of course, a lot of exposure with burberry there with the sales down 21%.s demand from the luxury consumer is not coming back very much. they mentioned weakness across the board for the different brands. again, the turn around story and the creative director in october of 2022. the first collection in february of 2023 and the first products started hitting stores in september of 2023. they were waiting to see if the products coming into the store would see the turn in the trends, but they haven't seen that. that is why we see the ceo who joined in april of 2022 is stepping down and replaced by joshua schulman, as you said has been ceo of michael kors and coach as wellenm as jimmy choo. the chair speaking on the call apparently said maybe with hindsight, given the global slowdown, maybe they went too far and too fast in the new proposal. they will refocus their proposal with the core products. outer wear is what they mentioned has been going well with the scarf sales. they said the new creative director is here to stay for now. they will stick to this. certa

burberry has warned _ blue for everybody. burberry has warned of _ blue for everybody. for everybody. burberry has warned of a half-year i has warned of a half—year operating loss and said full—year operating profit would miss market expectations. the british look teller also suspended its dividend in replaced its ceo. effective immediate. it comes amid slowing demand for luxury products from europe and the united states. just a quick recap of our top story this morning on business today. shares in donald trump's social media company have surged, closing up around 31%. it comes after the former president survived an assassination attempt on the weekend. today he finds himself in milwaukee, wisconsin, we are we can see some live pictures right now, as our coverage will be continuing from the rnc, the republican national convention, in the hours ahead on bbc news. you can also follow along online, on our website. our life page has remarks from joe biden saying his calling for putting donald trump in naples i was a mistake. do stay with bbc news. that coverage in milwaukee

management changes yesterday with burberry replacing the ceo.hat means it will be another year before we see if another turn around will work. hugo boss. there are not much alarm bells with hugo boss. they are spending on marketing and retail, but the underline collection looks okay compared to burberry at 20% plus. it shows you need to choose the companies which are genuine luxury or resill egypt and you can pretty much ignore the rest afternoon the moment. >> john, congratulations picking the three ones to best perform as well in the last 12 months, even year to date. with the weakness you see in the players with hugo boss and especially in the likes of burberry, m&a chances in the sector. why is that not happening? >> that's a good question. if you look at the overall sector, balance sheets are pretty strong and pretty resilient. however, if you look at the most obvious buyers of a burberry or elsewhere in the space, you are pretty hard to find the companies. does lvmh or kering need a burberry compared to the decent brands they have? richemo

burberry naming joshua schulman as the new ceo.6.5%. >>> other stocks including lvmh and richemont down 2.5%. >>> looking at tech this morning and anl phaalphabet looking to . wiz raised $1 billion earlier this year at ta valuation of $1 billion. i spoke to an analyst last month about wiz and aws. >> they are doing a great job in the vulnerability management space and doing a good job of how cloud infrastructure is configured and used. >>> apple hitting a record of $8 billion in india. revenue jumping one-third from a year ago. india is a rapidly growing market for apple. you can see shares are up 2% in the pre-market. >>> coming up, much more in the assassination attempt of former president trump as we look at the fallout of the political violence. ian bremmer on what he is telling clients in these times of uncertainty. much more "worldwide exchange" coming up after this. to help you see untapped possibilities and relentlessly work with you to make them real. dave's company just scored and relentlessly the comcast business 5-year

shares of burberry plunging 16% today. warning after reporting disappointing quarterly numbers. burberry suspending its dividend and replacing its ceo. the stock now down nearly 65% in the past year. other luxury retail stocks under pressure today, too. the adrs of gucci parent. karen, you were just listening to that call. what did you make of this, it looks like a disaster. >> oh, my god. that call was so bad. i mean, they're british, which i kind of love, and so, they have this, you know, keep calm and carry on, even though the numnumber s were terrible, and they were getting worse as the quarter went on, and they exited with worse numbers than what they showed. they sort of tried to be for fashion forward, but maybe sort of lost their way with their more typical customer. so, they kind of seemed to be -- to me, it was like, you know, we're lost, but we're making good time, which is my favorite yogi berra quote ever. you didn't get the sense that, you know, someone asked a good question, like, you keep saying, we're just

