abercrombie, canada goose tumble on disappointing results.e will hear from the tommy hilfiger owner later this hour. joe: we begin with another risk off day for the markets. havens.s fleeing to bloomberg macro strategist, the bond market, what does it mean, the inversion, the rally in the long and. -- the long end. market traditionally has done a pre-good job of forecasting recession, but that doesn't mean that every bond -- none of the other major curves inverted. at how: when you look sustained this bond rally has been an overlay it with equities forgot to make, what do you take from the? -- from that? >> i have been stunned how much the bond market has rallied. it is almost like people are trying to talk themselves into a recession. i don't know if he actually said it that i wrote something today quoting supposedly vladimir lenin who said, "a lie told often enough becomes the truth." repeatedde up quote often enough. cameron: pricing repeated frequently enough becomes the forecast. joe: from the fed's perspective, they look at the data --

abercrombie and fitch is tumbling and canada goose is taking a hit you can see that number for abercrombieking 19% today. >> when they get that forecast, maybe being flat next year, why do you want to own that stuff? why do you want to own it? >> hey, i spoke to dan reeves, from a canada goose. >> if you almost stop, you feel some pain, don't you or is that okay? >> this is not a good time to go by canada goose. they did have a good winner. >> what do you do? >> chinese consumers -- why would you add stores if you are not doing well it is a great brand. here is my problem with canada goose. i am now an expert pleaser >> this is not the eisenhower. i think canada goose as good as i think. i found myself in a surreal position they have unbelievable growth. when you listen to the growth, they do have u.s.'s 40% growth this is not the season to buy. danny pointed out, the ceo who's terrific he said look, i put out a number and i deliver that number. it was analysts that got above some people are not playing under the game >> well, is it about sort of the chinese consumers or just about a thous

abercrombie and fitch losing money although less than the market expected, the stock is down 10% on abercrombiethe rest of the market, market selling off across the world on trade fears, china for running to cut off rare-earth minerals. exported to the united states. huawei filing new legal action to block the ban against that. i sat down for an interview with mike pompeo. he calls huawei an intimate of the chinese government. >> the threat of theft, not only commercial individual property but military technology is real and we are doing our best to prevent that from happening. maria: mike pompeo telling me he sees hope for china deal but we may or may not get one. and 165 points, s&p is down 16 and the nasdaq futures lower by 57 on top of the laws yesterday, the market was up early in the day but reversed course entirely and then some. down dusters are down 230 points. and the nasdaq is down 30 points. in europe, the selloff continues. the s&p down 90 points. the cac quarante and personal 93 points. the dax index in germany done 160 points. japan and korea the hardest hit. as you can see, ther

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they caught him at abercrombie and fitch stores. he was taken to the hospital for medical evaluation. a woman took a 4 or adaption. under surveillance video shows her walking around the store with the puppy and then just left on saturday. the pet store is offering $2500 for iris' safe return. >> someone that would take puppy returned alive. >> a man was put into the medical center. he went hiking with his church group. nbc reporter kate larsson explains how he got lost. >> reporter: an all out search in san jose for a missing hiker. a cal fire helicopter sent down and more than 40 firefighters, urban search and rescue crews and law enforcement officers went looking for the 59-year-old who got lost in the woods after breakfast with fellow church members. >> he remembered from when he was a kid, he wanted to take the trail and see this waterfall. >> reporter: so they went for a hike that took them off trail. david says he and victor fell behind and wandered on to private property looking for help for homeowners. ssg. reporte david sai

abercrombie & fitch having the worst day in two decades.ut it in perspective, markets at two-month lows, abercrombie two decade lows after first quarter sales missed mark. forecast for second quarter sales well below expectations. the apparel retailer popular with gen-x, gen-y, gen-z. slowing demand for hollister brand. down 26%. flip it over to the canada goose, ye of the parka. that is down 30%, gerri willis, wow! >> amazing stat down 29%. down 30%. canada goose, is getting cooked today. revenue growth slower than anticipated. and they're guiding lower. forecast lower sales growth the next three years. investors not patient with this. we'll sell it off. this is not the kind of market you want to a bad earnings report. they take you out and shoot you, ask questions later. eps estimates six sent sense a share. in a different kind of market maybe some of this would have been ignored. not today. broader market selling off, the dow down 236 points as traders here really considering a range of issues. everything from trade, which canada goose i

