in the past five years, that denim trend has turned into an athleisure trend.s we come out of the pandemic, we are seeing the for year of the denim based trend that is baggy and pare back to totally different footwear. in the fall season, back to school a 15-25 female trend. she will not a things for the room in her closet and she probably has a lot of athleisure and beauty products. katie: i'm curious in your position, how closely do you pay attention to fashion trends and how to sign a form calls? adrienne: i have never felt those could sustain full-term but when you think about the top to bottom database we have turned over from the denim base bottom. we are in the uptick cycle for so these broad-based secular changes in fashion that we will make a call out. katie: fascinating, really enjoyed this conversation. i haven't worn denim in 15 years. adrienne yih thank you so much. we will have our social climbers segment. thus coming up next, this is bloomberg. ♪ for the world's forgotten poor. if you have ever wondered: "how can i, just one person, make a differ

ath athleisure, is that over is there a sea changing? >> we just launched our performance line this quarter, it's doing tremendously well i think consumers really love the technical fabric, and that aspect of athleisure, but then putting it into more cleaned up silh silhouettes. so it's an area that i think we can continue grow and develop. >> you're also very mall based i don't know if you can see that as a blessing, a curse, and simon has been an investor through all of this. >> we have 100 stores with simon. >> what does the mall presence look like in the years to come, is it status quo or should we expect big changes >> we want to continue to open more stores in malls we believe in brick and mortar the suiting is the foundation of the brooks brothers business and that process happens best live, right? our online penetration is relatively low but when you go to purchase a suit you want that store experience and you get that in our stores >> i'm looking back to see this company filed chapter 11 years past, sold for around $320 million.

mostly holding up so far so good that's good news for taylor made, the company taking a big swing at athleisure. but we begin with today's markets and dom chu with the numbers. >> it's wait and see and you might suspect on a fed rate decision we are seeing a mixed market, but it's fractional moves and not dramatically so one way or the other. dow outpacing the broader market, up 93 points 37,908 the s&p 500 down 16 points, about 1/3 of 1%. even at the highs, we were down a modest three points and 22 at the lows so a wait and see type trading rake the nasdaq, 66 points to the downside for the nasdaq composite. 15,591 here's the current state of play for the macro market as we head into the big rate announcement later on, the two-year note still above the 5% mark the ten-year note yield, 4.655% there. comex gold up to $2313 and bitcoin down below the $58,000 mark, down 4.5%. and then the big cap tech trade, very much about earnings and the s&p 500. amazon coming off a better than expected report. the forecast left a little to be desired. super and advanced micros, down 10% to 15% alphabet and met

is it -- what is the biggest problem there, is it athleisure sort of run its course and now it's goingbe more difficult for them, or do you think it's one of those other -- what is it that puts you so far below the street? >> look, it's very simple. the street thinks that lulu lemon is going to grow double digits into perpetuity. we think the u.s. business is going to turn negative next year for the first time ever. and why is that? well, number one, the athleisure category used to grow at a mid to high single dingit rate befoe covid. now, after covid, you have that covid hangover, if you will, and that's creating a slowing in the growth rate for the backdrop of the industry. in addition, you have companies like, as i said earlier, alo and viori, you're seeing it in terms of big cities. they're gaining market share, particularly alo in a big, fast manner. so, that's creating an additional headwind. i think what the street is missing is, they're not projecting u.s. sales to go negative next year. we are that's why we're massively below the street, and when you look at our numbers, we're

and i'm last on the trend here, but ladies are not wearing the athleisure anymore. wearing. >> you get a good gust of wind, you could be -- >> not quite long enough. >> i wore my jeans today too by the way. >> everyone is wearing this. >> what is with the wide silhouette that everyone is so hot for? >> it is the hlow rise baggy. i bought these today at hollister. this is what is in. and this is what is out. the jegging. the skinny jean. so we had an interesting experience today at the american dream mall. fran says low rise baggy is not in. and they only have it online. and jeggings, they are getting rid of them. >> and i have an entire closet of these. i used to be able to fitinto the skinny jeans. but you look at lululemon struggles. very interesting. >> so my wife just bought online jeans ripped to hell and wide. and wide like that. what is attraction here? >> it is the cut. this is the mom jean. this is the sis the style that want. >> but they don't do a ton for the silhouette. >> here is what is important. >> or maybe they do. >>s it not just about the bottom,