the fashion brand burberry has changed its boss the fashion brand burberry has changed its boss as it will take over as chief executive, replacing jonathan akeroyd who is leaving burberry "with immediate effect". the change of leadership came as burberry reported a sharp fall in sales, as it continued to be hit by a downturn in demand for luxury goods, particularly in china. the company said it was also looking at cutting jobs. data from walt disney's internal slack workplace collaboration system have been leaked online, according to reports in the wall streetjournal. the report said the leak includes information about ad campaigns, studio technology and interview candidates. a hacking group known a nullbulge has published leaked information and claims to have released over one terabyte of disney data. the company says it is investigating. now, with the global wellness market set to reach a value $1.8 trillion his year, it's an industry always on the look out for the next big trend. step forward self—hypnosis, the latest technique that promises to help manage everything from stress an

that's a whole disaster with burberry, as well. it doesn't help that -- that their big opportunity market which was asia and china specifically isn't doing all that well. it's hard to blame macro because they had to bring in a new ceo. >> meantime, i have to pay attention to what the policy means for stocks. wells fargo securities, head of equity strategy chris harvey with us. and jpmorgan chief u.s. economist mike feroli. appreciate you coming on in an important day. i thought about you because your note about rotation which you have doubts about because of earnings. >> that's right. i think we're not against the rotation, we're just waiting for -- i think a lot of people and investors are just not sure about the e. and until we start to see situation where's a nike, a delta, a walgreens doesn't go down on bad news, we won't -- we're not convinced of the rotation. right? we want people to believe that numbers are going to be higher, that things are going to get better. but bad news right now is bad news. and that for us means that

what happens with burberry? >> good chance it moves down.y've worked hard and the product was good. a lot of criticism, it just never seemed to get buzz. what it really needed was you to inject the buzz. they raise the price to quickly. that was a red herring. i cannot see how it gets that. he was gucci. tom: i was wrong. guest: in the early days you had a floral suit, fiance head to toe, but we just saw them get that. tom: thank you indeed, bloomberg opinion columnist on the luxury space, andrea, thank you. this is bloomberg. ♪ ♪ >> on inflation we did not make progress. second quarter we did. we have had three better readings and a good pace. >> jerome powell sees more confidence toward the 2% target. this is the adjustment for the markets. white ryan -- line is representing september. 25 basis point cut, november pricing a second cut in market starting to think you get three cuts. the last time i checked it was closer to 67 basis points. the rationale is there and not their base case, they can make the case for july cuts not yet. let's ha

the german fashion house joining be burberry and swatch taking a hit on the sector.watch and burberry pointing out to negativity to that. household goods going down .50%. that is where you find hugo boss. the resources going down 1.6%. on the upside, real estate with the interest rate cut anticipated to flow on, not necessarily this meeting, but next, will be in focus. frank. >> arabile, thank you very much. arabile gumede live in the london newsroom. >>> we will continue to talk about the consumer and what is a very big day for the retail sector. first up is the sales data out before the opening bell. a report that many believe is a market mover showing .50% slowdown from a month ago or flat if you exclude auto sales. today is day one of amazon's prime day which adobe predicts $14 billion in sales. that is up 10% from a year ago. this comes with new warnings around the kconsumer that includes commentary from bellwethers like pepsico noting subdued demand in north america. conagra missing the sales for the fourth time in five quarters. the company lowering fiscal yea

i'd like to look at dolce & gabbana, versace, burberry, ray-ban, persol, oakley, costa, michael kors,uren. (♪♪) what colors? sunglass hut. find every shade of you. inez, let me ask you, you're using head and shoulders, right? only when i see flakes. then i switch back to my regular shampoo. you should use it every wash, otherwise the flakes will come back. tiny troy: he's right, you know. is that tiny troy? the ingredients in head and shoulders keep the microbes that cause flakes at bay. microbes, really? they're always on your scalp... little rascals... but good news, there's no itchiness, dryness or flakes down here! i love tiny troy. and his tiny gorgeous hair. he's the best. - make every wash count! - little help please. [ cheers and applause ] [ beep ] >> jimmy: well, good afternoon passengers, this is captain wilson speaking. [ light laughter ] joined by first officer peters. >> hi there, folks. we've reached our cruising altitude. things should be smoothing out for an on-time arrival at our destination of chicago. [ light laughter ] >> and as we just wanted to take a moment to

that was happening again and again, you had burberry and hugo boss.ee airhermes, and then louis vuitton, and burberry and hugo boss. that was a disaster twice. earlier in the year they said we have a disaster at gucci. they were absolutely right about that. it was a little bit of an understatement perhaps. kerring actually stopped going down. i think it should still go down, but i'm long obviously started out great in the year, it's not now, but i am very optimistic even with this quarter, 24% margins, operating margins. that is tremendous business. so staying long with bernard. >> and the lvmh is in your acronym. you've been worried about the consumer for a long time. here we do have a lot of different data points, you know, for different income cohorts that indicate that there might be some trouble. how are you feeling now compared to before? >> yeah, i think it really -- it solidifies my belief that, you know, for the ultrahigh end consumer, the hermes shopper who is totally okay spending $10,000 for a handbag, no problem, is very different than th