. >> abercrombie & fitch is closing more stores and that's where we begin tonight's market focus withel retailer lanning to shut three of its largest i stores andtead open smaller format looks. the company also reported weaker than expected same-store sales and it issoft guidance and shares plunged more than 26% to $18.39. capri, that company formerly known as michael korsbe reporte er than expected earnings and revenue and the retailer did trim its full-year sales forecasts thanks to costs linked to its $2 billion acquisition of versace. 35.06.ck fell 10% to canada goose that got plucked as the apparel company missed revenue expect acts and it exslower sales growth in the coming years and canada goose has been shifting its strategy in sales and it has sold its products through wholesalers and it' opening its own shops and today's news was not will received and it fell 30% to 33.89. >>> dick's sporting goods stored surpastreet expectations and beat revenue forecasts, as well. the company saw an incre their online sales and plans to invest in its digital platform for customers and it a

notable companies include abercrombie & fitch and companies which hold tommy hilfinger and calvin kleinocks fell yesterday led by losses in shares of utilities and health care companies. the dow dropped 237 points, the s&p 500 was down 23 points, and the nasdaq lost 29 points. >>> huawei is taking the next step in its legal case against the u.s. government. it filed what's known as a motion for summary judgment. it's a request that the court rule in huawei's law as a matter of law. they say buying the law is unconstitutional. essentially the company is saying this case presents questions about law and does not currently involve any dispute over facts. >>> meanwhile mackenzie bezos is promising to give at least half of her fortune to charity. the announcement comes just after she received more than $35 billion in her divorce from the world's richest man, amazon founder jeff bezos. the newly minted billionaire signed the giving pledge. it encourages them to give more than half of their money during their lifetime. or in their wills. the bill was launched by warren buffett and bill and mel

abercrombie and fitch is betting smaller is better is closing some of the flash of stores. it plans to renovate. amid the rise of e-commerce. a big gap coming off of the biggest sales decline in three years. they post results yesterday that did fall short of wall street expectations. it announced it was spinning off of old navy. in this the e-cigarette maker is considering opening its own stores right here in the u.s. they have come under pressure under the sweet and fruity flavors. they opened stores it would only admit for adults. something hard to police. let's take a look at what's going on. the selling started overnight. the asian markets. japan in particular. it's really going to feel this. the s&p is down 28 and a quarter. we are watching the markets also. a top democrats are looking to bring in robert mueller. they are still asking for him to testify and ready to issue a subpoena if necessary. could this be the political downfall for the democrats. >> great news for online shoppers. fedex is about to make your life a whole but -- a whole lot easier. thanks for watch

ten year treasury note yields fell to its lowest level since twenty seventeen shares of abercrombie fitch down nearly 25%. as the retailer one of the growing impact of trade tariffs. what america's largest economy is forecast to contract in the first quarter of this year for the first time since? twenty sixteen economists believe economic activity in brazil frank point 2% in that three month period. they've cut the growth outlook for thirteen straight weeks. it piles pressure on the far right president h his approvall ratings have slumped as the economy s spotters. and familieses suffer own gains for has the story. times are tough for many inin brazilil. elizabeth late to suzanne have family get by ron fink hundred us dollars a month and a little help from the government like ththis free milk. everything e expensive. salaries are low there's nothing left over and with prices increasing it's difffficult. it's good that i don't need to buy more milk. i took it t there for free i thk he alslso receives milk a at sco at the motorolola. nearly fifty fivivmillion brazilians live in poverty it's

also on wednesday, abercrombie and fitch will report earnings.th consumers than its namesake line. but investors will be paying close attention to any comments the company makes on supplies or pricing if washington‘s new proposed tariffs on chinese imports is implemented. joining us is laura foll, fund manager, global equity income at janus henderson investors. the ongoing trade war with indices across the world falling over the past 12 hours or so. interesting we have bright spots. china‘s rare earth producers have jumped. have bright spots. china‘s rare earth producers havejumped. and it ties into the same story? there is the odd bright spot but the indices almost across the board are down and this is about concerns over global growth. you recall trumpeting 25% ta riffs growth. you recall trumpeting 25% tariffs on some chinese exports which is filtering through and people worry economic growth will be slower than expected and that is hitting safer assets like government bond deals which are coming down. because of the tariffs coming on to certa

