becky is making her way back from the interview with brian cornell.nother brick interview. she caught up with walmart ceo doug mcmillon at the cnbc evolve conference in los angeles. we have that exclusive interview straight ahead u.s. equities looking to be in the red. dow looks like it would be off 88 points down s&p 500 down as welby 9 points nasdaq looking to open off about 32 points down despite those good earnings from target this morning, which were better than anticipated. >> becky's on her way making her way back to the studio after her interview with target ceo brian cornell. the retailer reporting results just a couple of minutes ago earnings and revenue above beat the street and the company raised its guidance. target shares trading at an all-time high in the premarket here's cornell commenting on the quarter and the state of the consumer >> we focus a lot on bringing great inspiration to our guests when they shop our physical store or online making it really easy in all of the fulfillment options, order online, pick up the store, drive int

in common, basically when they were asked if they had the opportunity, the consumer is strong brian cornells interview with brian, noted here, we continue to see very healthy consumer -- holiday season nonetheless, the stock market, a lot of complacency, grinding higher, not a lot of news, very narrow range in the last couple of weeks, very low volatility. there is seasonal strength, we get upticks, day after day and more money kind of comes in, that fomo we keep talking about. no reason for anybody to get panicky or concerned, but it is a little bit complacent right now. i think people are talking about that as for the tariffs, you can't help but feel that the talks are stalled somehow. sort of three choices, the market keeps talking about number one, an actual situation where you get a real deal, a phase one deal no new tariffs and existing tariffs are rolled back. the question is what kind of concessions would the president get for that, that seems to be stalled out a little bit that's a problem now what everybody down here calls phase one light, there is -- you get essentially where you

three years ago when brian cornell talked about the -- it is paying massive dividends right now. those investing in logistics supply chain, the ability to get the products to consumers same day or within one day, they are really generating increased traffic and increased business or the holy grail is same-day delivery. everybody is moving in that direction. it is a huge cause for retailers. those who can execute it will be the mentor -- the winners. vonnie: i want to ask you about carl icahn, because he has chosen to go up against the department stores. you have to wonder about timing. carl icahn has been good in some instances on timing. a lot of investors have been waiting for the shoe to drop on department stores. is now the time? ken: it feels like it. many say we are toward the end of the economic cycle. economic growth has been moderating this year but has still been pretty good. yet the department store earnings this quarter have been down 20%. they have been down since the first three quarters of this year. store closures are materializing. what will happen when the econo

gigantic growth driver and heard brian cornell say on "squawk." one reason it surged 14% in the wake of a terrific quarter we're seeing the same thing from lowe's the ceo upgraded systems to reflect the modern day world they didn't have that before he got there. if he gets more digital business it could surpass home depot. no wonder lowe's went 4% in an ugly session home depot all systems are hurting the business and can't be improved overnight. facts, the difference is stark all right. how about kohl's >> sell, sell, sell. >> kohl's which melted down on monday after a devastating quarter. their problem is simple. they don't have anything special. kohl's doesn't have the kind of fabulous digital platform that can compete with target or with walmart let alone amazon you can only get away with it when you have the lowest prices but kohl's doesn't have that either a department store, not an off price chain like tjx or burlington kohl's as much as i like to shop there isn't good enough. that's why it's a mistake to extrapolate from the retailers to th

becky quick will be joining us in just a little bit she's got a big exclusive interview with brian cornellomething you don't want to miss plus exclusive interview with the ceo of walmart and activision blizzard. we'll talk about that with

what is brian cornell doing in the bricks and mortar digital game?reflecting his strategy. it comes down to everything around private label, a way to differentiate themselves. the small stores they are expanding in urban areas and the stories -- stores they have rolled out are engaging with customers. anna: what is it that the others are doing wrong? what are the others falling down on? >> i don't know that it is so much falling down, but target has been able to get a good balance between the private label brands and professional brands that value the perception people have. they are driving online sales and they are able to fulfill those at a lower cost. we had a really mixed season this earnings period with regards to retail, but target is doing the right things. anna: the stock has gained 68% through tuesday's close and expected to go higher? certainly, as i came on to join you, the stock was up about 8.5%. customers still love that target experience. we are in an economic environment where people are still spending, but spending wisely. valuee la

we always joke about your relationship with brian cornell. you are friends. >> yep >> you've pitched this stock for about as long as i can remember and you've been dead right and you deserve credit for that. >> wow i appreciate that. >> they keep performing. >> but the reality is go back a year ago, stock was trading in the 60s when brian said we see strength everybody talks about recession and all the different things out there that are the boogeyman, but he never brought that up he continued to pound the table that the consumer is strong. and you look at each one of these quarterly earnings results, and just the last one that they had, their numbers were off the charts then once again he talked about margin expansion and the strong consumer they have just been executing the right way. and they made all the stores look a heck of a lot better, they started going more and more toward these formats that are in the urban areas and college campuses and of course the buy shipt. and that is the building block in terms of what they are doing for the

