j.c. penny's is down 43%. kohl's down. j.c. penny in the early 2000s. now the chair former ceo is speaking out saying the retail picture may not be as bad as wall street thinks alan ran neiman marcus and barney's, he joins us now. allen, it's a pleasure to have you with us. >> hi, how are you all today? >> great. >> we are par veling at the retail space this week. what can you tell us to believe it's not as bad as it seems, allen. >> well, it's all in, we go through these cycles. obviously, this has been a challenging period. it's the internet, the understanding of the millennial customer. it's the off price stores. there's a lot of different things going on here. i think the challenge -- at least from my vantage point. when you have a difficult period of time like this. it's when people come up with the best ideas. i think the department stores, everybody says, are gone. i think some may be gone. i think the challenges for those i think are still strong and there are some strong stores out there. the nordstrom's and the macy's that need to rethink who

take a look at the debt for j.c. penny, it is not being priced for bankruptcy.nd a half year maturity paper is yielding 3%, they paid down 200 million in debt this last quarter. >> you're buying the stock, telling people to own the stock because the dead situation is better. that's right. >> comps are down 3.5. the stock market is pricing for a bankruptcy that just ain't going to happen. >> you talk about the oil market, it's a supply problem. i'm going to tell you that a situation in the debt market for jc penney is a demand issue. people buy any bonds right now. the price is being priced fed lessons, which is worse. >> the last part is the headline. >>. >> you have to have a view and these companies cannot get the traffic in the door because everyone's going online, then these guys are a weaker player. >> glad you brought this up. >> specific to the company, they are doing things like the appliance sales, like the sephora store. actually, those things are working. you got to remember this, in terms of the industry, all of the players have said february was whe

what j.c.already buying in bulk or really large volumes, home textiles, sheets, for instance, on j.c. penny.com. once they started to figure that out, they realize this is a statement of a business that is coming to them already. let's make it more official. by the way, let them know we can give them mattresses, appliances, if there is a short term hotel stay, for example. you need microwaves will. it is actually an interesting idea. certainly a departure from serving consumers directly. because this is more business to business to be sure. >> right. >> i know, i love it in the sense that i don't know if you guys as well, amazon, a launch web services, hey, we don't need this extra computer power. we'll let other people use it. people are already using j.c. penny for this, why not go maxon that? >> elsewhere in retail, lowes just bought a maintenance supply company for half a billion worth which basically supplies apartment buildings. it's a similar kind of thing, we have the buying poe power t

shares of j.c.ny are higher as the company starts its liquidation sales at more than 100 underperforming stores. hey, courtney. >> hi there, scott, so this location is one of the 138 stores that they have identify ed that will close by july 31th. 883 stores though will remain after that. i went inside and took a little look around because today is the first day of the liquidation sales and i have some photos and videos to show you i shot on my phone before we were asked to leave. they are working with liquidation expert hill ko to conduct the sales and that involves looking at every store's data when it comes to their sales volume. how quickly that can sell, the categories, how long and at what price it will take to sell everything inside the store. right now, the discounts are about 40%. that's pretty typical. but they should get deeper as time goes on. all the fixtures are for sale, too. things like racks and shefling, even file cabinets from the office. there's also a sign showing shoppers where

macy's and j.c.nd sears are closing their stores, shrinking their fleet in order to capture possibilities. see if it works. >> thank you, courtney reagan. with all eyes on retail, could next week's earnings be a make or break space? what are you looking for? >> it will be clearly expectations are lows, very low. for me, coor's has been a very difficult one this year. they are a year maybe behind coach. >> that is a great example for them to fall as they could. turn around north american same store sales, that would be huge. they don't report for another two weeks. macy's, i gave up on it. it means it's probably great to own right here. but i feel like they haven't solved the problem yet. >> right. >> and i don't think for them, they're talking about real estate, monetizing real estate, i don't think that will happen in the very short term. i don't expect anything in terms of management change. i think that will be fun, a good executive there. maybe nordstrom's the best of the bunch. >> it could be se

j.c. penney stock take another big tumble. this is dramatic. not only are household names disappearing from the retail landscape, the shopping malls are emptying, fewer foot traffic, fewer anchor stores and ghost malls are popping up all over. like it or not, we're changing the way we stop and the way we live as bricks and mortar stores retreat. jn on-line shopping is taking over. amazon, that one company accounts for the retail sales and it's interesting, that news that makes headlines in the establishment media is about hatred and contempt for president trump. the news that affects your everyday life is running all the way to the back burner. stay right there. we're background to tell you about a surge in college grad salaries, a three-decade low for unemployment benefits, a surge in home buying over renting and, yes, those ghost malls. "varney & company," the friday edition, about to begin. ♪ >> he's a showboat, a grandstander. the fbi has been in turmoil. you know that, i know that, ev

