take ascena.ely investors have been fleeing from the stock to the point where they're down 22% year to date, not to mention plunging 45% from its highs in late june. when they reported a couple weeks ago, earnings were mixed and it caused the stock to get hammered even though management maintained its four-year earnings guidance. with the stock down nearly 4% today, have i to remember if it is already reflecting more than enough negativity. the company just announced a monster $200 million buyback earlier this week. that's like 10% of the company. let's check in with david jaffe, the president and ceo of the asas ascena retail group. oh, i'm looking at this, these are the things i'd like to have when i'm cold. >> for ascena, we sell a lot of sweaters. this is supposed to be cold. it's been 50, 60 degrees. so no question that this category, cold weather gear, has been impacted. you're going to see a lot of great deals. with. >> when you talk about the idea that you said every year is more promotion

. >> for ascena, we sell a lot of sweaters. this is supposed to be cold. itit been 50, 60 degreeses so no question that this category, cold weather gear, has been impacted. you're going to see a lot of great deals. with. >> when you talk about the idea that you said every year is more promotional than i've ever seen than this one in particular, you're talking about a lot of the great bargains. >> i don't think anybody anticipated the weather woulbe this wararwhen they ordered sweaters six months ago. >> and it's around the country. >> everywhere. >> whether you're strip malls or inside, you're getting it. >> yup. >> we can focus on ascena, but bad as macy's, roughly the samam as kohl's, j.c penny is down from its high. there's something ing on here. is it besides weather? can you give us some of the bullets of what's happening in retail. >> one of the things we've seen in theheast year or two is t tt people when they felt comfortable, they started spending more money on things like electronics, on experiences, vacations, restaurants, as well as what i'll c

that's the ceo of ascena there.f talk about janet yellen giving a speak to the economic club of washington. the expectation is they'll be dovish on policy action. this is what everybody is passing around. she is a voter and fed governor, the new normal is likely to be characterized bay lower level of interest rates than in the decades preceding the crisis which counsels a cautious and gradual approach to adjusting monetary policy. the key word is cautious and gradual. that's one of the reasons we rose yesterday. numbers on the ism were poor, but there was a belief that it was going to be a very, very shallow glide path, to use an overused word, carl, for the fed going forward. we wanted to hear today not are they going to raise next week or on december 16th but what's the glide path going to look like. shallow is what everybody is looking for. carl? >> thank you, bob. perfect segue to get to rick santelli. >> hi, carl. there's so many things going on. the data points, as everybody has been talking about, you know, m