere.his is kind of what made our brand super famous. i literally drew it on, like, a piece of paper. i'm like, "we have to make the plane look backwards and do everything in reverse print." lemonis: that is pretty cool. patrick: i'm originally from new york, and then i moved here, to los angeles. lemonis: where in new york? patrick: i'm originally from upstate binghamton. -lemonis: okay. -patrick: which is where we had our family bakery and our family business. and then i -- lemonis: you were a baker? patrick: my dad was. my dad lives in upstate new york. lemonis: and your mom? -patrick: is no longer here. -lemonis: she passed away. patrick: my mom died eight years ago this week, actually. lemonis: oh, man. patrick: when someone is dealt something like that and such a tragedy -- and she was super-young, too -- you can either go super depressed and put your head under the covers, or be like "[bleep] it, life is too short. i'm gonna live my dream and do exactly what i want." so, 10 weeks lat

nordstrom is solving the problem by going private i thought bed, bath might too, because the companyght back so much stock. but the stock peaked at over $80 in 2014. now the stock is under $30, meaning they repurchased 62 million shares at higher prices. they said if they could have for seen what thestock was going t do, we would have acted differently. no kidding they might as well stuck the money in a fireplace what happens now i think the stock has to start reflecting this new world even more than it has it still reflecting too much of the old world. unless they can develop something new and different. will the pendulum swing too far? it always does but has it yet i don't think so the company is still worth $4.2 billion and the stock only yields 2%. my advice, if you like it, shop there. it's a heck of a lot less risky than owning the stock. and don't forget your coupons. much more "mad money" ahead, including my take on sena health and with news that the fed is hiking rates, are you running away don't make a move. and tropical storm cindy is coming ashore. are the power outages p

what is the real problem macy's, nordstrom's, sears? >> the real problem is that retail is over stored now. it's not a liability, it's an asset. the problem for retailers today is getting it to be flexible enough to use in your online business and some have done a nice job. i would call out nordstrom's -- >> in a good way. >> yes,a pos it tiff way. sweat iing the asset and use the assets for both channels and that's where retailers have to go. and if you can't do that and we discussed it. >> 92% are still done off line. >> that does include gasoline sales. financial flexibility. proi vat he cequity and then ths everybody else, can you split it down the middle? >> you can certainly split it and i think when you're looking at the retailers that did leverage up and these would be the private equity owned companies, they may not have the flexibility to do what they need to do. you have to invest in your online business. you have to compete against everybody and think about it this way. amazon and walmart right now are in the middle of a bat

. >>> shares of nordstrom sword, on the news that it michael profit. -- might go private.om, along with other big retailers, have seen sales drop due to online competition. >>> a 64-year-old woman was critically injured by a hit-and- run driver. the family tells us that she died from her injuries today. she was visiting from india and was crossing s. main st. near her temple when she was hit car. officers later arrested 35-year- old driver of san jose. we have not heard if the charges against the driver will be upgraded. the city of the pedis -- the city spotted two new safety measures. >>>-year-old boy with generous bones. cle is helping others and serving as inspiration. >>> will be finally seen -- cn and to the rain? whoa! you're not taking these. hey, hey, hey! you're not taking those. whoa, whoa! you're not taking that. come with me. you're not taking that. you're not taking that. you're not taking that. mom, i'm taking the subaru. don't be late. even when we're not there to keep them safe, our subaru outback will be. (vo) love. it's what makes a subaru, a subaru. >>>

we haven't talked about nordstrom at all.re are some people who theorize that the nordstroms are sellers. like the belt family got out another a high multiple. >> so they come in -- >> sold to youth. >> talk about putting a group together, including their 30% equity ownership only to try to find another buyer? >> maybe not -- some people are saying they're sellers of their 30%. >> really? >> yes. yes. >> speaking of nordstrom and citi, citi yesterday on jwn -- we must be missing something. we -- what might make someone want to lever up to buy some of these names? talking about the challenges in retail. >> there are several -- i'm told there are several companies that are serious about this, and that have kicked the tires and kind of like what they see. >> but they would roll in with the nordstrom family. they're not going to take them out. >> not all. >> it's still fairly early days. they want to move quickly on this. but a special committee of the board is set up. but they have their adviser, in terms of having that partner

