brian cornell thewill talk to u first.nvestors about the plan the same store sales guidance is wide from down single digits to up low single digits for the first quarter and full year. >> historically they do better than that? >> i think it depends. during covid, it was bonkers >> i was trying to figure out what is inflation and margins and what is real jay? it's crap py wide swath of u.s. consumers interest rate increases are starting to take hold. >> you say how much market share? >> huge amount they are now $109 billion for the year that is more than 2019 that's a huge chunk of change. they have a much bigger sales figure coming in the question is how much -- >> how much of the $30 billion is inflationary? >> i would say half of the gains. this is standard for retailers not just target. retailers we have talked to in last year, same-store sales gains were because of inflation. the other half was the strong consumer. >> did they take business from walmart? >> they say they are stealing from everybody >> customer acquisit

rupesh, thank you for being here catch brian cornell following the results in the cnbc exclusive coming box" at 7:00 a.m. eastern. >>> and applications officially going live today pulling back the curtain on the criteria to get you a piece of the money kayla tausche is joining us from minnesota with more on the application process and one company looking to get a piece of the funding good morning, kayla. >> reporter: good morning. the application went live this hour 75 pages from the department of commerce and many companies combing through to figure out what the requests would be skywater technology which services chips to the aerospace industry and healthcare industry is one of those. the facility we visited over the last day with wafers made upstairs are put through heat and cold and electrical tests. 80% of the machines you see there are idle as the company prepares to relocate the machines and turns this room into a fabrication facility. it will take hundreds of millions to recreate this facility one floor below and build a new one in indiana there is no cap for the amount a compan

brian cornell was on cnbc today. >> while there has been softness in discretionary categories, we delivered billion of revenue through discretionary categories in 2022. they're not going to zero but we have seen a consumer who is not spending the way they were during the pandemic. >> let's bring in deborah, finder and ceo of core sight research and top analyst at citi great to see you again a lot of people following the stock were a little concerned where target is heading but seem to have put some of those worse fears behind them. >> yeah. they had an analyst meeting and talked about their guidance for the year ahead in terms of traffic, looking at, you know, comps and also margins and provided some details, but i think there is -- there are a lot of questions many have around the consumer, but also a lot around macro policy, which could impact that. >> all right so in an uncertain -- it goes back to what we were talking about with goldman if you think the market is going to do great own them is it that binary for a company like target. >> absolutely not. if you look at top line growth the

target is set to report before the opening bell we have an exclusive with the ceo brian cornell. stay tuned you are watching "squawk box" and this is cnbc >> announcer: this cnbc program is sponsored by baird. visit bairddifference.com. erve,. i promise our relationship will be one of partnership and trust. i am a fiduciary, not just some of the time, but all of the time. charles schwab is proud to support the independent financial advisors who are passionately dedicated to helping people achieve their financial goals. visit findyourindependentadvisor.com this thing, it's making me get an ice bath again. what do you mean? these straps are mind-blowing! they collect hundreds of data points like hrv and rem sleep, so you know all you need for recovery. and you are? i'm an investor...in invesco qqq, a fund that gives me access to... nasdaq 100 innovations like... wearable training optimization tech. uh, how long are you... i'm done. i'm okay. this is ge aerospace, advancing flight for future generations. ♪ welcome to a new era of flight. ♪ this feels so right... ♪ adt systems now fe

brian cornell is a fabulous merchant i have to tell you, i think he completely low balled.cretionary inventory -- inventory is the only thing that really matters right now he's cleared inventory, 13% discretionary recline. the stock will go down because, i don't know, people don't understand it and they take the reaction from other people who take the reaction. david, i've never met -- the street is sheep. they're sheep. >> it does happen a lot. it does. particularly in a period like this. >> sheep have very bad arthritis. >> very bad arthritis? >> oh, my god. i'll tell you something, you get a real nice kind of rug or -- sometimes you don't -- >> poor sheep. >> they can make a comeback if they don't have arthritis. >> you want to hear what cornell had to say >> i memorized it. >> you did >> yes, i did. quiz me. >> let's listen to him and see if you're right. i like cornell. >> he's from whitestone, from queens. >> i do know that. >> inflation has been very stubborn sitting here today it's down from the highest rates inflation is still a factor in the business, still pactin

. >> brian cornell, target ceo, said the food was the strongest category, and beauty -- take a listenting here today it's down from the highest rates, but inflation is still a factor in the business and impacting the consumer and their spending so we have to watch that carefully. it's impacting costs and still impacting transportation, and they are still faraway from a more normalized environment. >> walmart said last week, americans are feeling the pressure and becoming more cost conscious, and the target private band tends to be cheaper than national brands. cornell says they are taking bold actions to invest on a type of inventory they have on hand given that consumer preferences are changing. >>> the biden administration announced its launched a major crackdown on child labor. the announcement comes in the wake of reports by nbc news and others that thousands of children, particularly migrant children, have been working long shifts in grueling jobs here in our country. joining us to talk about this, is julia ainsley. you have been reporting on this for a long time, and last month

