courtney reagan. >>> karen, for the reopening trade, would you rather retail reits or retail?retail? i guess i would rather go with retail that's a very tough would you rather, though i think what was happening in reits was happening anyway obviously the pandemic just accelerated it beyond with warp speed in that i think that will still happen after the reopen happens. people go to the mall, they do that a bunch of times, and then they go back to a slower pace of going to the mall. but i do think that retailers that reinvent themselves and have a great e-commerce business, they can hang on to that customer even if the reit can't. >> yeah. tim, it's amazing you hear the stats of how far simon has come in the past year particularly the stock price. >> amazing >> yeah. especially also rents at 98% of precovid and that in the first quarter, still had some pretty heavy covid headwinds at 95% collection relative to where they were in a pre-covid something has to give. a lot of these, think of the restructuring at gap and l brands and macy's where they don't own their property, which

i'm melissa lee, along with courtney reagan today. a midday comeback has made the numbers seem less bad. the nasdaq briefly turning positive cathie wood is selling 30% of her apple stock. will she also come to her record decision and are ev stocks running out of juice? will they rev up again "power lunch" starts right now >>> thanks, melissa. i am courtney reagan as melissa mentioned, stocks are selling off for the second straight day this time the dow is lower remember do you 35,000 we're close are to 34,000, 800 points from that 35,000 mark bob pisani has move on the stock exchange hi there, bob. >> hello there, courtney we are down but stable very interestingturnarounds have happened in the middle of the day. first issues that everybody is most concerned about is megacap tech many of these stocks, 10%, 12% off of the high, megacap has held up better it has more long-term investors who will stay with it. what's more concerning is what we see with the more spec la activity tech areas. a lot of these names you're looking at here, they

let's get to courtney reagan with the numbers >> hi, sara. it is a beat for l brands.as looking for 1.21. revenues in line at $3.02 billion. the street's consensus was $3 billion. and the company did preannounce preliminary results on may 11th. the second quarter earnings range of 80 cents to $1 is above the street's expectation at 76 cents. if you look at the comparable sales number, this is both for stars and on line in total for both brands, grew 21% in the first quarter. victoria secret leading the way with 25% comparable sales growth remember, we are comparing it to a quarter where most stores were closed last year and you could only order on line bath and body works first quarter comps up 16% and last quarter -- last year this quarter, the comp sales were up 41%. they were able to stay open because they sold hand sanitizer and soaps. the company also talking about the new cfos that will take over each of the brands upon the completion of the spinout of vic victoria's skpret. wendy articlin will be the bath and body works ceo and jim johnson will take over as vict

i'm melissa lee, along with courtney reagan today.s bad. the nasdaq briefly turning positive cathie wood is selling 30% of her apple stock. will she also come to her record decision and are ev stocks running out of juice?

what are the key themes we'll see from the results courtney reagan has the details. court? >> the key phrase that investors will listen for is pre-pandemic levels this time last year in those year over year comparisons are messy for retail because many retailers were forced to close the stores so that looks like a mess with others open and putting up record results so staple plays have been putting up the strongest comparable sale results ever not expected to continue forever but investors still want to see growth nonessential players like macy's, kohl's, trying to hang on to what they can in the discretionary categories but shares of both sharply higher. shareholders bet that consumers are back to buying dresses and thredup ceo said that mini dresses up more than 20% as a percent of sales since march formal dresses up 15% as a percent of sales sense march and canada goose ceo said they shifted from recovery from growth beyond pre-pandemic levels so the key is seeing demand normalize as the world gets back to work and life and pre-2020 more like a 2019 kind of way tyler? >>

clothing as a service company has a new take launching a borrow program today joining us is courtney reaganrow baby that i've been using. for adults am i renting new clothing if so, for how long? what happens to the clothing when i send it back? >> you might be renting new clothing or you may be renting something that's pre-worn. regardless of which case it is the clothing will always come looking and feeling brand new. directly from the castle warehouses. >> interesting so it is possible and i think this is almost a selling point. we realize the major environmental impact that the new clothing has and a push back against the fast fashion trend and some partners i believe great clothing sides i might get some used items. this is not -- stays in the ecosystem that way >> absolutely. it is a great play for sustainability allowing people to access clothing, to have fun with clothing without dipping into fast fashion and we think a critical selling point to the clothing as a service model. >> yeah. so one more question just as for how this works and the economic for the brands for instance far