it's been a great partnership with brian cornell and his team. >> last question, people worry about theividend they were saying you took on so much debt. i can't believe how much you paid down. >> that's right. we paid down about $8 billion since, you know, we closed the transaction and, you know, we have a plan to achieve our leverage ratios in 2022. get to the low three times and be able to, you know, begin to expand our capital deployment strategies. >> well, the work you have done is admirable and terrific. larry merlo, president and ceo of cvs health. this is a value stock with great growth stick with cramer. man: how can i deliver superior long-term results? it begins with a distinctive approach to managing money. that for over 85 years has focused on keeping confidence up when markets are down. an approach where portfolio managers work well independently. and even better together. who don't just invest, but are personally invested. can i find a proven approach designed to deliver results? with capital group, i can. talk to your advisor or consultant for investment risks and infor

when was -- the moment i heard that, i thought how long ago was it when brian cornell said this is theest retail i've seen in my lifetime? >> that was last year. >> was it last year? it was already last year. >> yeah. they've been saying this for a long time and i think to be fair even home depot actually said to me we are absolutely not seeing a slowdown in the consumer we lowered our guidance because these initiatives we have planned are taking longer to bear fruit so i just want to get that out there because, yes, there are retail winners and losers. some of these, i think, are self-inflicted to some degree. so you have to do your homework. which i think is interesting we talked about that move in target i mean, look how strong it is. up 12% it's not lifting out retail stocks i think investors are starting to realize there are different stories to be had in between but consumer in general i think is very strong going this hol holiday season. >> i'm a little slow on the uptake sometimes but this one really startled me the cost, you know, i was wondering how many people are actually g

people are spending they're spending they're also spending where the bargains are >> right >> brian cornellold target. i don't know if you have been to cost collately, but no price increase from the tariffs that i can find >> that's really the case. we're collecting now $7 billion worth of tariffs a month i believe at the treasury on goods coming in from china >> i think it's the leverage that costco has. they can tell people, look, are you eating it. we'll take so are you eating it. i once was involved in a business and i didn't determine what price we got. they did usually there's bargaining whatle mart is very similar. they're such behemoths they can really change things. you know i think the walmart announces great numbers. there is no impact from tariffs and inflation is low did you hear that? >> it is interesting, you know, it is sad that the president spend a lot of his time in the warning watching a lot of tv screens. so while fox and friends is certainly up there, so are we. >> fox and who friends? >> oh, we don't watch that show. we're doing it >> i was on it for two years that's

and don't miss an exclusive interview with the target ceo, brian cornell, after the retailer reportsmorrow morning on score box, 6:30 eastern time. up next, we'll bring you uninterrupted coverage of the final miteofhe tdenus tra and we'll take you inside the market zone when "closing bell" returns. ozart. as usual we were behind schedule. but sophie's enthusiasm cannot be dampened. not even by a run-away donut. we powered through it in our toyota prius. because a star's got to shine, no matter what. it's unbelievable what you can do in the prius. toyota let's go places. woi felt completely helpless.hed online. my entire career and business were in jeopardy. i called reputation defender. vo: take control of your online reputation. get your free reputation report card at reputationdefender.com. find out your online reputation today and let the experts help you repair it. woman: they were able to restore my good name. vo: visit reputationdefender.com or call 1-877-866-8555. you should be mad your neighbor always wants to hang out. and you should be mad your smart fridge is unnecessarily

and we had a media briefing ahead of holiday with brian cornell and he effectively reiterated everythinguidance going into the holiday quarter. he said, he's never felt better about the holidays so i think you're on to something wihere here we go we've got about 15 minutes left before that closing bell sounds for the weekend. we're on pace for record closes for both the s&p and the nasdaq. and the dow is sitting just about at session highs, as well. >>> up next, uninterrupted coverage of the final minutes of trade. we're going to break down the biggest stock stories of the day for you when we take you inside the market zone. u' gngo want to make sure to stick with the "closing bell." ♪ ♪ annoepidemic fueled by juul use with their kid-friendly flavors. san francisco voters stopped the sale of flavored e-cigarettes. but then juul, backed by big tobacco, wrote prop c to weaken e-cigarette protections. the san francisco chronicle reports prop c is an audacious overreach, threatening to overturn the ban on flavored products approved by voters. prop c means more kids vaping. that's a dangerous

quite the same strength as we saw in the last report but still pretty impressive, you know, ceo brian cornelle aims to make target america's easiest to shop store and big part of that as we know is the digital, the drive-up service, same-day delivery and, again, those digital comps up 31%, pretty strong report, indeed, maria. maria: really is, the stock is on fire, ashley, up almost 8% right now on target, interesting to see how bifurcated retail is, we have been talking on the other direction with home depot, reaction. dagen: there are a lot of winners in the retail space, look at wal-mart and now target, you had tjx, lowes not that bad, again, one thing benefiting the consumers is gas prices, reasonably low and lower interest rates. maria: unemployment at 50-year low. >> discretionary spending, debt is being controlled, there's confidence, target, wal-mart, these are all great things speaking to the economy, that's good for the financials. maria: i love the fact that we are raising the guidance. jon: you can't take a couple of misses of home depot and say it's weak. maria: good point, we wi