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the earnings are in for burberry and now its ceo is out. the british luxury brand hopes a new leadership will help fix its slumping sales. this comes after a disappointing quarter in which sales dropped more than 20%. jonathan ackroyd, who had spent just two years in the role will leave the fashion house immediately. the company also plans to shift its focus from targeting high end spenders to offering what it calls broader everyday luxury >>items. yeah. >gianna>well, starting today, visitors to venice no longer have to pay b ,5. the italian city had a pilot program in place for the past 29 days that charge the fee aimed at deterring visitors during peak times. but critics of the move say it was a failure with the program, raking in more than $2 million without curbing visitation numbers. well, speaking of numbers, weekend box office numbers for you want to monday despicable be for the top earner for a second consecutive weekend, >>bringing in >gianna>more than $44 million >>domestically. >>the horror film long legs was second with just ove

it took about burberry and gucci.s really a consideration. on the cyclical level i would say that we are getting back to a normalisation of consumption, after the boom post covid that after the boom post covid that a lot of customers experienced. we also have, if you like, a considerable slowdown in china of the chinese economy. whether this is going to recover, i still believe in the growth potential of china. there are also structural issues in this economy that are related to the tensions to trade, international relations. we should not beget that why have we seen such a boom of luxury goods conception in the last 15 years? it was on the back of really strong globalisation growth and that created wealth around the world. this engine subsides that we may see tougher times for luxury brands. , ,, , ., , ., brands. dr stephane girod, thank you _ brands. dr stephane girod, thank you very _ brands. dr stephane girod, thank you very much i brands. dr stephane girod, thank you very much for i brands. dr stephane girod, i

and the rest of the sector, gucci is still in a turnaround phase as well as burberry. they also got rid of the ceo. so it is difficult. tom: ok, angelina in paris with a fantastic wrap of what has been a significant week for the luxury sector and hermes holding its head above water. other stories making the news this friday -- a confirmation that meta is interested in buying a stake in the world's biggest eyewear maker. u.s. tech giant intends to become a shareholder potentially building on a years long partnership to develop smart glasses. it is not planning a capital increase in the u.s. -- and the u.s. firm would buy shares on the markets. alphabet shares dropping after it's open -- after openai said it is launching a test version of its own search engine which would compete directly with google. openai says search gpt will answer questions with more timely information and prominent links to sources. it will be released as a prototype on web browsers and could be added to as best known product, chatgpt. and staying on the generative ai thing, reporting from the fina

kering joins richemont and burberry. let's brian wing in javier who the luxury fund ltx.ood morning. >> good morning, frank. thanks for having me. >> we were talking when i was in london. china was the issue then. in your mind, is china the biggest issue for the luxury brands or is it a problem globally? >> i think we have a broader slowdown clearly in the aspirational consumer. i think things deteriorated rapidly in china because you have other things going on there like a clamp down on wealth. there is a broad slowdown in the middle income consumer which is impacting many luxury groups. >> you are saying there is a slowdown. i was listening to the lvmh call yesterday. i want to see if you agree with the comments. i think we may have technical difficulties. javier, people are not buying champagne because they are not happy. and people are not buying tiffany because they are not getting mattrried. they cited geopolitical issues. do you agree or disagree gl globally? people are not as happy an as in the past and not as willing to spend? >> i don't know about that. i do thi

i'd like to look at dolce & gabbana, versace, burberry, ray-ban, persol, oakley, costa, michael kors, colors? sunglass hut. find every shade of you. ♪ >>> david syring has been with his new company for just over a year when a new sales rep joins the team, laura day. >> my opinion of how laura would come off to people, or how she came off to me, was from the old sitcom "three's company" as chrissy, the bubbly, you know, bleach blonde. >> is he gone? >> yeah, everything's all right. >> no, it isn't. >> what do you mean? >> you ate all my cake! >> that's kind of the stereotype she came off to me as. >> she was attractive. i mean, everybody noticed her. she did good as a sales rep just with her personality. >> and then you met david syring. >> yeah, we met each other at a time in our life where our marriages were falling apart, and so we just kind of fell in love. >> i was going through a rough patch with kelly, and laura was very friendly. she was married, too. she would explain to me the issues that she had in her marriage and seemed as though, you know, neither one of us were really ha

