i used to shop at abercrombie & fitch. this was your father's abercrombie & fitch. was one on 5th avenue. and i'd go there once or twice a year. it was a preppy kind of store for want of a better term. >> -- a big brought iron lamp with grizzly wears and a armchair. nothing like the brand today. >> so i walked into the store one day expecting to buy more polo shirts and khakis and. and i didn't recognize. i had to go back outside and look at the name. they changed just like that. and i suspect that is what lands end is having. and they should think about what's happened to abercrombie & fitch. >> and abercrombie & fitch changed from what you are talking about and now have changed in a different way. they are getting away are the logos. they have introduced black. so, you know, change is necessary to some extent but lands end is a company that's been around for a long time and everyone sort of knows what that brand stands for. repositioning a brand is no small feat. certainly something needs to be done because the financials have been cairo but i wonder if this is is

>> is it because in your view both in britain and united states is that the american people and abercrombie and fitch people are fed one what the politicians are telling them. fed up with the recession. fed up with the falling apart and tax system. is this another way to say enough and we want to move on and we are sick and tired of the so-called politician elites telling us what's good for us? >> sean spicer has this great chart that just has the word enough. and the h at the end of it is hillary's h but with a downward arrow. enough of being told that orlando was not about terrorism. enough of being told that we have to pretend terrible schools have to be protected because the teacher's union wants them. enough of being told that we have to allow in thousands and thousands of additional syrian refugees about whom we know nothing and cannot possibly vet. go down the list of all the things we are told. look at the washington metro after billions of dollars. it's a disaster. how many things have to fail for the average american to finally decide the bureaucracy and the establishment can't de

done well, up 14 and 12% each over the last 80 days and worst retail stocks, conn's and abercrombie &itch and fran kresa holdings. cohn has lost half of its value. retail seems to be changing. genius. >> master of the obvious. >> genius insight by sullivan. >> all right. it's just after 2:00 p.m. on wall street. stocks are losing steam this hour. the dow jones industrial average is down triple digits at this point. the s&p and nasdaq are weaker as well. dow off 115 points and the s&p lower by 12 and the nasdaq lower by 28 points. what are the biggest threats to the u.s. economy? steve liesman knows because he is here with the exclusive results from the cnbc fed survey. steve. >> thanks, michelle. at least i know what the respondents to the fed survey know. outlook for growth, came down pretty dramatically with the weak first quarter and had that built back up a little bit and then it came back down. we're now hovering in the boring and per pet pull. 2.3%, 2.1% for the next year, the range we've been in for a very long time post-recession period. the next is the probability of recessio

trying to advertise some old -- my old abercrombie & fitch ones i can't have in the house. of j. crew ones. my wife is definitive on the no cargo shorts rule. that's the thing. >> so you buy a pair, you smuggle them home, one day have them on, she may not notice. >> the unfair part is the boys are allowed to have him. they look cuter in them. >> you don't want to take a stand here. this is not important enough. >> you have to pick your battles. and looking back, you have to pick your battles. >> you are totally rallying him up. you would aim just as quickly. >> i just want to know if we are ditching ties for tomorrow's show. >> i don't mind wearing a tie. >> but we're going to have jamie dimon and the jpmorgan crew very techy. >> if you don't wear a tie, then you have to put your mike on your jacket. it doesn't look as good. tmp >>> we'll look at the brexit, the latest poll shows the leave in the lead. the remain side is leading by three points. either way, the momentum has swung to the leave camp despite several outsiders including jamie dimon and president obama highlight

. >> i think the last ones to get e-mail, but you know we have a secular retail, abercrombie & fitch,end declaring bankruptcy. >> it is interesting that nobody is shopping at the mall that is one of the issues, malls have not worked. >>. dagen: what happened with key trail retailer. >> the investors and the owners of businesses have lost track of that, about the last ones to know shopping habits changed, they are not reacting in kind just like, you know, looking around wondering where customers sfwheent where did they go. >> 51% according to survey if you are goods online exactly what you have been saying the first time in survey five year hitter that online shopping surpassed store shopping. >> you are expecting this is exactly what is happening what is the impact? >> the impact if you look at mastercard data all real-time data cash and credit, and my spending shoots up between 10 -- and -- put kids to bed shopping we shop all the time on phones now, we don't need to go we don't come to you you need to come to us. >> a by these time 10:00 at night to midnight. >> -- not millennials r