doctors say by taking time off you gain improve d -- >>> and nordstrom doing well.rday the family that owns the store announced it might go private. stocks started soaring. nordstrom invested in online sales earlier than other retailers and has a firm focus on customer service. >>> the size of leg room? what's one thing you want on a plane? how about speed jer wi-fi? apparently that's what passengers are asking for and you know the saying. ask, you shall receive. delta and american airlines already signed on for faster speeds and jetblue has a high-speed wi-fi, be careful what you wish for. chances are faster wi-fi will cost you more. >> oh. >> always a catch. >> tried that before. it's not great. the wi-fi in the sky. >> especially if you want to watch a favorite streaming show? not happening. >>> he faced flames to save a life. >> a teenage hero honored for bravery. >>> plus, dry drowning. what you need to know about the slept killer as we get into the summer months. glenn? >>> well, the heat is right on our doorstep. the temperatures are all rising. and we're goi

nordstrom surged and this was on the idea they may be considering taking themselves private and nordstrom's big move almost up 11%. it brought all the retailers higher as well. there was a lot of green on the screen. exciting day, back and forth. but traders a-okay with at happened today and moving forward. david:ee minutes after the hour, all indexes are in the green. nicole. thank you. melissa. melissa: getting heated on the hill, former fbi director james comey testifying in front of the senate intelligence committee earlier today, revealing startling new information. let's go to adam shapiro in washington with the latest. break it down for us. reporter: revelations were quite impressive. there is loretta lynch. we learned the former attorney general, approached then fbi director mr. comey regarding investigation of the hillary clinton email scandal and bill clinton's meeting with loretta lynch at the airport aboard lynch's aircraft in phoenix? she asked him not to call it an investigation lynch asked, but call it a matter. there was the whole thing about mr. comey actually coordinating

big retail names like nordstrom, j.c. penny's and discounters all down 3 to 8% or more. that's a lot. the it's a simple idea. try before you buy. pay for what you keep. pick out three items or more, get shipping for free and you have seven days to try the stuff on and decide what to keep. trz simple idea. real genius is the return policy. you get 10% off if you keep three or four items. 20% off if you keep five or more. the more wryou keep, the more y save. don't ooefb even need to be home when they come by to pick it up. in theory, this is not a retail apocalypse. they will support brands outsidn and others. that may be true, but the market didn't act that way. every large shoe maker was down 2 to 3% including deckers and sketchers and steve madden. tough day. i'm bob pisani at the new york stock exchange. >> so, from shoes to food, amazon certainly is reshaping how the retail industry works and it may be about to do the same for the economy as a whole. as some economists now believe this deal with whole foods could push down food prices and therefore, inflation. jack m

they were actually nordstrom sales guys and they now sell to nordstrom'. >> isn't that cool?you know, involved with them. >> they deal with a lot of high-end customers as well. >> absolutely. >> celebrities and stuff. >> absolutely. >> okay. from the pocket square to the cuff link. >> yeah. cuff links here we have brand out of london. the founder of this brand actually was a university of pennsylvania graduate. >> i love all the -- alumnus with my school. >> penn connection. >> the cool thing about these a lot of them have moments to them. the globes actually sin spin. the gears actually rotate. the cards which i'm wearing today have jack, queen king and three aces if you have an ace up your sleeve. >> nice. do you care that or fold them together and just have a nice elegant silver cuff ripping with that as well. >> nice. >> they also has stackable bracelets. so you can make this the gift that keeps on giving. >> you have these on. >> right. i'm wearing two of them today. >> yeah. >> but you can buy dad one for father's day today. buy him one for his birthday later in the yea

nordstrom may have found a way to alleviate the pressure that many retailers are feeling these days, by going private the heirs to the department store chain are looking into buying shares of the company that they don't already own. if the company is private, there would be less of a need to try and show profits on a weekly or quarterly basis. >>> apple has a new product to compete with google home, the home pod, apple's first new product since the apple watch. >> just like we did with portable music, we want to reinvent home music. >> it will retail for $349 and it's a combination of a speaker and microphone, which responds to royvoice requests home pod is expected to launch later this year. >>> estate sales westbound an adventure for buyers and for the home buyer, they can be time-consuming, awkward, unusual. people are traipsing their home, touching things and looking to pay next to nothing for your home possessions everything but the house may have a solution. andy neilson is the company's ceo. thanks for being here. >> thanks for listening. appreciate it. >> how does everything

