and the university becomes a nike school or a adidas school or under armour school concern the players who us a sentences by amateurs into human billboards, running around on the court in nationally sell sized games, head to tow in mikey insignias. it's a great deal for the companies. what these three companies operate on the grassroots basketball circuit, the youth basketball circuit. they operate as virtual crime families, throwing money around, doing all kinds of stuff -- excuse me -- >> that's okay. >> they operate as virtual crime families. they are throwing money all over the place, to influence people to wear their gear to influence kids to wear their gear. >> >>: last question, which is rick pitino now and what is his future? >> rick pitino is in exile in florida from college basketball, from basketball at large. he is king lear of the hoop circuit. he is angry, he is aggrieved. he is denying everything. he says, i told everybody under me to do the right thing, and they didn't do the right thing. and of course they know how much i care about the rules so when they breck the rul

and the corduroy pants and the worn out adidas sneakers only p.e. teacher is where yuck. but i like them right away because they had such outrageous song titles. and so i feel good in. will for a reason must never prevail i really like that i thought it was great. for the much michel. i appreciate their music a lot and i'm always very very curious about their lyrics. and especially the smart and exciting stories they tell. and. momentous and you can tell those are people who just do their own thing nothing to match you can see how much they love each other and i think it's a very homogenous band. has a new outlook and they're all so funny i mean really really funny. that's one that's tough to be able to leave your own musical market and to change the country's fashion all the entire way it looks i think that's something only the greatest achievement. will do. my hunch is now for some fairy tale inspiration the video for the song this boy is toko sex and then in chanted council with a single on the album tokyo trying to return to the german charts in

. >>> and later, we'll head back out to davos for a first on cnbc interview with the ceo of adidas stickund the "closing bell" will be right back after this break. alerts -- wouldn't you like one from the market when it might be time to buy or sell? with fidelity's real-time analytics, you'll get clear, actionable alerts about potential investment opportunities in real time. fidelity. open an account today. >>> welcome back to the "closing bell." we have 35 minutes left of trade. let's send it uptown to bertha coombs at the nasdaq for a look in the biggest decline of the major indexes? >> and basically seeing here is all of the large cap tech sectors dragging things lower. although bio tech looking at that, decliners. the large cap tech with exposure to china baidu trading on large volume. the search engine in china jd e-commerce platform and others with exposure there if you look at the gainers today they're bucking the trend. starbucks is higher despite the fact that it also has exposure to china and is looking for growth there el pollo loco seeing a high. but they're few and far betwe

so then other coaches hear about it, adidas hears about it, it becomes this arms race. and so, you know, by the time the mid '80s come around, some coaches are making $100,000 from this. they're getting, you know, paid more money from nike than they're getting paid by the school that's employing them, the state school that's employing them. then in 1986 the ncaa says, enough of this. administrators at these schools are furious that they're not getting their cut, so we'll change the rules so that you can make an exclusive, all-school deal. and this was, this was a huge kind of watershed moment in apparel retailing because this was pre-internet world. brick and mortar is still where it's at, and department or stores and specialty stores like foot locker are, you know, these fierce battlegrounds where adidas and nike and reebok and these other shoe companies are really fighting for wall space. so to get into a school in an exclusive deal is a big deal because it means that every student that walks into that college bookstore to buy their books, you know, they're walking pa

kind of competing with the likes of, and adidas -- of puma and adidas., because when they were open to all kinds of products after the fall, people were like why would i need these? carol: how did they come back? i am always curious. >> one of the three investors now was somewhere and noticed a friend of his wearing a pair. he recognized them because he grew up in east germany and was like, wait a second, those look familiar. he was intrigued, so he started looking into what had happened. so on and so forth. he decided he would do this, against the advice of some people. he found a cobbler who would work for the original company and he was like, you're crazy. all these brands of footwear and sneakers, they've always been competitive. >> we think of them as having been a big deal now, but it has always been competitive. people want the coolest, the latest, where is it coming from, whatever the cachet. -- cache. carol: from sneakers to killers nails, i have no better segue. tell us about killer snails. >> it is a company founded in boston by three women an