. >> the difference is, we've spoken with brian cornell earlier this week at target.s actually able to bring those costs down when you convince people to pick things up at the store, when you use a secondary service like shippet, you kind of have to do the stores there, too. you need the store base but you have to figure out a smart online. >> exactly the combination. online pickup in store is your most profitable. you can get attachment sales as a result of that when customers shop multiple channels they typically buy two to three times more than the single channel how do you make the store exciting how do you basically capture the customer on their phone to get to bring them into the store that's the conundrum that they're all running into differentiated merchandise, exclusive offerings. you're having really targeted emails going out to people texting them at the same time. what is all this about it's a service offering at the same time. target and walmart, the ability on price and the ability on value and convenience in order to be able to offer that macy's is figu

. >> charlie, we had brian cornell on from target last week. >> yes. >> he talked about how having theres is now a benefit. we used to look at it and think, oh, the stores are going to slow you down, it costs you too much to run that. when it comes to the fulfillment orders if you can convince them to come into the store after they ordered online or go to the parking lot and they deliver to you, that brings the cost of fulfillment down to 90%. in the future does this have to be a game where you would have not only online but stores >> you've got to have stores stores are an asset. walmart's been able to do, 5400 physical locations in the u.s. including sam's. that's a powerful weapon you can use them to fulfill online orders. you can ship from store. for target it works because the stores are so locally curated. for a best buy, for instance, i think they would rather ship and stock stores out of the same distribution and fulfillment centers to take those costs up target's nailed this and the food strategy is something that i've called out a couple times we thought they needed to get fo

becky quick has an exclusive interview with target ceo brian cornell.. the stock has been a retail bright spot this year. we'll find out if the rally can continue urnlonsqwkoxrow in the 6 a.m. ho oy "ua b." >>> welcome back to "squawk box. october read starts up close to 4 o perfection percent and a positive revision last month which took it down 9.4 to 7.9% at 1.296 million that's seasonally adjusted annualized on the permit side, very solid up a solid 5%. brings you to 1.4% seasonally adjusted annualized units. on that housing number, 1.314. you do remember that august number at 1.386 was the highest since june these are decent numbers one would think it would firm up a bit. dollar index has recovered somewhat trumped. the reason he talks is to stamp that number down we'll continue to monitor how to rest at lower yields when everybody was excited as christine lagarde took the helm. andrew, back to you. >> thank you for that. appreciate it. great to see you want to get over to steve liesman who joins you. steve? >> good number, andrew we've been in thi

brian cornell, whole group of models, five different models depending where he is.s that people who are allegedly not doing well actually have two incomes and are being underserved. i think he's being far more visionary. he's putting soccer fields up wherever he does these things. he's very self-effacing, someone has to be able to represent how well he's doing. so i will. i think he's doing a fantastic job. >> did you sleep on a plane? >> a little bit. hard to sleep after the eagle -- it wasn't a beatdown, ugly game. >> it was ugly i didn't think -- you know who looks unbelievable the ravens >> the ravens are there. >> the ravens are there. >> they have -- >> we won really big yesterday. >> i know you did. >> the seams can come out. look, you're right i just -- the saints look good. >> i wonder how you got out there. you -- >> philadelphia red eye. philadelphia red eye just got there, yeah i got a quick question, you know my daughter graduated from tulane, how about the renaissance of tulane. how great and exciting that school is. >> partly started when your daughte

cornell barnard, abc7. >>> san francisco based airbnb announced big changes. party houses will be banned on the site. ceo brian chessky said doing our best to combat unauthorized parties and get rid of abusive host and guest conduct. we must be better and we will, this is unacceptable. expandedmanual screening, form a rapid response team and take immediate action against violators. this is the listing page, specifically banned parties and weapons. >> city of orinda maybe making changes to its policies. >> the shooting has shaken this community. spoke to the mayor ofsaid mightt week. sounds of bullets broke out on halloween inside this home on lucille way, still vivid in many minds. >> i don't feel safe knowing someone could do this in our neighborhood. >> five people in 20s lost their lives. police haven't makde arrests. >> i don't go out at night, i'm scared. whoever did this, are they still arou around. >> reporter: did the city know of particular parties at this house? >> understanding from city manager there was a complaint about parties earlier this year, in february. >> reporter: city provided records sa

cornell barnard abc 7 news. rlatform in the wake of the orinda shooting. party houses will be banned on the site. in a statement on twitter airbnb ceo brian chesky said we are redoubling our efforts to combat unauthorized parties and get rid of abusive hosts and guest conduct that leads to the terrible events we saw in orinda. we must do better and we will. this is unacceptable. the company plans to expand manual screening of high risk reservations from a rapid response team and take immediate action against violators. here's the screen shot of the orinda homes listing page. airbnb says the listing banned parties and weapons. now the city of orinda may also be making changes to its short-term rental policy in the wake of this shooting. luz pena smoke-- spoke withhh mayor. >> reporter: halloween inside this home at 114 lucille way are still vivid in many neighbors' minds. >> i don't feel safe knowing that someone could actually do this in our neighborhood. >> reporter: five people in their 20s lost their lives and police have not made any arrests. >> to be honest with you, i don't go out at night for the last few nights. i'm kind of scared