abercrombie & fitch, a favorite thatler of the teenage spooked wall street by slowing growth sales. some of these companies slashed their forecasts. they are seeing everything from tariffs to whether as a threat to the bottom line going forward. the other big movers. allergan was a big decline or on an implant recall. johnson & johnson facing the declines we signed health care. it nike again, the shoemakers, a tech company that was up -- weeks ago down in a big way. the oil which also took a big hit but recovered a bit toward the end of the day, in front of the later thursday supply data which is expected to show an toxpectedly big build minimize some of the losses we saw on this selloff and stocks and the multiple concerns about trade and a slowdown that are part of the package that this market is dealing with this week. >> thank you. ceo isup next, the optimistic about the u.s. china trade deal. she joins us for what to expect from the markets. robert mueller breaks his silence saying his probed it not clear president trump on extra -- obstruction. this is bloomberg. ♪ we're count

gap, abercrombie & fitch, and lieu li lulu lemon are delivering first quarter results. the second estimate of first quarter gdp comes on thursday. >>> german chancellor angela merkel said dark forces are finding mainstream support in her country and other parts of the world. there is work to be done to face up to them. merkel sat down with christian amanpour. one day after nationalists failed to live up to support in the european elections. after 13 years as chancellor, merkel has shouldered a lot of the blame for europe's populist wave because of the handling of the refugee crisis. >> what do you answer to the people who say it was a great germany but these dark demons have risen again. >> translator: germany will not uncouple itself from developments we see all over the world. we see this in germany as well, but in germany obviously they always have to be seen in a certain context, and the context of our past, which means we have to be that much more vigilant than others. >> recently, german jews were warned by a leading government official not to wear yamikas in publ

officers katz him between the holister and abercrombie stores.to the hospital for a medical evaluation a missing hiker was found alive after a hour's long search. he went hiking with his church group in san jose. he and two other men went off trail because he wanted to see a waterfall he remembered as a kid. two fell behind and wandered on to private property looking for help when homeowners accused him of trespassing. >> i have to get it done. i got scared. he went in his like h g done. seeing that kind of feared me. >> some of the hiker's friend. they were separated after running away. the friend made it out of the woods. then couldn't find him and reported him missing. you can see he's okay. he was spotted on home security footage about 5 miles from where he was hiking. officials say just stick to the trails if you can and is that i with your partner. >>> officials will discuss a report about possible rules and procedures. it will detail the police department's efforts to control side shows. the department says he needs 100 officers to respond

. >> the deal with abercrombie today? >> interesting one they are going through a number of changes and to give them credit actually grew in the u.s. 4% and international down 4%. a reversal of what we saw we yours. international was the strong point. lowered second quarter outlook, second quarter outlook and cap holdings same thing. a little disappointment for the immediate quarter we're looking at, but the full years don't look so bad but also not so great either for a lot of these companies. >> investors in an unforgiving mood. >> exactly. >> courtney, thanks very, very much courtney reagan. >>> this friday marks the official last day for cbo director keith hall and what a tenure it's been between debt and budget negotiationing, tax cuts, fiscal impact of paris, a lot to navigate. before leaving his post has agreed to talk to cnbc about all of it. standing by live in washington take it away >> thank you, kelly. thank you, keith, for joining us on your final days in office here start with the economic outlook and the im

officers caught him between holister and abercrombie stores.aken to the hospital for a medical evaluation. >>> a hiker is found alive. he went hiking yesterday with his church group at alan rock park in san jose. he and two other men went off the trail because he wanted to see a waterfall he remembered as a kid. two fell behind and wandered on to private property looking for help from homeowners who that they were trespassing. >> he got hysterical. he went in his house. like he was going to get it done. seeing that kind of referred me. >> that was the hiker's friend. they were separated after running away. his friend made it out of the woods and couldn't find him and reported him missing. you can see he is okay. he was spotted on home security footage about 5 miles from where ficio rem us to sti the trails and try to stay with your partner orgroup. >> abc 7 news, we are focusing on the issues that matter to you. a big concern is the number of potholes on our roads. today oakland mayor libby shaft will highlight what the city is doing to fix the