nordstrom may have found a way to alleviate the pressure that many retailers are feeling these days byng the department store chains are looking into buying the companies that they don't already own. if the company is private, there would be less of a need to try and show profits on a weekly or quarterly basis. >>> apple has a new product to compete with echo and google home. it's called the home pod and it's apple's first new product since the apple watch. >> just like we did with propertiab portab music, we want to reinvent home music. >> it will retail for $349 and it's a combination of speaker and microphone which responds to home requests. home pod will launch later this year. >>> they say sales can be an adventure for a buyer and for an owner, it can be awkward and emotional. people are looking through your home and looking to pay next to nothing for your possessions. an online company called everything but the house may have the solution. joining us right now is andy neilson, the company's ceo. how does everything but the housework? >> it's an online estate marketplace. we have

nordstrom brought several e-commerce companies, there is a lot of consolidation happening to boost innovation faster change. it will take a long time for retailers to catch up and of them will ll make it. we have started to see the shake-out and i think we are at tip of the iceberg in terms of store closings and companies it out go figure away. host: from virginia, bill, who work necessary retail. hi. caller: hey, good morning. my comment is really more, i mortar, it brick and is a little bit of a dinosaur, shopping is still great and wonderful, but those customers who bought online and not happy with what they got, it was the wrong color, wrong fit, whatever, are still back to the brick and mortar stores for customer ervice for -- i need to exchange it, i want to return it, i don't want to deal with ttake care of me and that puts onus on brick and mortar stores to service customers that not their customers in the first place. that is right. it is a huge burden on stores, ou have used your cost base on internet, maybe shipped them a couple things, you picked up the they r shipping and now are

if that happens now, yesterday you guys talked about nordstrom's. that's running to be private. there's going to be other companies, american eagle, abercrombie. you watch these guys who is going to go home short these names? they could get dragged private. it's not worth the risk. it's not worth a bright future. i think it takes that short overland and forces people to buy a retail sector that's been thrown out. >> we talked about trades and the impact of ets, particularly the qs. the qs today we saw extremely heavy volume, 4.5 times the volume traded in this particular session. did we see that race for the exit? >> to me, again, i think in the qs, you have a liquidity trade. you have a lot of people being very defensive, playing the qs, playing the big names in the qs. we have an enormous amount of volatility. i would make the argument it was a reaffirmation for growth. i could feel very good and say forget what happened, if you read the papers, at least a lot around here, it tells you we have a lot of hot water ahead of us. the market told you whether we get any policy or not

>> i think nordstrom's get done. >> you do? >> yeah.f i'm nordstrom, if i were the brothers i would be selling it to the private equity because it's just -- it's happening too fast now it's really happening like lightning. matthew boss from jpmorgan he down graded nike yesterday, he has been predicting this vast shakeout we didn't think it would be this fast this quickly in the supermarket business three german companies are in the private, they can lose money. >> by the way, just to put this into some perspective, this is the biggest ever acquisition for amazon it is the biggest ever u.s. grocer m&a deal. we have had a few big ones in the last - >> how does supervalu stay around >> m&a value is still negative which is a comment on where we have been so far this year. >> unless it's strategic like amazon everyone is worried about taxes. amazon is not that small a thinker. amazon is a big thinker. i think amazon stock going to go up even higher because they have the wherewithal. this grocery business has been waiting for rationalization.

there's a number of companies that offer similar openings nordstrom verse trunk club.e's how amazon is setting themselves apart. price and variety. amazon gives shoppers return less. if you buy five or more item the retailer will give you 20% off. shoppers get to choose from more than 1 million items of clothing, accessories and shoes from brand like calvin kline, levis and acosta. >> the clothing sales are expected to grow to 28 bill don't by next year. not all could be semers are ready to make the switch from in stores to online. >> 40% of shoppers prefer to shop if department stores. in los angeles. hillary clinton, fox business. >> next at 10:30. d.c. fire bolstering it's team. >> and we'll introduce you to four legged member of the squad coming up. up. >> loss vehicle ago tied record high of 117. you know they're getting a hockey team? >> what? >> ice hockey? >> expansion draft was tonight for the las vegas golden knights. nrikts continue to be cancelled in u.s. too hot for planes to take off. >> especially how hot is in in arizona drink watt airport sti hydrated.

