abercrombie deserves everything that comes at them. you where they are close but would not give you a discount to buy them. it's a horrible story. in 2,003 the worst to because they were discriminating. if you are ugly, you have to work in the back. we were called floor models. the store is horrible and the clothes are not what they need to be. all that being said, here's the deal. i have no attraction to the models of days of old. where i'm from, we let go full figured gal. that's normal. so bring out normal. just be normal people of normal size. you don't have to have a washboard stomach or have an extra 500 pounds. there is somewhere in between. i come from a family, i am around and then some. my uncle jeff would sit down with a bull that you mix cake sin. he would have a box of cereal and a gallon of milk and whichever one ran out first was when he quit eating breakfast. it's finally here because it's true. i love my uncle jeff. i am the smallest guy and i get made fun of for being too little and my family. there is a limit to what

abercrombie and fitch, burlington stores both in the red.cline joining us today on the news line is dana telsey. dana, it's great to talk to you. one point that you've made is that even after all of these prints and all of the comments about inventory and the lower end of the consumer bound, the market was prepped for it in a sense. >> exactly, carl thank you for having me. nice to see you. so yes, i think overall when we're taking a look at these resets that are going on, it's been six months that we've been hearing about what the catalyst could be and whether it's inflation, the high cost of living for the lower income consumer, we're seeing a bifurcation from the high ending and low end. what's happened is that the reset in stock prices anticipated what the reset in earnings was going to be so they have anticipated the stock price is already down and now they're looking to '23 and '24. >> now that we're looking ahead, we're in the midst of back to school if we're looking for a clone holiday, which areas of retail will we look to first? >>

some of the big losers, weakness for consumers paid abercrombie & fitch is higher up 2.2% before it wasg. they did not miss but they cut the sales guide and the management team talking about the uncertainty around the consumer. earlier it a been down shortly as well. they brought in their view for profits talking about cutting prices and investment in prices. still down sharp, both of these companies missed. burlington, still so much uncertainty around consumer spending, having a lot to do with all the inflation talks. guy: absolutely. the labor market remains strong. abigail, thank you. let's talk about what's happening in the macro picture, talk about what's going on a jackson hole. the symposium kicks off today in wyoming. the host of the retreat is the kansas city fed president. he sat down earlier with bloomberg that the fed needs to raise rates with -- so demand can slow. >> what's the danger of recession that you see and what would you see it in in terms of indications that we are slipping in a contraction? >> when i go around my region i do not hear many signs of that from our c

on the other hand, it was a rougher week for american r retail nordstrom and abercrombie and advancedparts falling. >>> we will get back to that, but let's check on the other key headlines you need to know on friday for those, we have frank holland back >> we begin with williams-sonoma heading to the metaverse speaking with jim cramer the plan involves roblox which is popular with young kids it comes one day after williams-sonoma released better second quarter earnings. >>> the e. coli outbreak in the midwest is severe. 47 people became sick this week and 37 hospitalized. wendy's is cooperating with the investigation and is pulling romaine lettuce used as a precaution. >>> and starlink is teaming up with t-mobile to end dead zones. speaking in texas, the t-mobile ceo will dedicate the mid band spectrum to be integrated in the starlink satellites launched next year. brian, i have no idea what pcs band is. anything that ends the dead zones is welcome i know you are in an undisclosed location in my house, i have five dead spots. >> in my bunker here, it is not too bad. i will say i manag

potentially pressuring consumers' psyche and disk discretionary spending and names are getting hard abercrombie off more than 5%. home furnishing stocks these are really selling off >> we know wayfair shares are volatile and those are down 8% even williams-sonoma which they reported another very strong quarter and reiterated guidance and that's getting thrown out, too, baby out with the bathwater. underarmour, lululemon, dick's sporting goods we had a strong quarter out of dick's sporting goods and the high-end consumer has been the one holding up for a lot of these companies and today, though, the stocks are breaking. canada goose, tapestry, down more than 3% canada goose down more than 4% while there's safety in the discount space during recessionary times not today. look at 5 below, dollar tree, burlington off 3% and somewhere above 4% down. one area of retail that has been holding up in general and share performance is beauty and the economic trove about the lipstick indicator has held true you know the one where lipstick is a small luxury even when times are tough. >> they solidified the b

and i remember you would be to the mall with your friend, and they would go into abercrombie and fichl movie. the woman i'm working with goes to the checkout lady and says i'm buying these clothes if the actor doesn't wear all of them can i return some? the woman behind the counter said-- i'm not making this up-- "who is the actor you're buying for?" and the woman said, "i can't tell you." i'm not making this up. from behind the counter, a laminated copy of the interview, where i had slagged off the shop, and she held it up and said, "is it him?" and the costume lady, "yeah." "we don't sell to him," and she slammed it on the table. it was unbelievable. >> stephen: wow! >> unbelievable. i felt like i was on some kind of register. >> stephen: wow. >> thankfully the shop went out of business in the end. here we are. >> stephen: there you go. so you're on now season two. >> yeah. >> stephen: of "the outlaws." returns next week. you're a co-creator. tell the people who haven't seen it what is it about? >> it's a show about seven people who have committed various types of crimes and they're

more momentum names like zoom and moderna under pressure today the retail sector is the standout abercrombie, kohl's, american eagle all gaining, look at this, almost 10 to 15% the retail etf, the xrt having its best month since january of last year. and of course we have to mention bed, bath, and beyond up 71% now today. this is an $11 move to $27 a share, brings its month to date move to almost 450%, so a more than quintupling tie as media holds strong in at least this name right now. >> thank you let's talk about market domination even if you don't own apple or microsoft, they're two stocks you can't afford to ignore never before have two companies had so much influence in the direction of the market, of the s&p 500. let's start with the fact that they are both part of the dow, the nasdaq, and the s&p. apple now makes up 7.3% of the market value of the s&p. microsoft about 6%, so if you're a passive investor, an indexer, 13 of every $100 you put in to that s&p 500 fund goes into these two stocks for more on what all this means for the markets future is todd sewn, technical strategist at a