back over to you. >> thank you, courtney courtney reagan.ney. the company is going to open 30 to 40 old navy and 20 to 30 athleta stores in 2021 close 75 gap and banana stores in north america and c shares up 120% as meme stocks make a comeback let's send it back to mike santoli for a look at short interest in the market. >> obviously another bout of pain for those who are short these particular stocks coming into this week part of the whole story line is target these heavily shorted stocks in general, this is not a heavily shorted market this is the median short interest of s&p 500 stocks, a percentage of market cap yes, it's up off the lows of a couple of months ago but this is very low historically. essentially there has been a little hesitancy to bet against a loft stocks out there. all else being equal it would suggest there's a little less latent buying power out there. look at heavily shorted stocks to those lightly shorted this is sector neutral, which means it's the most heavily shorted stocks in a sector against the least shorted s

courtney reagan has the big takeaways for us today court. >> hi, wilf. today's retail earnings blowing past expectations. those shares are somewhat mixed here stimulus checks definitely helped while the back half of the year is still wrought with uncertainly, retail executives have rosy outlooks walmart's sales were 6 times better than consensus. that helps those margins u.s. e-commerce is 37% and global e-commerce is 12% of walmart's total sales. >>> macy's comp sales still below first quarter 2019 when all stores were open, but the department store has seen a major shift in sales with vaccinations on the rise the ceo says the retailer is prepared to meet that growing demand >> customers are starting to re-emerge. they're going back, they're going to church, they're going out to dinner, they're going to the prom, and places where they're re-emerging, we've got the categories that are going to be right for them. >> hope depot put up u.s. comps of 30% with paint the only category growing less than 20% in the quarter the home improvement retailer said comp

courtney reagan has the numbers. >> simon property group is out with results and it is a strong beatooking for 96 cents. revenues slightly above analysts' expectations, at one point $1.5 billion the full earnings guidance is a raised range of 4.57 and the industry had been looking for 417. but that sort of encapsulates that raise we should note that the occupancy rate for the mall operator, simon property group, 90.8% at the end of march and the base minimum rent per square foot was at $56.07 that's a slight increase, 0.6% year over year ceo david simon has a quote where he talks about increase in profitability and cash flow growth, increasing sales and unleashing momentum. sales of simon propertygroup are flat to slightly higher but they were down about 1% which is about the amount they gained during the session before the results were reported. back over to you. >> courtney reagan, thanks for that. >>> up innext, transportation secretary pete buttigieg on the u.s. c$300 unemployment. >>> friday ceos discuss how companies are addressing the krvgs crisis register at cnbcevents.com/he

a bag of jelly beans at the minimum that i did not plan on overall, stacy, i heard our friend courtney reaganl star, people are buying things like teeth whitening kits and new shoes. literally ready to get back out there. what kind of trends are going to win in the next few months >> sure. macy's talking about one of their best-sellers being luggage, right everybody is ready to get out there and hit the road so you're certainly seeing this bounce back in the context of, hey, i want to travel, when can i? you're seeing dress-up clothes come back. apparel, shoes but i'd also say don't throw the pandemic trends under the bus here because you're also hearing and you heard last quarter from target and you've heard from macy's that home and all of those covid categories we talked about are as good if not accelerating so the trends are really -- the strength is across the board >> are you surprised by -- i mean, we knew the numbers would be good? but a 31% sales jump at home depot? i get it, we all want to fix up our home that is a gigantic number. the numbers, stacy, haven't even been close they've

even though the analysts are mostly positive about the results and guidance and joining us is courtney reagan and ceo james reinhart. >> thank you let's start right there where jon left off you put up a good first quarter as a public company. some analysts light wells fargo say the guidance is conservative is the guidance too conservative are you setting yourselves up for a big beat the second quarter as a public company? >> thank you for having me we are four months into the year and didn't want to get ahead of ourselves. i think the news from the cdc today is great news but i don't think we're at the point yet where we're willing to say the pandemic is totally behind us and being thoughtful about q2 and the rest of the year. >> processing time is really important part of your business. when you get clothing sent in you were at 20 weeks down to 8 weeks right now. you are hoping for 2 to 3 weeks. how do you that? speed up the process of inspecting the clothing and putting it on the platform without sacrificing the quality of the clothing you're accepting? >> we did peak at 20 weeks now down m