sounds like me at a nordstrom shoe sale. [ chuckles ]

kind of like nordstrom given how much value they lost under the old regime they said they would nominate five new board candidates at the annual meeting because they believed the board had gotten steal. in late march rent a center hit back and got the poison pill plan to limit any shareholder from owning more than 15% of the company. in april they announced a strategic plan and things got quiet until the annual meeting last week. that's when another activist, marcotte capitol took a stake and reported and engaged sale if rent a center didn't get on board. they delivered ugly numbers from the company and declined by double digits. when the company reported in may the earnings were slightly better than feared and the stock rallied on the news and even as same-store sales declined. in short, business is not that great. for the most part the stock is rallying on the hope the activists can accomplish something. what about the strategic plan in april? it will entice in more customers while giving people better early payment options if they want to skip right from renting to owning however, the

might be taken private by sycamore, a very private equity firm long been considered amazon road kill nordstrom is very much pursuing its own private transaction. i think buying that stock here makes sense. it will most likely be sold at a higher price both deals are based on the idea that amazon isn't going to wreck their business perhaps all that selling in the marketplace, including, of course, the bed bath selling tonight, is overdone meanwhile, there are other companies that are taking advantage of amazon. yesterday, nike stock went up because of talk it might partner with amazon. amazon, biggest customer in terms of clothes, is the biggest customer of clothes for pbh. that's right, pbh has amazon as a terrific partner a potential deal for nike is good, it's great for pbh the stock rallied almost 4% today. huge disconnect in the market when it comes to amazon fear the biggest winner in the destruction of them all is by far tjx. they mark up for a lower price than amazon can charge and they still make a boatload of money no one cares, though no one cares right now seems to make a new low ev

. >> this is nordstrom or bl blooming dale. >> he'll get us a knock-off. >> somebody's real hair. >> behalf the har half the price. meanwhile ikea furniture on mzamane you will get up there and it won't work. >> thanks, wiz. >> 5:21 is the time and coming up today is taco tuesday. p watch did you know. >> no. >> taco tuesday. >> it's all facing golden states warriors we'll explain filling up. more changes coming to uber as shakeup at a ride sharing family slowly getting up it looks like ike 5:21 it the time. back after ck after hi guys. it's great to be here. in the desert. at the mall. on the mountain. at school. at the beach. in the big easy. yeah yeah today i want to show you guys the next-gen chevy equinox. what do you think? that's pretty. pretty sexy. it looks aggressive. but not overbearing. it's not too big. not too small. seems like the perfect car for anybody. i would take it anywhere. she's a bad mama jama. (laughter) current qualified gm lessees can get this introductory lease on the all-new 2018 chevy equinox for around $249 a month. find new roads at your local chevy de

it could potentially allow nordstrom. >>> it's time to ask finney and today cheryl has a question about plans. >> michael finney has her answer. >> what is the best phone plan to use when you are traveling in europe and you are in and out of several different countries? >> hey, cheryl. there are three ways to go about this. first you can pick up a sim card overseas and pay the local going rate and you can set up a temporary plan with your carrier here for overseas calls. now it's pretty simple to set up but could cost you 10 bucks a day and more, and a high rate if you are not careful. your third option is to use skype or a similar service at wi-fi hot spots and then you pay nothing at all. >> did that just cut off michael finney? rude. >> you can't do that. >> if you have a question for michael finney, record it on your smartphone or tablet and post it to social media with #askfinney. #askfinney. >>> a group of looked at to how they put on their own sun screen. >> as each of the children applied, none of them hit the ears, and the ears are actually very vulnerable to sun children forge

you name it, from urban outfitters, macy's, jcpenneys, neiman-marcus, nordstrom. apparel has been disastrous. the reason? i think it has to do with brand loyalty. there is none. even a few years ago, you wore crew, you know what you wear now, you wear clothes? in the old days you liked crew style. now you wear whatever you saw last. even louisiana lemon. i think lulu has beaten back "lot of the competition. but in the age of amazon. where driving to the malls -- mickey couldn't entice people to go to a place they didn't want to go to begin with. who cares how the stuff looks if no one's there to see it? traffic, not the merchandise itself, is the real retail killer, as we heard today in a difficult presentation by macy's. which saw its stock drop 8%, to a 52 week low. pvh which we had of all time, has done a fabulous job putting together a house of brands. i would argue that manny's best move was diversify away from the united states where the real growth is, his second best? keeping inventories lean here in america. although it's important to point out that one o