abercrombie and fitch, victoria's secret, macy's, some of the names sinking lower. softening demand for consumer electronics. the expectations are coming down for best buy and many of its peers. what is ahead for retail? bonawyn, is the bar low enough for best buy? we have competitors like walmart and target, at least as a category. they warned us it wasn't going to be good. can we have more downside surprise here? >> listen. i know you don't want me to be negative. i can give you a short or a long answer. >> whatever answer feels right to you. >> verrone touched upon it when he talked about xrt versus srp. we talked about walmart and target struggling, and the parallel with technology type of sector, electronic type of sector. it is not going to be different for best buy here. to your point, i do think cinema is so bad that typically, there is always the option for the contra trade, but i don't think this is the proper set up. i think there is more pain ahead and what they have tried to do is dampening the blow by getting in front and letting you know and guiding l

joining me today is perdita johnson abercrombie, our director of the eastern region of the office of management, diversity and inclusion. we appreciate this opportunity to convey the commitment v.a. secretary dennis mcdonagh has to achieving an inclusive environment to every veteran and our world-class workforce. v.a. thank you for your partnership and commitment to our veterans. we thank you for the deborah sampson act. this legislation served as the catalyst for v.a. to increase efforts to prevent and respond to sexual harassment and assault. we are pleased to discuss our tremendous progress since passage of the act and how v.a. is going above and beyond implement this law. secretary mcdonough issued a zero-tolerance policy for sexual assault and harassment. this means we expect and work to manage an organization free of such incidents. we believe that just reacting to sexual harassment and assault is not enough and that we must achieve and sustain the cultural health of v.a. to prevent sexual-harassment and assault. today, you will hear us describe our efforts to do just that. v.a

right now if you had pinterest and it had something about italian villas, you would have to go to abercrombier rent savanna if you want to rent and you can't go to pinterest. >> and i want to talk about a name once among the growth companies and then went public. it is below 10 and it had already been down sharply during the month. not enough to reflect the good numbers that would be accepted by the marke . for the third quarter, palantir expects revenue of $475 million. that is up $55 million. and the revenue numbers of $1.9 billion for the year. income from operations up from $41 million-$43 million is not what the market and investors had been hoping. not a lot here. we have had to call but i don't have a lot to share from it. >> and i think what we heard a while ago, this is another thing you did not think that technology should be hurt by. technology was seemingly immune from other parts that are hurt the economy. in other words, totally secular growth. the slowing dollar should not matter and the fed should not matter, but they are coming into play. even though i want to be bullish, the

. >>> seema, thank you very much >>> a nice turnaround with abercrombie, with a miss on the bottom andthey do raise the guide a bit. we're back in a moment ♪ ♪ wow, we're crunching tons of polygons here! what's going on? where's regina? hi, i'm ladonna. i invest in invesco qqq, a fund that gives me access to the nasdaq-100 innovations, like real time cgi. okay... yeah... oh. don't worry i got it! become an agent of innovation with invesco qqq >>> we need to get to a restrictive stance by the end of the year, and then we need to let things play out. we talk about long and variable lags, and we actually have to believe it. >> that was patrick harker talking about rate hikes a moment ago with our steve lie liesman. one threat we came up with is trying to convince the market that 50 is not child's play. do you agree >> yeah, i do. i took a lot of solace in what president harker set we've got to see what this does to the economy it takes time before the rate hikes translate into economic that seems like a good script to me. how do we have those kinds of reports, yell esther george says supp

same thing you heard at abercrombie & fitch as well.a surprise loss when wall street expected them to make some money at least in three months. they're reporting lore than expected sales and, as a result, not surprising, they're not going to have as good a year as anticipated, and they're blaming higher prices, also consumers as a result are not spending as much. and then i want to show you dollar general and the discounters. here's the countertrade here. it was up in the premarket, now they're down. came out with better results, same-store sales higher than anticipated, and they're boosting their share buyback by $2 billion. and dollar tree had a fantastic quarter as well. but they're cutting their full-year earnings outlook because of pricing investments and pricing-related investments at family dollar stores. ashley: okay. if by the way, nvidia reported after of the bell yesterday. tough report. the stock down 1.5% -- susan: actually, it was down 5, 6%, so you're down 1.33, not as bad. gaming chip sales are still going to be lower ac

had been higher in the premarket but dipped negative after rival dollar tree cut its forecast and abercrombie cut its full-year sales forecast citing the impact of inflation. >>> up next we do have breaking economic news. we've got jobless claims and gdp. we'll break it all down for you. >>> in the meantime, take a look at what's been happening in the treasury market. the ten-year up above 3.1%, 3.108% and treasury yields have been moving higher all week, probably in anticipation of what we're going to hear from fed chief j. powell tomorrow in jackson hole. the rhetoric has been strong and hawkish. we'll hear a lot more of it today from jackson hole. stay tuned you're watching "squawk box," and this is cnbc this is xfinity rewards. our way of showing our appreciation. with rewards of all shapes and sizes. [ cheers ] are we actually going? yes!! and once in a lifetime moments. two tickets to nascar! yes! find rewards like these and so many more in the xfinity app. as a business owner, your bottom line is always top of mind. so start saving by switching to the mobile service designed for small