. >> i'm courtney reagan this is "fast money. tonig tonight, we're trading the crypto chaos bitcoin bouncing back today following another weekend of wild moves and the digital currency just took another big leap higher on the back of an elon musk tweet what else? what he said that lit a new spark. plus, we are track the afterhours action in shares of loris town motors. and later gearing up for a big week of retail earnings with a good old-fashioned game of shop it or drop it. fiend out which retail names the traders are adding to their cart we start with the rally in big tech the nasdaq jumping 1.4% today outpacing gains for the s&p and dow and closing at the highest level in two weeks the titans of tech were among the biggest win of the day, alphabet, microsoft, apple, facebook, amazon adding $160 billion in market cap today. not all stocks participated in the rally. peloton and snowflake were basically flat on the day. let's talk about it all. what do you make of the action in the high flyers today, tim? >> first of all, welcom

courtney reagan has more on the moves for us courtney >> hi there, morgan.rent than may 2020 for retail stores are open and shoppers are starting to come back. the retail etf, xrt gained 160% in a year. with strength even just the last couple days, but the biggest retail winners might surprise you. it's not the big online players or even those that consumers flock to for essentials and outfitting the homes the online retail i buy is up 7% in 2021 but down 3.5 % over the last month amazon up 45% in a year, but up less than 3% year to date. walmart down 2 % year to date. way fair is down nearly 20% this month. william sonoma gained 20% in 2021, but down more than 4 % over the last month. so let's check out some maul-based retailers i said mall. sure, they were among the most sold off, but the comeback is pretty eye opening american eagle up 380% in a year and 24 % over the last month n. an abercrombie up 80% gap 16.5% over the last month. and denim, yep, morgan, including those mom jeans and looser fits, leggings and sweat pants are being put aside with americ

. >> down 8.6% new data showing brick and mortar retailers are making a comeback courtney reagan withre, sara. so the retail recovery is in bloom. new spending data from mastercard across all payments shows the total u.s. retail sales grew more than 23% in april year over year but also 11% more than april 2019 so well before the pandemic. total spending at department stores is actually up 200% and up nearly 10% compared to april 2019 jewelry spending is even stronger home furnishishing remains up from both 2019 and 2020. in-store traffic, though, is still well below 2019 levels according to censormatic solutions. last week store traffic was more that 20% below 2019 levels it was up nearly 320% from 2020 but that makes sense because many retailers were still closed back over to you. >> any accepts that this is lasting, courtney, or how long it could last? it makes sense with things reopening and so much pent-up demand from people staying at home and being on their computers all the time, they want to go out and shop. i guess the question is for how long >> that's such an important ques

. >>> we do have some earnings to get to nordstrom and urban outfitters just out courtney reagan withloss per share than expected, $1.05 compared to 57 cents expected by the analysts revenues are slightly stronger at $3.01 billion compared to $2.9 billion their full year revenue guidance is reaffirmed at more than 25% growth, which is slightly above what the analyst community is forecasting for that same period digital sales increased 23% when you're looking at the same quarter 2020 so remember that was that first pandemic quarter and digital sales represented 46% of total sales during the quarter. that's a pretty significant number there when you're looking at the gross profit for nordstrom, it was 31%. that's a 2,000 basis point increase compared to the same period in 2020 however, a decrease of 260 basis points when compared to the same period in fiscal 2019. there is talk of a lower markdown rate, which is something we've heard from a lot of retailers still nordstrom shares down more than 4%. let's move on to urban outfitters it was a beat on both of the top and bottom line, repor