we get earnings today from abercrombie and fitch and dick's sporting goods. >> most americans, all theyng a job. that's still out there. we're looking at short-term things. the president's trying to make things good for the long term. that's the most important thing. lauren: finally, gus, the market is down today, down five weeks in a row. do you still consider this short-term? >> yes. in the short term, being five weeks, yes. if we're looking at co couple hl months, that's when companies make changes for the longer term. cheryl: looking at wall street this morning, we've actually got it looks like another selloff on our hands on this wednesday. the dow is down 172 right now. the s&p is down 19 and a quarter. nasdaq is down 67 and three quarters, 68 points. the trade concerns especially the u.s.-china war continuing to weigh and making investor as they were talking about. also, we continue to follow breaking news. another tornado touching down and heavy flooding has torn through several parts of the country. we'll take you live to arkansas where they're expecting the worst flooding in r

yesterday, day before yesterday, abercrombie & fitch got slammed.e've seen capri, the old michael kors get really slammed. the have and have-nots. i think that continuing to pick the stronger stocks on a little bit of pullbacks, doing shorting. i've been putting some of those spread plays on, buying some stronger retailers, shorting some of the others like tiffany's, we went into a short today. i think that is a kind of play we'll continue to see, haves versus have-nots. charles: great stuff. david, dr, thank you very much. we appreciate it. vice president mike pence holding a joint news conference with prime minister justin trudeau on the new nafta. the question are we really close to making usmca a reality? >>> from a trade war to a actual war, secretary of state mike pompeo telling maria bartiromo says america needs to make sure we avoid military conflict with china. more on that next. ♪ it's tough to quit smoking cold turkey. so chantix can help you quit slow turkey. along with support, chantix is proven to help you quit. with chantix you can ke

. >> i take the skirt off, i'm wearing those weird abercrombie & fitch underwear.: what do he this look like? >> they're little sad stripes, everything is sad and creepy this night. sad stripes, really covered too much. had a weird string on the side. it wasn't a great thing to be wearing when you knew your skirt was going to catch fire and take it off. but that's what i was wearing, so then that became my m.o. what i'm trying to say with this long, insane bar mitzvah story is that's gigi. and i was gigi when i was 13 and i just went downhill. >> jimmy: it's a good thing you went on fire and you wouldn't be able to do this role. your mom's carrie fisher, your dad runs one of the biggest talent agencies, caa. your house, i would imagine. >> very normal, what do you sneen. >> jimmy: were you aware it wasn't normal? >> no, like any other kid. i thought my parents were weird as hell and irritating and embarrassing, like any one does. >> jimmy: in what ways were they weird, irritating and embarrassing? >> you've met my mom, you know. the woman never wore a bra. so she w

cap free holdings, that's jimmy chu, michael koor ss, versace abercrombie & fitch. annihilated. they're not walmart, they're not target, they're not amazon doesn't matter these numbers. everyone wants to jump to the conclusion that the consumer is in terrible shape. that will only be reinforced by a must-watch interviewee have later tonight with manny tirico. he'll tell us about the dramatic earnings forecast cut he is giving us for the maker of tommy hilfiger, calvin klein brings me to the fifth sign that the selloff has gotten wild. when the economy is slowing investors hide in the consumer staple today goldman sachs downgraded general mills, the best performperfor performer in the group downgraded to a sell this company had mojo. general mills has transformed itself into more of a natural organic play yet it plunged more than 5%. the pain creates the impression that there's no place to hide except for, of course, beyond meat isn't beyond meat playing a guy began trick trick on us? it's just saying right in our faces that we're the -- i'm the only stock that can go higher? cra