if you look at the pseudo/athleisure aspect of what kontoor is doing, just one challenger from gap storessized it yet this is where lulu does a good number i don't know if people care. i don't know geez, the multiple has shrunk there. >> yeah. >> it's shrunk, because everybody wants that business. pretty cheap, wow, i didn't know it was down that much. >> hasbro did get out of morgan stanley's top pick list, jim, along with progressive i wonder in the consumer front, toys >> well, chris cox has reinvented hasbro. he's done a lot of tough things to get things right there that needed to be done. i think that's one that i really do like of the -- of the -- you know, for a while, but the upgrades seem very positive and justifying >> meantime, nclh is leading the s&p. what are you going to talk about tonight? >> we know from endless data which it be from mastercard which put out a fantastic piece last week, this is still the best bargain people love to cruise. norwegian cruise has lagged the group. frank del rio used to run the company, no longer, harry som m mer, we had the viking idea. carni

lulu lemon, athleisure is over. target is also a name you're avoiding. are there retail stocks you would buy here, or no? >> let's face it, the retail numbers this morning, you look at kohl's. it's had a terrible morning, and that's unfortunate for those shareholders. but the whole space isn't doing as well as we would like. so there are some names i would avoid. lulu lemon has terrible risk management. it has negative industry trends, and i think they've had some market saturation. you're going to talk about that in the next hour, that's a perfect lead-in. fewer new stores, their expansion slowed down. so i would like elsewhere. and target seems to be struggling with their identity and focus and trying to get back on track. even their individual transaction amounts have declined. so those who are shopping are spending less. until the issues are addressed, i would like other areas. maybe a name is -- this is a company that is widespread, but i think it's a stronger play there for individuals who they were looking to ride out the summer. >> which name was

lulu's stock has been going down for ages, but could that be the consumer opting for cheaper athleisure? it could be. now listen up, there are suddenly buyer strikes all over the place. now all of this macro with the headlines, nvidia. when the third largest company on earth reported another good quarter, beating the quarter. the stock jumped in after hours trading, even better for individual investors. they announced a 10-for-1 stock split. and which will actually be one cent per share. the stock got a boost in after hours trading, but not by an insane amount. nvidia, well, it's in the habit of blowing away their numbers. and let's not forget that chemical healthcare electronics and water companies. it will split into three companies. it's a huge win now, the ceo for shareholders. tomorrow it will matter regardless of those meeting notes, and i will certainly fill everybody in this evening of who remembers the club about what it means. the bottom line for the part of the market that isn't tech or industrial for a part of the market that was consumer oriented. today is the day when the

the news raising concerns the athleisure brand is losing its edge.urrently lower i 7.8% almost 8% at this moment as during an otherwise quiet day for the market the s&p 500 unchanged everything could change at 4:00 p.m. after the bell when nvidia reports earnings. you have the salesforce ai ceo joining bloomberg technology next but that does it for bloomberg markets. i'm katie greifeld and this is bloomberg. ♪ so, what are you thinking? i'm thinking... (speaking to self) about our honeymoon. what about africa? safari? hot air balloon ride? swim with elephants? wait, can we afford a safari? great question. like everything, it takes a little planning. or, put the money towards a down-payment... ...on a ranch ...in montana ...with horses let's take a look at those scenarios. j.p. morgan wealth management has advisors in chase branches and tools, like wealth plan to keep you on track. when you're planning for it all... the answer is j.p. morgan wealth management. >> from the heart of her innovation, money and power collide in silicon valley and beyond. t

but, they say athleisure demand remains strong. can under armour turn things around?ll wait for little bit, and see how the strategy plays out. they do have initiatives, and strategies there were not. you just mentioned direct to consumer growth has been a high competitor since 2016. also, topline bottom-line growth. but, for now i'm watching the stock still for now. >> watching, waiting. what are you doing with the market more broadly? looks that were going to have a couple new highs today. s&p? nasdaq? >> we do have patients looking for the markets over. we see choppiness coming to the market. i've seen today's move, and i think it's a little bit based on obviously the data we got from cpi's investors. i like what investors from our standpoint, the healthcare department. he stretched in the evaluation. they are still pumping out cash. still returning to shareholders. so, we're looking at those opportunities to see if there's any pullback going forward. >> all right, 40 points short shy. and about 100 and change from 40,000. that's going to be back in the conversatio