a little bit like we were talking about burberry. it is challenging for them.e talk about kering and we talk mostly about gucci. it makes two third of the operating profit. they have a new creative director that came on board recently. they have a strategy which say different aesthetic. we have to wait and see if the chinese buyer buys into it. the second half will be really pivotal if we see a pick up in the gucci demand. looking at that warning where kering is saying the operating income in the second half is expected to be down 30%. could a turn around take longer than expected at the cost higher than expected? not much light at the end of the tunnel for kering. there are other concerns because other brands are weaker. there is a slowdown with lvmh with 1% growth for lvmh. other houses down 5%. only the smaller house for them with good momentum and continuing. overall, it is a tough one for kering. they are looking away from gucci. they created a need for beauty and just starting to build and create a perfume acquisition. they bought a stake in valentin oval

burberry did not have good numbers. hugo boss.as concern in china. >> it was a funny call because it shows you, like lenin said, if the rich aren't happy, it's their own fault. i had had, let them eat gateau. >> we're worried about champagne and fries today. >> there's a combo. champagne, caviar, french fry. >> meantime, we're sub-5,500. qqqs, red for the month and now some flash pmis. let's get to rick santelli. >> yes indeed, and also, bank of canada just cut for the second consecutive time, 25 basis points, down to 4.5%. s&p global, july preliminary reads hitting the wires. on manufacturing, not good news. back below 50. 49.5. the lowest of the year. lowest since december of last year. if we look at services, a completely different story. 56. 56 takes us to the highest level to march of '22. march of '22. so, that is cooking in grease, and of course, affected the composite in a positive way. the composite is 55.0 and 55.0 would be the highest read since april of '22. we still have new home sales at the top of the hour and 70 bi

we've seen it in terms of burberry and hugo boss. today, lvmh and the hit there down 14% the most coming through from china. do you agree with that sentiment from goldman? do you want to be looking through your portfolio an weeding out companies that get the bull -- bulk of their sales from europe? >> the level of cash, they're ok. the level of spending should be ok. this is not fitting into the higher spending. the propensity is not realizing in europe. you should expect something from china. it is what we're seeing, the escrow recovery that we've expect expected that the market has been on the expectation of that recovery is not coming from the stock market as at the moment. >> what does that mean for the discount then? does that persist? there was some expectation that maybe we could get a bet of a close, the valuation gap between the european and u.s. stocks. what is your take when that turns? >> this was our expectation ahead of the -- ahead of the q.2. it delayed the recovery. we had a bit of septemberment that was capped on eu

hugo boss, burberry, they're all talking about the impact of china by the slowdown of the economy. we see price cuts on lvmh this morning from shares. down around 5%. bringing down the other luxury stocks, both companies reporting their own numbers over the next couple of days. >> charlotte, thanks so much for that. a big rating going on in that space in the last couple of weeks and months, of course. we had a number of barpgs from the eurozone reporting today, one of them being deutsche bank. they reported revenues of 7.6 million euros, up on the year. pretext profit fell 71% year on year. but it would have grown, of course, excluding the hit of the long-running litigation over a takeover of a bank. i do want to take a look at what the shares are doing. off of session lows, down by 6.86%. over the last year deutsche bank shares have ralgyed by a whopping 48.3%. now, what we're seeing today might be a little bit of profit-taking as well, though, if we dig deeper into the numbers, one analyst said the loss at deutsche bank was a touch higher than expected. >>> now let's hear from ja

lvmh and kering, this may be linked to the cost cutting at burberry.r concerns over left-wing coalition could mean, and including the left for the french spending and if there is any movement on the wealth tax. no word on the policy to progress. you can see some of the other big names, the direction improved for those and the banks have been sold off aggressively after macron dissolved parliament. it has been a recovery trade and that is now continuing in session today. the big question for us has been just because we had confidence in the short term, is the medium term moving for the french politics? >> that is playing into a little bit of concern in some of these stocks as you can tell those have come off those lows significantly today. is that going to be a sustained sense of positivity throughout not just today, but the rest of the week then as more clarity comes through and who the next prime minister is and all those permutations we are certainly still watching out for. >> that's all for today's show. i'm karen with arabile here in london. thank