will be on air, doesn't have as tough a job, and marvin ellison -- brian cornell from target -- marvinwe's has -- the world is his oyster the market still loves and the analysts still love all the off-price because they keep waiting for the bed bath & beyond to fail already federal realty, when you read their note to shareholders, they're just talking about the expected bankruptcy. no bankruptcies have happened yet except for party city. so, i do think, though, that i think that these have been somewhat derisked, although target still sells at 22 times earnings that's too high. it's just too high hey, by the way, the one that people hate today is best buy. that's at 12 times earnings with a 4% yield, and you know, we had two pieces that are saying they are going to miss big. we won't have long to wait they report on the second. i don't know i think corie barry is doing a good job, but i think people are taking their cue from what walmart said about how bad electronics is no matter what costco says, it's going to go down unless they offer special dividend and that's because costco annou

almost a year discounting help them to reduce the inventory issue you heard that from the ceo brian cornell challenging environment of this white target is giving every wide range of 2023 guardian so they say the same store sales which is basically how you measure for truck make could be capitol of single to be up and low single percentage points quite a hedge there but high inflation ultimately consumers are shifting convergences to the groceries beauty and household items essentials as they say. stuart: will foot traffic in the upper down and announce and we go, the cruise lines, what is happening there norwegian. susan: is disappointing looking at a cell if you're in the stock and this because of a bigger gloss of expected despite the fact that evidence revenge travel ready received that also their minds and resent to report the record profits, and the sales did beat butter next god below forecast and you know it market day dennis, i think using the commercial i think we use in here printed the software services provider and strong earnings last year subscription revenue was up by 20 per

don't miss out on an exclusive interview with target ceo brian cornell on "squawk box" at 7:00 p.m. eastern time. sometimes i like to call that the ceo indicator. norwegian still carrying 10% short interest and expected to report a loss. seema modi, you've got the story. what is the deal with norwegian? >> kelly, as you know, the story for travel has been one of strength and a positive view of the consumer that is willing to pay top dollar for a big trip and a big vacation royal caribbean ceo jason liberty joining usa few weeks ago where he said that pricing power would improve going into this year and that will be the question for norwegian which is much more skewed toward the luxury customer and how much e la lastisity is there, and how does it view the competition from the likes of marriott that debuted the ritz carlton yacht and these were smaller vessels that can get into ports that larger ships can't and speaking to a number of travel agents and customers are very receptive to this idea and it does come down to their balance sheet. analysts have been cautioning that of the pub

>> yeah, that's what i'm anxious to see brian cornell has a good team over there they have been reallytruggling they don't have the velocity and traffic that's driven by that big food business that walmart has. so clearing out the inventory for them is going take more time and probably take a little bit more money so i'm curious to see how well they did there it's a challenge. >> bill, seeing what rates are doing in terms of thinking about how consumers are dealing with higher debt burdens, for instance, inflation pressures in general in daily life, if you had your druthers, would you be investing at all in retail these days i guess that's my way of asking you how bad you think the consumer will get in the short term >> i think the consumer is resilient. always have been they find a way to get what they need and want. doesn't always look the way that us retailers think it should look the one that figures it out and gives it to them wins. right now i think walmart is doing that with their food business amazon is struggling they haven't figured it out. the world has changed and they have

tom: brian cornell as the addresses that.d items, beauty products, essentials, food even. target does a bit of a food business. they have this thing because discretionary categories. people are not being discretionary with their discretionary spending because they're spending it on rent. jonathan: discretionary is outperforming on the s&p 500 on the year today. on the year to date -- on the year to date. tom: i have never been comfortable with the word discretionary in sectors. i have never gotten it. toothpaste, is that discretionary? is a bowtie discretionary? no it is not. lisa: yes. jonathan: bowtie should absolutely fit under that category. it might be stable for you. tom: tang is not discretionary. lisa: when it comes to discretionary, how much i with community resurgence in travel and experience and supporting the discretionary spending? jonathan: casinos, cruises, those crazy people -- on both 40 week. [laughter] lisa: we are going to resurrect that. jonathan: the idea of being stuck on a boat. with you guys? sure. wi

cornell: brian was buying a chainsaw to remove toppled trees by his house. by midday, six inches to nine inches of snow has fallen. no snow clouds around here, but this backhoe was getting the job done, clearing a parking lot. at times, driving was too dangerous. that is why zach grabbed his skis for a quick run into town. >> just come down to town on the skis. [laughs] i've never seen this before, in five years of living up here. cornell: check out the snow-covered vineyards. a drive-through wine country look more like a trip through tahoe. generators were keeping the lights on in the fire department after a widespread power outage, which lasted about nine hours. >> but the concern is for restaurants here, you know, if there powers out very long, then their cold food warms up, and they are not allowed to use that. cornell: roadblocks were up on highway 29, where the rotors more than a foot of snow fell on mount st. helena overnight. >> we just came up for the weekend, and we were psyched to see snow, but they are telling you you can't go. cornell: you know,

cornell: brian was buying a chainsaw to remove toppled trees near his house. by midday six inches to nine inches of snow had fallen. no snowplows around here but this tobacco was getting the job done, clearing the parking lot. at the time driving was too dangerous. that is why zach grabbed his skis for a quick run to town. >> good excuse to come down to town in the skis. never seen this before. cornell: hey drive-thru wine country looked more like a trip through tahoe. a widespread power outage lasted about nine hours. >> the concern of course is for the restaurants here. if their power is out very long, they are, they have cold food that warms up. they aren't allowed to use that. cornell: caltrans says more than one foot of snow fell on mount st. helena overnight. lauren purcell in berkeley was in search of snow. >> we were coming up for the weekend, psyched to see the snow, looking for more of it. but they are telling me i can't go this way. cornell: caltrans says highway 29 could be closed through the weekend because of downed trees and power lines. the sno