they've got to have their under armour rewards getting into women's fashion athleisure, and i think theis and stop the revolving door of management. that has really, really hurt this company because every two years they have been ripping up and starting over. might have to start over here on the third time, but i think this one's going to stick, and i see that that could then drive future growth for the stock. >> that's under armour, and now for the bail of your opinion,which is starbucks. the ceo was ceo on three separate occasions with his final term from april of 2022 to march of 2023. the share is down 25% since he took over in september of last year. victoria, what do you not like about the starbucks trade? >> a lot. for me, you can bring in warren buffett to be ceo, and this company has structural problems. they're facing so much more competition, and it's so saturated. the coffee market has so many more quality kcompetitors. even if you think about it, starbucks was the end all be all. now you have dunkin who's focusing on coffee, and mcd mc mcdonald's, and you have other companies

. >> that's going to be cutting in, i think, to athleisure and i know you're not a denigrator of anybodythat's not your style at all but i will say one of the reasons i think the lululemon stock is coming down is what you bring to the party. >> our consumers like it and i think what's happening for us, we're hitting other channels and categories and that is how we've been successful and starting to operate better globally which has been important we've got a little time under our belt the pandemic is behind us a little bit i think you're starting to see what the company will look like post-pandemic and how it will operate post-pandemic. >> the analysts seem to be wondering what's going to happen to china i'm going to go there just because i know that i think your brand could resonate bigger than it has. >> we've done a nice job in china but we've hit a tough patch during the pandemic and coming out of that now, one of the most important things we have to do right now is refurbish our stores so we are making a capital investment right now as we speak in our stores 600 must stores in great

direct-to-consumer and the internet just knows where to go the classic look is back by the way, athleisuresus lulu, i don't want to -- i don't want to pile on lulu too much. >> let's get the opening bell here at the big board, property and casualty insurer bowhead specialty had an ipo today at the nasdaq, it is csx and blue star families, an organization supporting military families back to 5,340. dow, as we were mentioning earlier, lagging a bit here at the open >> yeah, i mean, look, the nasdaq, there's so many companies that are under the halo of jensen, and my problem with that, again, is that he's saying, look, we're the only way from a lot of the companies that are being bought out today and that's a mistake he's got to be very careful. you don't want to just buy, like, amd, they augmented the total size of the market my problem with that is that they are anti-amd. jensen would say, look, there's room for everybody, big tent, but you know, they don't want amd in there taking business they want all the business, because they are very aggressive guys >> driving a near-2% gain in info t

end of things, was once a darling, not just because of the pandemic, but because that higher end athleisurehe personal balance sheets to keep buying the higher end clothing what we learned back in march when they gave us a forecast for the year that came in below estimates what kind of effect it can have and down 41% over the year and a steep drop-off around march 21st, when the earnings report came out and they lowered their forecast it's been very much a tale of two consumers, but it's not just high end is good or bad, or the budget end is good, the budget end is bad that's where things get more confusing. >> a lot of ceo commentary we played there, if you're selling stuff or maybe restaurant meals, things seem like there's a very careful consumer and they're having a head wind travel seems like it's the outlier to the positiveside at least for now. >> yeah. the bookings data would show that the last comment you heard was from norwegian cruise lines when they talk about that robust kind of consumer, but they spend on experiences i guess you have to look at whether the experiences are trav

you know, they believe that athleisure is the best way of dressing.d then put this outfit on that maybe we don't consider to be glamorous, but they still think shows that they've made the effort. so i really think it's generational in part two. >> do you think i think that the older people dress pretty sharpish and love dressing up? i actually think it's the younger people who are getting a bit sloppy these days and aren't, aren't bothered about, you know, that kind of thing, or their fashion is kind of more sloppy fashion is kind of more sloppy fashion than our sort of more, but, you know, am i right? >> do you think , liz, do you >> do you think, liz, do you think that the proprietor of a restaurant, because we're talking here about gordon ramsay, do you think he has the right to impose? >> of course he does. of course it's his establishment. he has the right to impose. absolutely. he he does. >> do you agree with that, nikki? >> do you think a proprietor has the right to impose the dress code? >> yes, but i think it's a silly move because we're in