. >> -- earnings also out, courtney reagan with the results. >> looks like we have a beat for etsy onng $1 per share the street was looking for 88 cents of revenues $551 million that's above the $530 million analysts were expecting here they are giving us a second quarter revenue guidance that is the current quarter. it is above consensus. also guiding gross merchandise sales to grow between 5 and 15%, again, just in the current quarter basically saying there is so much uncertainty, it is hard to give guidance beyond that the company says consolidated gross merchandise sales, gms, was $3.1 billion that's up 132% year over year, but about in line about what the street was expecting there they do say the etsy marketplace acquired billion 16.3 million new or reactivated buyers. you can see the stock is sharply lower, i should say in afterhours, down by nearly 6.5%. we will see what they say on the call interestingly, the word mask did not come up once in the press release. before that had been a very big product sell on the marketplace earlier this year. >> now i think it is mother's day

american eagle, williams sanoma out with the results courtney reagan. >> i was a big fan of kings islandng in 2 cents above analyst estimates, revenue slightly stronger than expected. they are comparing everything here to the first quarter of 2019 not year over year 2020. so the revenue increased 89%, still the stand out. american eagle revenue increased just slightly. the total digital revenue, it looks like, increased 57%. store revenue overall was flat the u.s. stores did increase, but they did not give a number gross margin about expand, like others they're talking about higher margins due to fuller price sales and lower promotions and then you can see the shares are bouncing around after hours, but are down about 2%. let's move on to williams sa money nome ma first quarter, also on earnings and revenue an earnings beat of 2.89 adjusted compared to $1.83 estimated with slightly stronger than expected revenues of 1.75 billion. the full year revenue guidance is way above analyst estimates and the total costs, very impressive, up 40% this is compared to first quarter 2020 and the analys

courtney reagan who is having a busy morning in what is a busy week in terms of all of these retail earnings lots of coffee today big beats on the top and bottom line for walmart it upped the full year guidance forecast for earnings and revenue. i spoke to the cfo who said, quote, stimulus helped in the first quarter. because of that we increased our profit and revenue guidance and added what we are seeing right now in q-2 was part of the reasoning as well. the trends continue. bigs also said overall i think the consumer is in good shape. there's a lot of money in the system spending rates are healthy savings rate also near all-time highs. on the call, walmart executives were asked about walmart plus, the new membership program they said the number one driver of selling memberships is grocery and super center pickup and delivery so the retailer has to increase capacity to get ahead of the demand for that program. it's a program that's long-term important. walmart executives say but it's not the primary focus when there are other opportunities here in the short-term grocery share has increase

. >> courtney reagan. >> they say ugg head to toe did well. >> interesting i like the rainbow ones. verall, walmart, macy's, target, ralph lauren all beating estimates and seeing huge surges in e-commerce sales. joining us now for an exclusive interview, saks ceo. >> thanks for having me. >> now that you're running the e-commerce part of the business exclusively, tell us what you're seeing as economies do start to reopen and people do start to go back to stores. >> yeah, i think we're seeing -- first, the e-commerce business for us continues to be on fire we feel very good about it we're in a strategic pivot and so a lot of good growth from the e-commerce side. we're also seeing the customer is really from an energy standpoint responding well to everything that's going on right now, so really it's sort of a really good time for retail. >> i've been watching the xrt, the retail etf in the market and it's been down it was down today, even though the market really rallied for a third day in a row, despite these blowout reports we're getting from the retailers does it tell you, mark, tha

. >>> we've got an earnings alert on vizio courtney reagan with the details. >> hi there, sara.fter hours on the company's first report as a public company they are reporting stronger than expected revenues of $506 million. the street was looking for $484 million. up 52% year over year the actual number reported. the biggest disappointment is the smart tv shipments of 1.5 million. that was more than 100,000 shy of what the analysts were hoping for from vizio shares down now more than 6%, but had fallen as much as 10% after hours. the ipo price was $21, so holding just below $26 still above the ipo price. back over to you >> court, thanks so much for that. >>> up next, the future of virtual medicine t teladoc's ceo coming up. >>> the major averages finished well off the session lows for the nasdaq the dow was wndo 1.4%. "closing bell" right back. obsession has many names, this is ours. the lexus is. all in on the sports sedan. lease the 2021 is 300 for $369 a month for 36 months. experience amazing, at your lexus dealer. - [narrator] grubhub perks give you deals on all the food t

. >> i'm courtney reagan this is "fast money.nother weekend of wild moves and the digital currency just took another big leap higher on the back of an elon musk tweet what else? what he said that lit a new spark. plus, we are track the afterhours action in shares of loris town motors. and later gearing up for a big week o