we will speak to a number of the top minds in business, including casper, the ceo of adidas. bill gates as well. of microsoft. and james quincey, the ceo of coca-cola. all that coming up live from the world economic forum, and shortly, i will be joined by others and we will discuss the trade war, brexit, and it will be a lot of guests today. manus: chockablock. let's see who you are going to help. we will be back with you shortly. let's put these markets in context. dollar-yen on the move. what is inflation? bank of japan slashing its outlook by .5%. you are seeing the dollar rise. you are seeing the yen. qe. twomarkets are dealing with juxtapositions. kudlow saying discussions. on the other side, the usa rejected china coming to do that. the oil market is a little bit better bid this morning. we took a spanking yesterday on the growth. productions will come. the market has started to respond positively, so that is riskrisks lori, your -- story, your commodities story, and your global growth story. just reflecting back on the asml numbers. they have been hit by 300 theyon eur

but also black leather, and of course they made a famous song called "my adidas."endary shoe throughout culture. >> you had oversized clothes, you had a lot of big chains, youed had gold teeth. all of that was kind of the excessive style. >> what you're trying to put forth and portray is confidence, strength, affluence. >> this look at first was mocked. but believe me, it was picked up by high fashion really early on. for chanel couture, the big gold chains, only now they were big double cs on them. >> it probably was the most influential style change in american fashion in that decade. bigelow goes became very important. >> y'all, this is fab five freddie, welcome back to your mtv raps. we're here hanging out in dapper dan's all-night boutique on 125th street in harlem. who are some of the celebrities that come up here to get their clothes made? >> ll cool j, the fat boys, salt-n-pepa, and of course eric b. and rock kim. >> danner dan is a new york legend. dapper dan early on tapped into black culture's fascination with labels. >> i' start playing with logos proba

i'm on my way to be global adidas statement collection launch. >> reporter: and wherever the 26-year-oldmillions of followers along for the ride. and now when the 40-time "vogue" cover girl isn't shooting international campaigns or hanging with taylor swift and their girl squad -- >> and we have amazing, brilliant ladies in every corner working on projects. >> reporter: she's working to empower young women by doing something that might surprise you. >> there are a lot of aspects to what you're going to build. >> reporter: she's teaching them to code. she founded code with klossy, a free two-week coding camp for teenage girls in 2015 after she discovered her own love of coding. >> i have this audience of young women across the country, around the world. i really care about the message that i'm sending them. i thought, you know what? i would love to offer them something more meaningful than just a picture backstage at a runway show. >> reporter: kloss got her start as a model at just 13 years old, discovered at a local charity fashion show in st. louis where she grew up. so how quickly did

you don't want to sign a yearlong contract at a new gym, for instance but places like adidas and nigh i can will be having sales and fitness equipment sales at places like walmart. they're having a golds gym sale. academy will be have equipment sales. >>> what about electronics >> i would say no. hold off on electronics. the biggest sales were black friday and cyber monday, but we can expect good sales in july. a lot of black friday in july coming up. another thing that if you really need it, i'd wait on mattresses because we'll see that on president's day but one little outlier will be tvs. so through the super bowl, which is february 7th this year, we'll see good deals i'm seeing already some sale activity, walmart, costco, sam's club it will continue to heat up through the month. if there's a specific model you have in mind, i would set a deal alert. you can do that and they'll let you know when the item goes on sale, but outside of tvs i would hold off on electronics in general. >> thank you. >> thank you. >> that is the show for today. i'm becky quick. thank you for joining us ne

the chief executive of sportswear giant adidas says that the impact of brexit on the european economympany's biggest concern. kasper rorsted told cnbc that it was often discussed as an isolated event, but it will actually have "very severe consequences in the long term". the company has seen falling sales in europe which makes up nearly a third of its total. staying with brexit fallout. sony is to move its european headquarters from the uk to the netherlands. the japanese company says it will help it avoids customs issues tied to britain's exit from the eu. sharanjit leyl is in singapore. this is pretty disappointing for britain, isn't it? sony not the first company to do this. what has it been saying? just the latest big name to say it's moving because of brexit. despite the move, sony is reassuring uk staff saying that it will not be shifting personnel from its existing uk operation and it is the latest japanese company to flag this move to the continent in response to brexit. its rival panasonic has already moved its headquarters to amsterdam mostly because of tax issues and japane