i'm wearing the weird abercrombie & fitch underwear, i feel like you love those. >> jimmy: what do they't a great thing to be wearing when you knew your skirt was going to catch fire and take it off. but that's what i was wearing. and that became my m.o., what i'm saying with long insane bar mitzvah story, that's gigi. i was gigi at 13 and went downhill. >> jimmy: good thing you went on fire, maybe never would have been able to nail this role the way you did. >> exactly. >> jimmy: mom was carrie fisher, dad is brian lourd. everyone knows your mom but dad runs biggest talent agency probably, caa. so your house, i would imagine. >> very normal, what do you mean? >> jimmy: were you aware it wasn't normal? >> no. it just like any other kid. i just thought my parents were weird as hell and embarrassing, like anyone does. >> jimmy: in what ways. >> you met my mom, you know. woman never wore a bra. she would come to school -- >> jimmy: one of the things i like about her. >> me too, not when i was 13 though. now i'm really into the fact that she didn't wear a bra because i can relate. but at 13

>>abercrombie and fitch is switching its attention to smaller stores. the clothing retailer says it will open about 85 smaller stores that focused on quote brand experiences, the ws be reported lower than expected sales in stores, the company says it will also shut down its flagship stores in 3 cities overseas. as well as its hollister flagship store in new york city. says this fire was intentionally set the prosecution argues. now the latest evidence presented in the go ship warehouse trial as both sides try to answer how did that deadly fire start devastating tornadoes tearing through the central sections of the united states taking lives in leveling communities. >>and now they're popping up in unusual locations said as the weather gets warmer california is bracing for a wildfire season. it is expected to be long and dangerous the actions. the state is now taking to try to now taking to try to minimize the destruction. it's a revolution in sleep. the sleep number 360 smart bed is on sale now during our memorial day sale. it senses your movement, and a

goose had its worst trading day since going public in 2017 closing down just under 30% there and abercrombie fitch also down more than 26% and 26.47% at the close and capri holdings and dick's slumping coming up on "mad money" we'll hear more from "mad money" on cnbc last time he was on the show it was coming off of a positive earnings report and we'll see if has tune has changed and i'll send it back to you, brian >> that stock is down to a 30% discount to its historical valuation. what do we make of the pvh results as they relate to the retail, and investors have been crushed in pvh >> it shows you how fickle the buyers can be and how they bounce around and this is a company that's done a great job in terms of its digital and it's got to grow in their different categories and that's the problem. is it inexpensive? absolutely is it cheaper? >> 10.5 times before the close the single digit, yeah unless the guidance is even worse than we think it is, and close to $10 a share and i think at this point in time it's an absolute buy and it's not today when is the worst over for retail >> after a d

gap, abercrombie & fitch, costco, among the companies delivering first quarter results.ey reports for science of an economic slow down. we're going to get the second reading of first quarter gdp, released on thursday. >>> in the race for electric and self-driving cars, renault is considering a merger with fiat chrysler. it would be the third largest car maker and reshape the global auto industry, the latest example of how auto makers are looking to more partnerships as they face the pressure of a quickly changing industry. renault is a member of the biggest auto alliance with nissan and my sue b nissan mitt sh nissan mitsubishi. >>> the first shave is a memorab memorable moment. for transgender samson brown, he shared the experience with his father in an ad for gillette. the video shows brown standing in front of a bathroom mirror as his father coaches him. gillette shared the video with the caption whenever, wherever, however it happens, your first shave is special. it now has close to 1 million views. you know, gillette had another socially relevant ad earlier this yea

falling off across the entire spectrum old navy is losing to somebody else right now it is not abercrombie. maybe store brands, private labels >> and could just be an additional pain after that is when we're talking men's and boys' jeans are the biggest apparel import so 35% of those jeans here in the united states come from mexico we've reached out to gap inc. because we nomar ket share-wise, gap is one of the leaders with old navy for giants in general general -- for jeans in general to see how much of a hit that would be. so my gosh, just another hit to the business 21% currently all their goods manufactured in china. >> and let's talk amazon because they might get involved in prepaid wireless they might buy boost sprint is looking to unload it amazon would get to use t-mo's wireless network for at least six years after the deal according to sources they did it tthe hardware, but s would be a totally different play >> it would. and we don't know what amazon would use it for that being said, it is interesting because we've heard about how saturated the u.s. market was there is a big old