i'm looking at sears, nordstrom, macy's, i'm seeing pain, pain to the left pain to the right. the uk retail story not look so bad. are they in terminal decline >> the street is looking for about 20%, 25% mall reduction in the footprint. i'm calling for 40%. >> that's a cataclysm. >> not just the retailers, they can adapt. for holders of property development assets, cre across the board which has a retail exposure, that's the chiming of a huge bell. >> it's a disaster of the reits. we've seen reits take it on the chin traffic declining in double digit rates. the uk, as you said, looks like disneyland compared to the united states now. i think we need more store closures here. and the price wars, whether it's in apparel or grocery, it's just continuing you'll see margins continue to come down in the sector. we've already seen about 3,000 stores in the united states close this year alone. >> one thing we have not mentioned, could be the biggest story as well. amazon, first quarter north american sales, $21 billion. i don't know why they're bothering with stores. they're wiping ou

it although some could say it's an extension of the buying in retail that started last week when nordstrom said it might go private and it's sizzled out before we tell ourselves the tech selloffs over and we can go back to buying we need to address a two-part conundrum in this rally first, comeback is anemic. plenty of teching well below they were thursday if there wasn't more to the sell-off they should be higher perhaps perform we get analysts go, rah, rah, remember that nvidia rally, but didn't get it today. second, other rally similarly lacked punch it was a grade b. end of rotation action. not something seething a strong comeback that gives us a launching pad to higher prices in short, what we had for all intents and purposes, end of banks, retailers oils, industrials, a less than enthusiastic move into tech leave as couple scenarios that need considered. first, entirely possible a surprise from the fed. something that makes it so today' non-tech gains are repealed and money flows back into tech fas it never occurred. complicated but to happen. second a possibility the fed is hawkish

nordstrom's has their own version called trunk club.pportunities to keep more and return less. the you buy five or more, you can get 20% off. shoppers will choose from clothing, accessories and shoes from brands like calvin klein, adidas and levi's. amazon's clothing and accessory sales are expected to go to $28 billion by next year. amazon has convincing to do. shoppers are not ready to switch from instore to online. 40% of consumers still prefer to shop in department stores. neil? >> neil: bottom line, if i wanted to order a bowling shirt and i wasn't sure the size, all of a sudden it doesn't fit, i can send it back in a box that they provide and boom, right? >> that's right. they pick it up for you. goes back. you never were never charged in the first place. >> neil: i don't know. they're taking over the world. be careful. hillary vaughn, fox business network. a lot of retail stocks are down on this news today. if that isn't proof that it's dangerous, it's dangerous. more after this. she's nationally recognized for her compassion and

but i do think this was a stifel note very aggressive but i think nordstrom will do the job.oger people, we're not that bad. >> do you know how hard a business this is >> yeah. i mean, the board meeting. you know, we're not terrible but walmart this guy doug mcmillen who has been so low key he wants to own the supermarket. by the way, remember brian cornell at target he's trying to find relevance in the super market at the same time, kroger is a supermarket. they have to do the buyonline, bogus -- none of the guys love that, but walmart is going to do it walmart they have guys who will drop it off on the way home. i have to invite that guy in for a scotch he can't, he's driving. >> you're right about nike selling off. now the dow's worst stock. 2% plus. >> no pain without gain. just like the shoes. i like the company nike but it's been a -- a real dog remember they use flex technology >> meaning >> meaning that they have incredible technology to individualized shoes flex is a really good on demand technology company been a real winner this company is not -- again, i think tha

what happened to all the other companies, kohl's, gap, nordstrom, they don't like that one bit. melissa: nicole, best in the business. we love to have you here at the close. thanks. david: despite critics saying it can't be done, paul ryan pushing for tax reform this year. he says he is confident this congress can make it happen. listen. >> we're going to fix this nation's tax code once and for all. you will hear that tax reform is coming along one day. you will hear tax reform is dead. do not be surprised by any of this. we are going to get this done in 2017. you know why we're getting this done in 2017? because we have to get this done in 2017. david: we need the money. here republican congressman mark meadows from north carolina. he is the chairman of the house freedom caucus. congressman, great to see you. let me talk about something paul ryan didn't talk about, which is the border adjustment tax. did they finally get the message from folks outside of the beltway, we don't want a new tax? >> i can tell you i don't know that the message has been fully received but it is almos