made by adidas, and i mentioned brent burns, this is his jersey for tomorrow night. skills competition tomorrow starts with red carpet at 4:00, then the game saturday at 5:00. live at civic auditorium, downtown san jose, colin resch, banews. >> if brent doesn't have his jersey, we know who has it. thanks colin. >> that's it for us.ou a 11:00, bye-bye. at at&t, we believe in access. the opportunity for everyone to explore a digital world. connecting with the things that matter most. and because nothing keeps us more connected than the internet, we've created access from at&t. california households with at least one resident who receives snap or ssi benefits may qualify for home internet at a discounted rate of $10 a month. no commitment, deposit, or installation fee. visit att.com/accessnow to learn more. ♪ ♪ with the chase mobile app, jason wu could pay practically anyone, at any bank, all while putting on a runway show for new york fashion week. ♪ ♪ he could. or, he could make it even easier - d seup recurring payments to his neighbor. for cat sitting. (meow) whoa.

but also black leather and they made a famous song called my adidas, the shell toe is in some ways thet hip hop culture. >> you had oversized clothes, but a lot of big chains and gold teeth. all of that was the kind of excessive style. >> what you're trying to put forth and portray is confidence, strength, affluence. >> this look first was mocked, but believe me, it was picked up by high fashion early on. they had the big gold chains, only now they were double c's on them. >> probably was the most influential style change in american fashion. big logos became very important. >> welcome back. we're here hanging out on 125th street. >> ll cool j, the fat boys. >> dapper dan is a new york legend. >> our thought plan was probably around mid-'84, '85. i had had to come up with something that was unique and real. i said a print on leather, which nobody else was doing. i think that would be a fete thomasal thing to do. >> the fabric, shom of the shapes ask it was underground. none of it was approved. >> he started making clothes that the companies themselves hadn't thought of doing yet. and h

adidas took ocean waste and turned it into a fabric, weaved into a traditional uniform. the nhl said it wanted to spotlight a major challenge in one of sports biggest moments. >>> we have more information on the davis shooting of an officer. >> that officer just graduated from the police academy in july and was sworn in with davis p.d. in august. we have live team coverage coming up at 4:00. >>> stocks have climbed back from earlier lows. dow is essentially flat right now. the s&p, though, is ever so slightly on the up side. set to close out its third straight week. >> slide up, slide down from the last few days here. and just kind of steady as it goes. >> thanks for watching, everybody. have a great rest of your afternoon. next newscast is the 4. be covered when it does... ...with a health plan through covered california. we offer free expert help choosing the best plan for you. and all of our plans include free preventive care. financial help is available, so check for yourself to see what savings you qualify for. the last day to sign up is january 15th, so don't miss

and kind of competing with the puma and adidas, that is what was available to east germans with the zehaind of went away because of them it was open to all kinds of products after the fall of the wall, people were like, why do i need this. but they were cool and well made. and -- carol: how did they come back? i am always curious about a brand. dimitra: one of the three investors in the business now was somewhere and noticed a somebody, a friend of his, wearing a pair and he recognized them because he grew up in east germany and was like, wait a second. those look kind of familiar. he was intrigued, so he started looking into what had happened, where there are still a factory and so on and so forth. he decided, i'm going to do this. he, against the advice of some people, he found the cobbler who had worked for the original company, and the cobbler was like, you are crazy. what are you thinking about doing here? there are all these brands of footwear and sneakers have always been competitive. we think of sneakers as being a big deal now, but sneakers are always something that i've been be

