he ran the incredibly successful bloomingdale's division. after they reached a detente with the activist fund that reached up with some other friends for a takeover bid/proxy fight with macy's that was very confusing. they did get two board seats in april but that was very important. who wants to buy the company? the last bid was $24 per share in march. they cast doubt on the ability for financing levels. with all that going on, it felt like a make or break quarter for the new management team and they definitely made it. sales declined by 1.2%. wall street was looking for down by 4.3%. bloomingdale's was up by .8%. blue mercury, a cosmetic business was up 4.3%. macy's came in with administrative expensive slightly offset. what they made after subtracting the cost, that translated to an impressive earnings bit of $0.27 per shar . that is why the stock really popped. macy's gave very encouraging guidance for the quarter and slightly raise the full-year forecast for nearly every line. when you read through there are a couple of key highlights.

we learned last week bloomingdale's is doing great.s. it's not new. let me tell you about the very rich they are different from you and me. one of my favorite lines from a great book in 1926, the rich really are different but the difference between 1926 and now is that there are more rich people these days for a variety of reasons. their spending habits don't have a lot in common from the past. they are going for the $90 hamburger or the $5 discovery box, there is a routine. the rich aren't interested in do-it-yourself home renovation. they may not know it diy stands for because they would let a contractor do it. they won't sacrifice the house that they bought for cash or 3% mortgage to get a new home with a 10% mortgage it if they've got enough cash to buy it outright they will be willing to get into a hitting war for their home. their home base, they throughout the whole discussion because they don't seem to mind paying up for something that did not miss the ball. we are wasting our time trying to figure out the consumers desire to s

bloomingdale's is doing well.umer has been using tax increases on a weekly basis at the gas pump. gasoline is moving higher. you are going into driving season. maybe at the margin with this drumbeat of weaker consumer confidence, maybe it's harder to end the extra dollar. so retailers have been working their way through a lot of inventory and arst air they will get caught holding the bag again. annmarie: are the commodities a bit of a reason why you are pausing before coming out of the cave? claudia: fuel -- jack: fuel survey out there. to the we rely on truck companies product, what does the week this suggest? going back to the earliest, you are supposed to have transportation confirming the move in the market right now it feels they are sending two very different signals. unless all transportation has been absorbed into amazon, the only shipping company that matters. jonathan: so, what have you been doing? what have you been selling? jack: i'm running with relatively low cash overall. call that just over 1.5% wi

channel to some of the lower end mass market stores like walmart, and the bright spots are in the bloomingdale'sgh it is a lot smaller. and in the blue mercury business which is beauty and cosmetics, that is more competitive, and those are absolutely high—end consumers and they are pockets of promise for macy's but the big mothership is really where the challenge is and that has been the challenge is and that has been the challenge for the company now over decades. . ., ., , decades. thanks for “oining us. tarnet, decades. thanks for “oining us. target, another _ decades. thanks forjoining us. target, another retailer- decades. thanks forjoining us. target, another retailer in - decades. thanks forjoining us. target, another retailer in the l decades. thanks forjoining us. i target, another retailer in the us, it will be reporting earnings tomorrow. eu member states have approved a law to deal with artificial intelligence. it has banned some uses of ai like the police use of applications to use profiling by race, religion or sexual orientation. separately at the global summit in south korea, a n

you saw that show up in a blue mercury, their cosmetics flagship brand but also in the space in bloomingdale's at macy's counters as well. katie: it is interesting to see the stock reaction and consider that they have activists coming after them. what does this mean in terms of pressure when it comes to those activists? romaine: he was reticent about answering the question. they have 15 members on the board and at least two of those are from that are cost brigade mash-up. -- that our cows brigade -- park ark house ordered and were in that it takes them in the wrong direction -- brigade mash-up. he is worried that it takes some in the wrong direction. katie: that is bloomberg's romaine bostick. macy's currently down .2%. coming up, a cheaper cup of joe. coffee prices should come down this year. we will talk with the ceo. this is bloomberg. ♪ - super excited to open up my diploma from southern new hampshire university. ♪ ♪ - i'm nervous, i'm excited. ♪ ♪ - [man] okay, let's see it. let's see it. - oh my gosh. - jesus suarez, i did it and it's here. (group cheers) ♪ ♪ - [narrator] next term start

after being promoted from running bloomingdale's. now, can lowe's put up good numbers? home depot said do-it- yourself renovators are weak. there's not a lot of housing turnover. lowe's is so well-run and a good place for partners i think the quarter might be well received but they do have more do-it-yourself than home depot as a percentage of the entire. we hear from toll brothers. the ceo talks about how home prices keep going up but the buyers don't stop. it is just that powerful. those doing well financially want to buy. i've known this company since i was a teenager in philadelphia and watch them perform amazing things. they will have a comprehensive overview of the business. this a boss who is the dean of retail in that analyst and by the way had things to say about tj s which is a big position. you can get out your home proprietary research on the stocks we owed. i think it'll do a great job but please don't trade it. don't trade it that morning. some would say downbeat, i say non-promotional story. it throws people off. the first move for the stock at the openin