nordstrom dropped, dillard, kohl's all driving 4 to 5% today.flix and apple gaining more than 30%. isn't that great? these names are getting crushed. macy's down 40%. j.c. penney, target,24%. to your point, neil, amazon has seen 155 million people in the first quarter running to amazon.com. that is over 60% of all internet users here in the united states of america. the second retailer is not even 5%. so just shows you when a behemoth amazon is and what the retailers are facing. >> neil: incredible. nicole from the new york stock exchange. john kelly just said something very frightening today. and i mean really frightening. not about what's going on across the pond, but what could be going on here. >> nei >> in many, many cases the refugees have no paperwork, have no passports. we have to take their word for it. in the past, we exercises too much good faith and i think the things that we're looking at is okay. if you don't have a passport, you have no proof of who you are, we need to know some additional facts and figures about you. >> neil: doe

of course, nordstrom's kind of got the whole thing rolling when they talked about going private earlier other big winners including dillards, up more than 6% for the week. here's the bottom line, you must always have a balanced portfolio, okay? because with the best names in several sectors and a lot of times you want to be in sectors that are not hot because that, as today proved, right, what's not hot can become hot, and what's cold can become hot. so in other words, don't always chase. in fact, the rest of the market in my mind is starting to break out. the dow made a new high, the russell 2000 made a new high today. that is great news for investors. one of areas you've got to be in, those infrastructure stocks, that dirty fingernail report i told you about? a lot of those stocks took off. go to wstreet.com for that. street week tonight, special guest egyptian billionaire and developer, najib. >> i also want to do my contribution. we can't just stay like that and watch them continue doing that, continue lives going down in manchester, in london, in paris and everywhere and nobody's d

nordstr nordstrom, j.c. penny, chico getting slammed. could this be the final nail in the coffin for traditional retail. >> for a lot of them, absolutely we give dan nathan a lot of crude, but you got to give him credit op this one he said the etf, worst chart he's ever seen ch he was right good for dan is it the nail in the coffin for a lot of these folk, yes we've been cyst enter on that. what i've been wrong on has been target i thought they held a huge level. the same low we made in 2014 and it looked like they were in terms of the stock, turning the corner a bit obviously, this thus came out u and it's all bets are off. but where would i go i still think target is is interesting. but i think you got to buy it now to break it above 55 >> some is is just a mechanical reaction to last friday's news a analyst community weighing in. you had a bunch of downgrades. is it the final nail not sure, but these are folks that have fundamental and secular issues fundamental side is we're still way too oversupplied probably five times as much squa

they think people in these pictures on the bottom left stole six torey burch purses from a nordstrom rack in langhorne. it happened last thursday. together they were worth $1,200. if you have any information please call the police. >>> all right. coke in the sticky situation. company created an ad that fell flat. >> not good for soda company and now it is apologizing to an entire city, what did they do? we will show you coming up but first here's sean bell. >>> coming up in sports in a minute we have an update on the sixers trade whether or not that number one pick will come to philly, coming up next in sports. >>> i'm sean bell, it is reported that the trade between sixers and the celtics will go down, today, the sixers trying to get that number one pick and if they do , pencil in markell fultz. the phillies and diamond backs ninth inning, phillies up by one, hector neares, blew the save, and then in the tenth, die machine backs, fuentes with the solo shot, to dead center that is 424-foot bomb, phillies lose five-four getting swept, on the weekend series. >>> to the u.s. open at eri

nordstrom, family owners exploring going private. a $70 takeout scenario.tor jumping in to be part of that. at's talk about the market, stress free market going into the friday session. investors have assessed geopolitical risk as idiosyncratic and focused on the global economy powering ahead despite lower inflation. this is the b of a merrill lynch at its lowest since 2014. a lot of things to do with options, very much changing as we speak. guy: it certainly is. a volatile week for the energy market. stabilization beginning to creep in. give us the feed on what is going on. where we sing the market, down? su: a little bit of short covering as the market stabilized. let's go into another bloomberg chart. we want to show you the daily york traded crude oil. drops over 5% yesterday. we have not had any climbs over 5% since november. in short parlance, harder than the buying action. the headlines are, many traders -- we closed it near the low. to $46 after trading in a big way on a supply build. to quote one trader, every time we get a trade that shakes our co