adidas took the ocean waste and weaved it into a traditional uniform. nfl wanted to spot line a major environmental challenge in one of the sport's biggest moments. all star activities begin in 2 weeks in san jose. >>> the san jose sharks are one of the hottest teams in hockey, and they beat the golden knights in las vegas. >> burns, loads up, fires, and they score! the milkman! >> yep, san jose tieing it up in the middle of the 3rd period. less than 40 seconds later, they took the lead and never let it go. the sharks, it was their 1,000th victory, and they won 3- 2, and they also move into 2nd place in the pacific division. >>> we may see athletes representing the vatican, competing in the olympics. the vatican launched an official track team with about 60 runners, including swiss guards, priests, and even nuns. the vatican signed an agreement with the italian olympic committee, andst now part of the italian track are -- and it's now part of the italian track association. they are hoping to compete in other games including the mediterranean games. >>>

the adidas and the nike. and guess what, you can't. you can't. >> what do you mean?e quality. you can't compare the fit. i've got a very athletic fit you could buy champion >> one of them is 50 bucks, one is 100 bucks >> right but my point is lulu a growing faster so it deserves the premium to nike. but i wouldn't buy here because 44 times current year earnings it's not grown 50% nike i'm also skeptical. solid hold, i just don't think it's going to run away from you. >> evelyn in baltimore has a question for you, joseph chipotle how about it >> chipotle, i'm long. staying long absolutely staying long like the digital turnaround. like the total transformation that this company is experiencing reporting strong earnings. >> all right thank you. >>> final trades straight ahead. (indistinguishable muttering) that was awful. why are you so good at this? had a coach in high school. really helped me up my game. i had a coach. math. ooh. so, why don't traders have coaches? who says they don't? coach mcadoo! you know, at td ameritrade, we offer free access to coaches and a ful

. >> we will speak to a number of the top names in business including the ceo of adidas, bill gates, the founder of microsoft, and the ceo of coca-cola. all of that coming live from the world economic forum. shortly i will be joined by the iea executive director. we will talk about opec. we will also be discussing our question of the day. where are the biggest investment opportunities this year? thanks very much for that. a real important slate of guests. always great to hear from bill gates. we will take a look at what is going on in the markets. usures are not helping divine any real direction. we do see red arrows across the board. we have seen futures a little bit better just a half-hour ago. maybe they are getting worse into the open. we also have treasuries that look like investors were letting go of 10 year paper. we definitely see that in the end selling off against the dollar. maybe it's not quite as risk off as this futures picture might show you. what do you see on the gmm? anna: it is interesting you talk about risk off. a lot of appetite for emerging-market currencies. t

in terms of everything going on online but i think just the comments we heard earlier today from adidas and the report we got last month from nike, even if china is slowing, the chinese consumer isn't not buying everything, they're by fur kaifurcatinbifur. there are great companies with great management that can still benefit from a growing class including china even with its slowing. so there are parts of the consumer we do like, absolutely. >> my quick question back to you would be consumer optimism, all that is is an overlay of the s&p 500 and dow jones in broader terms. people see the market go higher, they feel better they feel better, they spend money. if we have another leg down in the stock market, would they pull back if you see another leg down and become a self-fulfilling prophecy >> i don't disagree with what you're saying although i think the part of the u.s. population that owns the stocks and watches the s&p every day is a smaller proportion of the economy than the whole u.s. economy, right? but the high beta consumer, if you will, is going to drive the market more. peopl

coca-cola, adidas, and volkswagen will be joining us.mberg. ♪ this is bloomberg. ♪ anna: welcome back to the european market open. 43 minutes into your trading day, a positive session, up to 9% on the stoxx 600 on trade optimism. theresa may has refused to budge on her red lines on brexit, putting her in a stalemate with opposition leader jeremy corbyn, once the government to rule out a note yield exit. matt: it limits your options when she heads to brussels to seek assurances with the eu. let's discuss with the chairman of the european parliament committee on foreign affairs. he joins us on the phone from brussels. you if there is anything other than remaining in the customs union theresa may could offer the eu in order to get a better deal than she had before? >> look, i hear all the time redline from the united kingdom. to hear what they really want. they are divided in the government, the governing party, the opposition. they have not talked between each other, the government and the opposition until now. after this terrible defeat,