we had an upside surprises retail sales but it's been a mixed bag, burberry had really disappointingd guidance, walmart is so into consumer, starbucks, however, the consumer is hanging. amazon makes most of the money from aws their web services. i'm wondering if amazon prime day lost a little of its luster. i'm getting a lot of text messages from wayfair, sketchers and other types of retail. i think that consumers are looking for bargains. maria: great to see you. thank you very much. >> thank you. maria: gina bolvin joined us, your morning mover is five below down in the premarket, shares of the discount market store, tumbling after the cut of the second quarter forecast, stock is plummeting 17%. also announcing ceo joel anderson will step down. kenneth bull interim ceo effective immediately, the stock is down 52% year to date. a quick break, republicans and trump arrival uniting behind the president on the second night of the republican national convention. chuck fleischmann is hear from the rnc we are live from milwaukee all week long, back in a moment. ♪ ♪ ♪ do you want to close

i'd like to look at dolce & gabbana, versace, burberry, ray-ban, persol, oakley, costa, michael kors,h lauren. (♪) what colors? sunglass hut. find every shade of you. (♪) (♪) some like them toasted. eat em how you like them. pop-tarts. ♪ crazy good. ♪ now at kohl's, freshen up your summer look and save on the latest styles for men and women during kohl's exclusive cardholder event. take up to 30% off when you use your kohl's card. no card? you still save 20%. and earn kohl's cash. kohl's. >>> hi, i'm dr. larry rudolph. at three rivers dental group, we make going to the dentist affordable. >> larry rudolph was a good dentist. he was skillful. he could be charming and friendly. but that was not really him. >> for all of larry's amazing global adventures, there was one where he sustained a pretty serious injury. and the story behind it, his friends say, seems a little bit too farfetched. >> larry's in zambia, and he says he was bitten by a crocodile. what did he tell you? >> he came to me and he said, "i caught a fish. and as i was bringing it in, i reached down to get the fish, and this

>> burberry yesterday, the level of decline and the sequential decline is what surprised people, thedon't wear a swatch but i wouldn't call that luxury. >> seiko, is this japanese? >> i'm not sure. i'm sure it's lovely, though. when you think about what we heard from lvmh, even diegio, estee lauder, i think those trends continue. i think discretionary is under pressure across the board, even here as a function of china. all we do is speculate when apple is really going to get pushed back in china. we kind of have that feeling it's possibly going on with nike, we're worried about starbucks, mcdonald's. we know the china growth trade has played itself into u.s. names, but clearly in terms of the global luxury, i think china is a bigger name and there's more to go. >> at the same time we have this talk about whether the dollar could be devalued in the new administration or not and we were talked to dave servos who said a stronger dollar makes sense. how do these dollar dynamics figure into where you want to be or avoid when you're looking at international stocks? >> if you're investing

we know what happened with burberry a week ago.tility index up 25%, standing at 18.0, at a three-month high. anything alarming to you that we're seeing at the moment? >> i think people are starting to wake up a little bit. i said in my notes, the trend is your friend. that may have broken the dam on things. this has not priced risk on equity side. 24 times on earnings and 35 plus for the nasdaq. credit spreads are historically a low range here. perhaps we have people are starting to reorient hair positions here, that maybe we've gone too far too fast sort of like last year so we should position for more risk and owning more high quality names. liz: eric, really quick, we're one week away from the dow announcement, from the fed announcement. what do you think will happen? a surprise rate hike by any chance in july? >> probably a punt until september. that is probably the most likely outcome. signaling but no action for the fed in this current month. liz: wow. big day. thank you, both of you, big voices we appreciate it, sean o'hara,

>> yeah, so, normally three-day rule, burberry doesn't apply. don't buy it. keep walking. >> dan? >> not a buyer if this google deal happens. >> guy? >> i don't have a crystal ball, but i think macy's is too cheap. >> thank you for watching thank money." "mad money" with jim cramer starts right now. >>> my mission is simple, to make you money. i'm here to level the playing field for all investors. there is always a bull market somewhere, and i promise to help you find it. "mad money" starts now. >> hey, i'm cramer. welcome to "mad money." welcome to cramerica. other people make friends. i'm just trying to make a little money. my job is not just to entertain, to educate, but to teach you, put it all in context. so call me at 1-800-743-cnbc newsom or tweet me @jimcramer. eight years ago in a moment gripped by political fever, i put a button on my soundboard that said trump stop, trump stop. after this weekend's events, looks like i have to bring it back. the extraordinary moves we saw in so many stocks today, where the nasdaq gained 0.4%. i'm not calling the election here. that's no