shares in abercrombie and finch are plunging by 15% after delivering a weaker than expected forecast.nny, back to you. >> jason brooks from kcbs radio, thank you. >>> 6:45 now. time for a look at what's coming up later on cbs this morning. gayle king joins us now. >> we are here, all in our places, live and in color. ahead on cbs this morning, record breaking tornadoes slam the central plains. they are getting hammered there. we are going to take a look at what's causing the extreme weather and where is it going next. >>> plus keeping the climbers safe on mount everest. it's a dangerous situation. an expedition leader joins us to discuss the recent deaths, the overcrowding and who is responsible for making the attempts safer. they got lots of issues there. >>> and here he is, one of polo's biggest stars and if you've got eyes you see he's one of the best looking stars too but in addition to that, he's also one of the nicest, good looking, nice and talented, check, check, check. that's good in the guy. we will see you at about 7:00, 14 minutes from now. >> he was going to mention he wa

gap, abercrombie & fitch, lululemon are among the companies delivering their quarterly report cards.new york, i'm christine romans. you should be mad at airports. excuse me, where is gate 87? you should be mad at non-seasoned travelers. and they took my toothpaste away. and you should be mad at people who take unnecessary risks. how dare you, he's my emotional support snake. but you're not mad, because you have e*trade, whose tech helps you understand the risk and reward potential on an options trade it's a paste. it's not liquid or a gel. and even explore what-if scenarios. where's gate 87? don't get mad. get e*trade and start trading today. ♪ ♪ ♪ ♪ ♪ ♪ applebee's new loaded fajitas. now that's eatin' good in the neighborhood. applelisten to your mom,jitas. knuckleheads. hand em over. hand what over? video games, whatever you got. let's go. you can watch videos of people playing video games in the morning. is that everything? i can see who's online. i'm gonna sweep the sofa fort. well, look what i found. take control of your wifi with xfinity xfi. let's roll! now that's simple, easy

i was talking about abercrombie & fitch, and they gave estimates.as coming down the line. did.ngton they make that adjustment. lisa: is anyone questioning the estimates they are coming up with here and saying things will be affected is way? it is not as simple as x number of tariffs will affect by y. people are not necessarily going to buy as much. dave: the thing with this company, inefficiencies can work to their advantage. another thing on the conference as ais you get disruptions result of everything on the tariff front. that means more opportunity for them to actually buy and then be able to resell using that off-price approach. this may turn out to be a plus for them rather than a negative as it has been for so many other companies or will be down the lifeless of scarlet dave wilson -- down the line. scarlet: dave wilson, thank you so much. he has given us another one to keep an eye out for the breaking news on facebook. the annual shareholders meeting is taking place right now, and mark zuckerberg speaking at it. he and sheryl sandberg were r

if you look at kohl's and pbh and abercrombie and the gap and you can go on down, you know, that list. >> isn't this a better time, though, to josh's point, to think about it in terms of companies, to think about it in terms of management who can navigate difficult weather, weather or climate, this is a great time to be trying to find companies that you want to hold for the longer term because you can become insulated during a period of recession, they can take opportunities during that time to strengthen their companies so they have appropriate balance sheets so i think it's even more important to think about the companies that you want to own longer term and take advantage of these, you know, whether it's weather or climate, you need to take advantage of these opportunities. >> what determines what your returns are, your point of entry. my point and this is exactly what you're trying to say, i think you get a much better point of zbroentry than you getw >> woer we're on a friday in the summer, traditionally not a great time to buy. we've got a guy in the president's office who is ac

first off, abercrombie and fitch, their sales fell short. they didn't give a rosy forecast. look at that, taken to the cleaner's. the stock down 18%. meanwhile, dick's sporting goods. i think that stock is up 2%. tell me why. susan: up as much as 6% in premarket. we call this an okay report card, not bad, shall we say, because dick's has been looking at falling sales and revenue and profit after they said they would stop selling guns after the parkland shooting last year. dick's, let's just say they have turned a corner. they have raised full year guidance. sales were flat, they didn't fall. that was important for the quarter. they forecast growing sales for the rest of this year and the stock is up 18% so far in 2019 but a recovery from a down, shall we say decline in the last 18 months or so. stuart: the key to retailers seems to be their outlook. susan: guidance very important. stuart: if it's not positive, down goes the stock. if it is positive, up goes the stock. seems like that's the way it is. susan: another theme is that dick's stopped selling guns but also have comp