ceo of adidas, also get his take on the global economy. and much more.t getting started here in davos, guys. >> all right, yeah always interesting to hear from oven he's fashioned himself sort of as the anti-activist of late not quite following in any way the same playbook as the people we tend to lump him in with. >> in fact, he directly criticized them, david he said, we went after with no uncertain terms the media driven campaigns that the activist funds are managing for the short-term thinking to boost short-term shareholder returns and pointed to his deal with citigroup, which as you know, gives them access to information through december, backing management, as examples of value acts sort of longer term perspective and trying to get companies to do better he's actually very focused in the new spring fund on that very point. one of his big positions, aes, he likes to say, done incredibly well, 50% over the last year has changed its focus from coal power plants to almost 100% renewables or that's their goal. that's the general thinking and how he fra

adidas took the ocean trash and turned it into a fabric, weaving it into the traditional uniform. they wanted to spotlight an environmental challenge in one of the biggest sports moments. >>> kevin durant has dropped out of the starting lineup in the most recent round of all star voting. lebron james has the most votes, and luka doncic passed steph curry for second, followed by derrick rose and paul george. durant would not be a starter if the trend continues, but you can turn it around. votes count double today, and you can vote up to ten times each day. >> get kevin durant in there. >>> now to sal, our all star. how does the commute look? >> looking very good right now, and things are improving on one of the busiest commutes in the bay area, the bay bridge. traffic is moving well. forget about what i told you coming out on the oakland side. you may see wet weather. not wet weather, wet roads, and that's because of the surrounding hill draining the water, and it does that right to the freeway, unfortunately, and sometimes there's crashes, and this is a look at the commute, and it

how about this one how about the fact that nike downgrade adidas why starbucks reports.t's going to have a good china. there you know, we just need apple. >> you're saying good china, bad china. what are you doing here? >> don't chinatown me on this. this is an ta antipathy >> it's only 2% of the market. it's not really key for microsoft. it's interesting. >> i think it's going to happen. every time i get too negative, the reporting i do says will you stop it. then when you get too positive, they say will you stop it. whatever i say i've got to stop. >> jim mentioned the chips they are a source of strength today along with the airlines. southwest comes out, 117 beats by a dime. revenue is ahead southwest issued some upbeat guidance for the year. we will talk to gary kelly later on this hour about the shutdown, about load factor, about the memorial. >> they had a terrible accident early last year. you didn't know how long it would take to recover. these numbers indicate they're recovered. they're playing offense again. they're doing this hawaii run, which i think sis impo

they'll so told bloomberg in davos that digital is changing the sneaker industry and adidas plans toand by next year. tom: thank you, so much. ways toany number of get your dose of international relations on foreign policy. one of the most abrupt and concise is foreign policy magazine. it is energetic about putting on message the different debates out there. jonathan tepperman joins us now. congratulations. davos rag, but it has a beautiful energy. about the end of economics. the end of foreign policy with the chaos out there? jonathan: i don't think so. it is a bizarre time for analyst.olicy the traditional playbook does not work anymore. in the old days there is a template for writing a foreign-policy article. what should be done, then what the administration is likely to do, and there is a close alignment. now you have an administration that rejects experts, advice, and is unpredictable. the template on how to write a foreign-policy article has changed. you talk about what should happen, then what on earth -- francine: is actually happening. jonathan: exactly. it is hard to reconc

morgan stanley saying this competitiveness is going to be weighing on adidas.at the market is really underestimating how much competition is coming in. matt: thanks very much. "bloomberg surveillance" continues in the next hour. we will speak to the biggest names in banking, including morgan stanley, goldman sachs and ubs. this is bloomberg. ♪ francine: the state of the union shutdown. president trump says he will deliver of address to congress when the government is fully reopen. this just hours after speaker pelosi blocks him from giving the speech in the house chamber while agencies remain closed. chairman resigned as and chief executive of renault. germany says the eu needs clarity from britain. good morning, everyone. this is "bloomberg surveillance." tom and francine in davos. we have gone to so many panels, it actually feels like they 25 and yet there is still uncertainty in the corridors. tom: i want to congratulate you on the important panel in oceans. people are riveted to your oceans debate. the most important person to .eet in davos today euro could