so we're seeing a slowing in the consumer and this is even reflected now in luxury goods, even burberryown. i'm pretty unheard of. but again, and the fed needs to cut rates to stimulate economy. i never would have thought of it that way. so here i am struggling to pay. you said credit cards right? >> and but invest in stuff which people want because there will always be rich and i could get rich if i'm not rich by investing in them buying all that fancy stuff. >> you said it perfectly. you can take my job next >> i just about to do that because i can't of our writers like you do want to do what you can afford. but okay, i'll try that. thank you, rob. starting today. all right. if you have a question or comment those members voted last september to only allow the u.s. and california state flags on school campuses in effect banning the pride flag. a seat at the oakland unified school district will be up for election to voters in november. san jose officials are using ai to identify problets and find solutions. they're already using it to ease traffic management and even find street issues

by china, we obviously, over the last couple days, saw weakness in high-end luxury names such as burberry>> this is not that. >> so, what was the -- hurt by china what? >> they couldn't stay five below. that's the problem. they were starting to kind of, like, five below. >> hurt by competition from china. >> no, it's just too expensive. they have -- >> you didn't answer the question. >> what do you think, it's a sporting goods store? like vf corp.? they sold -- >> i just want an answer, when you say they were hurt by china. >> you can't -- there's a problem. the stuff costs too much to make. so, they can't stay below five below. plus they also had the self-checkouts in the front like cvs where i still, carl, i'm hide bound. i pay. >> in-person. >> yeah, well, i use those machines. most people just, like -- >> you actually give them your money. >> yeah, there's a -- david, there's a cvs in west hampton. i have paid. and i feel like such a sucker. >> do you? same way getting on the subway every morning, i feel like, hey, i'm paying. >> you don't hop? >> no, i don't hop. i would be so -- at

. >>> a luxury letdown in retail as burberry and hugo boss warn of this consumer. >>> the regional, thein us. >>> meanwhile, not much of a reversal of yesterday. s&p is down a couple of points dow up a couple of points as well watching the ten-year. got to 414 yesterday lowest since march mike santoli is with us. are we going

hugo boss -- >> it was burberry yesterday, boss today. >> holy cow.emotely flashy is just not doing well. >> there's a look at rich month. shares down 9% in europe. cuts their earnings and sales forecast. >> china is a disaster area. i'm waiting for one ceo to come on and say china is a disaster, we've got to get out of china. i remember when procter & gamble said it and the stock got clobbered. somebody in this business has to come out and say china is a disaster and we're done with it. >> where you're exiting production or just exposure? >> exposexposure. unless you make it there -- look, apple is probably the most cherished employee other than costco. costco and apple are the best employers in china. i think the government needs employers. i think we're going to find companies saying, listen, we're moving away from china if you think trump becomes president. wow, vance hates china even more than trump. can you imagine? >> meantime, jim, brings us to cars. i want to play a bit of sound from mary barra yesterday at one of our ceo events talking about

yesterday, you had shares of burberry plunging after a first quarter performance led them to issue a8%. >> meantime, the owner of the nba's new york nims, james dolan, continues to criticize the league's revenue-sharing policies. in a letter shared with the nba's board of governors, dolan outlined his projections to a league proposal shared with owners, about how revenue from the new $74.6 billion media deal would be dispersed. nolan said it is a move towards the nba model and it would take down successful franchises and redistribute to the less successful. >> trickle-down economics? >> you know, look, he's in a big s city. having said that, my long-suffering nicks, we got a little bit farther this year. >> a lot farther this year. you have some of the best players -- >> the question is what's going to happen next year. >> they're exciting now. i bet on them now. >> now you bet on them? the first time you've done that in a long time. >> no, all year. >> 25 years later -- >> jalen. >> 25 years -- i'm literally -- when did patrick ewan retire? >> for you -- >> we're waiting. >> you skp

. >>> shares of burberry are plunging in london after the disappointing first quarter performance.store sales fell 21% in the quarter that ended in late june. that company is replacing its ceo and cut its dividend. it warned it will report an operating loss for the first half of the year. the stock right now is down 17%. the company's chairman says he expects the actions that they are taking, including cost savings, to start to deliver an improvement later this year. ceo jonathan akeroyd is stepping down effective immediately and the board named joshua schulman as its new ceo. schulman ran michael kors and coach. >>> in the meantime, let's talk about what could be a very big deal this morning. google in advanced talks to buy security firm wiz. sources saying the deal could come soon. wiz was founded in 2020 and had been eyeing an ipo as recently as may when the company was valued at $12 billion. this, of course, would be double that. wiz is a cloud security specialist that gives companies enhanced visibility into the software operations. if the deal is completed, it would be google