in particular, abercrombie & fitch down a whopping 14%.ssus comp sales estimates, coming in light. david: 1% as opposed to 1.4%, and their losses were much less than what was estimated. alix: maybe that is going to be a tariff story. 's boosted their full-year earnings forecast of $3.40. this is bloomberg. ♪ viviana: this is "bloomberg daybreak." coming up later today, manny roman, pimco ceo, and dan ivins and come up him so -- dan iverson, pimco cio. ♪ viviana: this is "bloomberg daybreak." postingporting goods first-quarter earnings that beat estimates. expected them to fall. netflix threatening to leave the state of georgia if a new law threatening abortions takes place. the streaming video service produces several shows there, including "stranger things" and "ozark." huawei has gone to court to get off of that u.s. blacklist. sayshinese telecom maker it is unconstitutional, arguing it stigmatizes the company and its employees as tools of the chinese government. that is your bloomberg business flash. alix: thank you so much. we turn now

abercrombie down in a very big way. the teen retailer signaling slowing scales. canada goose is that company that has had these jackets that you see everywhere. -- their sales are slowing. capri holdings, the parent company of course also cutting the forecast. let's take a look at some of the others. nike, johnson & johnson, medical companies and health care down in a big way. momentum techt companies was almost double going into the last couple weeks, down in a big way as well. quickly to oil, this is something many investors are watching. it is tied to the u.s. trade with china. it came off its low in anticipation of thursday inventory data that is expected to show a surprise drop. keenan there, i don't that we saw a single grain number on any of those boards. ahead, our guest joins us as we talk fx near the end of what has been a tough month for emerging-market currencies. wells fargowe ask asset management co-ceo which names to watching in a volatile market. this is bloomberg. ♪ asia."his is "daybreak u.s. stocks fell to a 12 week low. bondersisting concern t

abercrombie & fitch and canada deuce missing sales -- canada goose missing sales for both.t retailers would be poised to benefit if there was any pinch on the consumer. that is not the case with burlington. they cut their full-year sales ceo --e, saying the saying, the ceo, that they are managing expenses. they will improve on the bottom line. no talk yet of tariffs with burlington, but not the case with dollar tree enter dollar general. ceo said the team has done a great job mitigating 25% tariffs, but a future tariffs are imposed, they expected to impact with their business and their customers. dollar general perhaps in a bit of a better position to wea ther the storm. barry: thank you so much. mike, let's take that retail story and go right into what you were discussing with wage increases. we've been hearing for a decade wages are lagging, not going up. the lower classes and middle classes are lacking that fuel to go out and spend on the retail side. now we are starting to see wages tick up. some have been minimum wage increases. others have been scarcity of workers. th

we have not talked about the gap and consumer >> do kohl's and abercrombi abercrombiabercrombie -- >>hat do you do right now as an investor? >> you can't you have to just sit >> you want to sell the stuff. tu you can reposition >> maybe that's why money market took it 100 billion. >> june is usually 401 k week. it is discouraging time. >> maybe we buy -- put some work in, i don't know i was thinking 550 share >> do you disclose where the cash flows are >> yes, i do >> where are you now >> 15. >> is that is high >> it is supposed to be invested i got my hands up and david it is not -- remember when we went to club met, hands up, gimme, gimme. >> sandals for you, partner. >> when we come back, a closer look at uber and as jim said we'll talk to peter navarro, white house's trade adviser as the president threatens mexico with these tariffs coming up at the 10:00 hour back in a moment welcome to seattle. where people are into coffee, tech, and retirement planning. the perfect retirement for me is doing the things that i want to do, not the things i have to do. unlike seattle, less than ha