activists muddying the story, i think the company has made a case for affordable luxury with bloomingdale'seo spring. i'm guessing macy's will be given time to work magic. the $2 stores, very confusing, dollar tree and dollar general, known for lower prices but is the price of costco's membership too high for dollar shore stoppers? if you can afford the up front payment, you know what, so does walmart. the dollar stores are able to offer something that can match or exceed walmart when it comes to lower prices on individual items. here's a real oddity, william sonoma reported excellent numbers and it's certainly not the cheapest in the category. that's wayfair, that's a high quality branld,d and that's wha people want. retail is the ugly duckling. people don't want to spend money on physical items, and even then they're going to be more frugal, even if it means getting a lower quality hamburger or a lattÉ. there's always a bull market somewhere, i'm >>> right now, a special edition of last call live from los angeles, california. from the annual milken conference. the biggest, boldest and may

but it's also opening some new bloomingdale's and bluemercury stores.venue target reports tomorrow morning. the most anticipated earnings report this week comes from nvidia, another bay area company they report tomorrow. taking you live to the new york stock exchange for the latest numbers this morning up across the board. as you can see the dow jones started the day ended the day yesterday below that 40,000 mark. but it's up a little bit today the s&p 500 up slightly as well. the nasdaq posting a slight loss this morning. a local health and wellness company claims to have a cheaper version of the popular weight loss drug ozempic. now san francisco based hims and hers health is launching injections with the same main ingredient as ozempic. but the company says it will cost about $200 instead of the more than $950 that ozempic or wegovy can cost without insurance. there have been shortages reported of both of those drugs due to a recent surge in demand. you do still need a prescription for the compound from hers and hims as you do for wegovy and ozempic.

they're growing two other brands, beauty brand blue mercury and bloomingdales which are the strongererformers of the three. >> there you go. >> there you go. melissa, thank you very much. >> thank you. >>> coming up, the paradox of progressive conservatism. a c-change emerging. we'll discuss that next. >>> as we head to break, a quick power check, first solar up 6%. ubs raising its price target, reaffirming its buy rating. on the negative side, keysight technologies dropping 10% after softer than expected outlook. that's your power check. and "power lunch" will be right back. the all new godaddy airo helps you get your business online in minutes with the power of ai... ...with a perfect name, a great logo, and a beautiful website. just start with a domain, a few clicks, and you're in business. make now the future at godaddy.com/airo are you interested in safeguarding your investments with gold? alamos gold is a growing canadian gold producer with a long track record of outperformance. alamos gold. invest with us. our growth sets us apart. ♪ >>> shares of trump media and technology gr

then everybody flooded to him and what became known as the kitchen cabinet cabinet, all thing bloomingdaleeveral other men who were part of his kitchen cabinet came in and said, you know, first you got to run for congress. and it wasn't reagan. running for the senate was not for reagan. reagan viewed himself as leader. he was president. screen actorhe was leading publc intellectual. he governor suited him president suited him because it was not he was an executive, not a member of a legislature. and i'll tell you one story. many years ago when i was interning in the us senate, ironically for jacob javits, who was actually then you remember, was a liberal republican senator from new york and he my only pet. you remember javits from new york? he they were throwing stuff at people who were for chipman and well my parents were very, very active in the new york state conservative party. and they always had with every kids out passing out brochures and going to polli place do all that stuff. and in 64, when i was eight years old, i was going to door for goldwater, handing literature and many yea

macy's is in the process of closing 150 stores, but opening some new bloomingdale's and bluemercury storeselp the dow head up a little bit, testing that 40,000 level. we'll get your all your business news coming up. thank you for waking up with us here on mornings on two. i'm pam cook. >> you're feeling that 40,000 level again i'd like to see it and stay there. all right. good morning i'm dave clark. it's tuesday, may 21st. steve, the sky is opening up nicely outside. >> a little cool, mr. clark. >> it is a little cool. >> are speaking of lows. occasionally i go to the lows in vallejo. they watch us. trust me, pam and dave. so to all the employees there at the lowe's in vallejo, what's that? are they helpful over there? they're very helpful over there. >> nice, great people. okay. >> good morning. >> i expect a 5% discount. just kidding. just kidding. thank you to everyone over there. 4050 on the temps here. the fog is on the san mateo coast down to santa cruz and monterey. so you know, santa cruz was 66 yesterday. i don't see how they warm up today, but we will jump most locations up toda