legacy company of l brands, those founded by leslie wexner goes back to the limited they spun off abercrombieall of those telescoped out. limited and all the rest of it out of an express and all the rest so they've been known to do this >> wonder if there's a short squeeze. >> they're in a tough position >> it's been down about 40% over the last few months. >>> coming up, speaking of fashion, the footwear industry speaking out this week against trump's tariffs. we'll speak to the ceo of goat about the impact and why his company is looking to gain a foothold in china. thanks for the ride-along, captain! i've never been in one of these before, even though geico has been- ohhh. ooh ohh here we go, here we go. you got cut off there, what were you saying? oooo. oh no no. maybe that geico has been proudly serving the military for over 75 years? is that what you wanted to say? mhmmm. i have to say, you seemed a lot chattier on tv. geico. proudly serving the military for over 75 years. you ok back there, buddy? you mighyour joints...ng for your heart... or your digestion... so why wouldn't you take s

when the opening bell rang this morning, most retail stocks were lower, we heard from abercrombie, americanstrom, all disappointing investors with earnings and sales. that is part of the reason why there is a down day today, checking in on the numbers at the big board, the dow jones back down not a lot, 31 points, 25,095. certainly a different day from yesterday. the s&p 500 down slightly from yesterday. google is removing marijuana delivery apps from its place door. the band is taking effect in every state, regardless of legality. google says, the changes due to the amount of confusing the place door and to avoid problems processing payments for marijuana, which is still illegal. google suggesting pot delivery services use an app to promote their business but then take the actual sale and delivery process outside the apps. >>> tsa says travelers leave behind a lot of loose change at airport security checkpoints. last year, all of those dimes, quarters, pennies and nickels added up to nearly $1 million left behind. the unclaimed money usually deposited into a special fund and used to improv

they are building up inventory to get in front of the winter demand abercrombie shedding a quarter of its value a strong reaction to disappointing current quarter forecasts, even though the full-year guidance was reaffirmed, assuming only current tariff levels, though. an important note. back to you. >> courtney reagan, thanks >>> i thought the consumer was good, josh >> the consumer is great but not every story within consumer is monolithically good. and so, look, i think the example of goose is interesting. here is an example of where investors have to remember, there's the fundamentals but then also the expectations and so everyone understands the fundamentals have been strong. 25% growth, but if the expectations are for something closer to 30, you'll get a wreck when you have a very, very high valuation name that's an unproven name. it's only been public probably a year maybe a year and a half at most. that's what's happening there the jcpenney stuff is more disconcerting. it's in the graveyard. it's been for years. but that stock now at 80-some odd cents. people know what the nex

when i saw abercrombie & fitch and others in the last couple of weeks, just some other areas give me a lot of pause. i think there's more to go. i'm not sure how much. i do believe what we're seeing in the interest rate market is telling us we have a slowdown in economic growth going on the second quarter. i think we are probably going to be below 2%. i think the market's flushing it out right now. stuart: i want to talk about china trade. you know the billionaire hedge fund manager ray dallio says look, if china restricts these rare earth metal exports, that would be quote, a major escalation of the trade war. am i to conclude that everything in the world of money, whether it's stocks, bonds, interest rates, the global economy, the u.s. economy, everything is about the china trade situation? is that true? >> i think a lot of it is right now. i never thought i would have to mention the word uropium on a tv show but that's what's going on. keep in mind, we get 80% of our imports, rare metal imports from china and it's very tough to fill that gap from other places. so yeah, it's a worr

. >>> earnings out this morning from apparel retailer abercrombie & fitch.mp-store sales rose less than expected because of a slowed at their hollister brand. and that stock is off by 17% this morning. >>> bed bath & beyond has added four new independent directors, part of a settlement with an investment group pushing for change the housewares retailer is still looking for a new ceo. stock off about 1.1%. >>> vice president mike pence heads out of the country this week to push for a trade deal -- no, not a deal with china -- this is the still-pending united states/canada/mexico agreement kayla tausche joins us now with more. >> good morning, andrew. vice president mike pence will be meeting with canada's prime minister justin trudeau on thursday in ottawa to discuss the ratification of this new nafta deal, or what the u.s. calls the usmca. canada's moving toward passage of the deal, posting an official notice that could mean a bill to ratify it is introduced as soon as wednesday before that meeting. trudeau telling reporters yesterday that canada's going "to