the macy's, the j.c. penney, they all underestimated this country. look at amazon today. a little book seller that is cleaning up across the world. speaks to the fact that there's a brighter future ahead for those smarter, thinking outside the box. that's what we have here. >> charles, saying at this time other way. you think the success of amazon heralded the emergence of the dot-com boom and the internet boom that just exploded and the markets with it. so it can tip the other way. how do you know as a savvy investor when to follow what is a wave and distinguish the wave players? >> neil: you know, again, in the letter of 20 years ago, jeff beezos asks his employees to watch cash throw. they're monitoring mark share, innovative, doing things that are very intriguing. you also like a small the degree of doubt out there, conventional wisdom. maybe it can be a tesla, a netflix. these are two big names that everybody says will fail and they keep winning. >> neil: shelby, when you look at this, what could we be miss something the consensus says the market was off to the races

one of the names i own, deep breath, j.c. penny.some of the things they're doipg. >> still trade sns. >> one of the things they just announced yesterday is that they're going to be a b to b commerce site to put bedding and sheets and stuff to hotels. that's great idea. the basic idea, they're doing something different. zbli thought you said bedding with two ts. >> lot of the sheets and bedding at their hotels through a relationship with somebody. i guess what jim is saying maybe if more of these hotels are doing that. >> businesses are buying the sheets. take them, tie them together and climb out the window. you can't keep doing the same thing in this industry and expect to not gelt your clock cleaned. >> does that prove walmart doesn't need to beat amazon or catch up with amazon? >> no,s just need to serve their customer. their customer, not saying there's no overlap between the amazon prime customer and walmart customer, there's like 300 million people in this country and there's enough of an opportunity for both sides of that. bu

i'm not going after j.c. penney.the way, i want to pat my friend dan nathan, he made a good call. >> no way! >> but the xrt clearly failed at the 43 level. the question is when does the xrt find bottom? you have to go do january 2016 when retail got destroyed. >> i won't go. >> i think dan nathan -- did not dan call the xrt the worst chart ever? >> he told me to go chart myself. >> quick, retail trade, i'm surprised it has not bounced urban outfitters, which was a lousy quarter. you look at valuation, their inventories are back in line. hence this 19-and-a-half $20 level for trade. >> ross is interesting. >> that got beat up after t.j. maxx. they were hoping they would misguide as well. wal-mart, like i got to tell you, it scares me. i listen to the call the way their numbers. >> it scares you? 69%. they don't put numbers out there e-commerce compared to exxon, it's 10x that. it will take them a lot more than anybody is on ali baba. >> i this i the stock went up. it's a little, people are comfortable with the way the

.> when j.c.th heard about the fundraiser, he got his band together to lend a helping hand to those in need. j.c. smithband leader

look for data today on retail sales and inflation, and today earnings from j.c. penney's. the nasdaq down 13 to 6116. >>> full-time jobs may in and out be easier to get, data shows the number of parttime workers who would prefer fulltime positions fell to the lowest level in nine years. experts say that's because of a shrinking pool making it harder for companies to find job candidates. instead many firms are turning parttime jobs into fulltime positions to atrablgt more applicants. >>> jpmorgan chase says it's back online after an outage last night. customers could log into the website or mobile app, but they were not ability to transfer money or pay bills. it also showed not available where account balances should be. they apologized saying sorry for the stress and thanks for your patience. is a -- sam and chris, back to you. >> "no funds available" will freak you out. >> a flashback to college days -- oh, no,s i'm a grownup now. i do have a little bit of money. >>> actress melissa mccarthy says she feels pretty. ♪ such a pretty face ♪ such a pretty smile ♪ such a pretty

we have macy's and nordstrom's and j.c. penney and a couple others. i think that for some of them, we're still going to see some head winds there. there is some unique head winds to macy's, because, for example, tourism is down in new york. that's still happening. there are mid shifting and are they going to monetize real estate, maybe not as much as they hoped, however, bart is pretty low. i know it's up a little bit. down 60%, up a little. still makes it down a lot. so i think if you don't come into a disaster, it will probably be fine. i don't own macy's, i do own coor's, that report is a little later in the month. there is strong head winds there. the stock i think reflects a lot of head winds and the kate coach merger is good for them. >> we have this conversation about retail, why shouldn't we be actually saying, yeah, of course they're up 5% in the last month. you basically have taken the border adjustment tax out of the way. this is the shortest sector in the market, sentiment going into earnings season is lower than going into the fourth quar

retail atf thanks in part to a deluge of disappointing earnings like macy's, dick's nordstrom's, j.c.enney falling double digits. wal-mart is up 5%. could these names like these be bargain basement buys? >> i think they could. you mention wal-mart. their performance up 14% of the year is double that of the s&p 500. it's obviously pretty impressive, especially relative to the xrt down 7%, though, target, to me, i think there is a couple seismic shifts going on in retail. i think it's important to remember that last year in 2016. they had 5.5 trillion in retail sales. you say it's a wrecking ball. there are other things going on there, too. amazon had probably less than $100 billion in u.s. retail sales. amazon up so much, obviously, wal-mart's participating. target could be one of these names. i think a lot of other stocks, department stores, retailers, they're down an awful lot. it's a tough trade. i think there is probably good fundamental ideas out there. >> the biggest distinction between the targets and the wal-marts of the world versus some of the department stores you are talkin

that really pulled down the entire sector and we have more grim news from nordstrom and j.c.enney today. shares continue to slide. malls are not seeing people coming through and more people get used to online shopping. it's a big problem for not only malls but brick and mortar. consumer prices rose higher than april up by 2.2% over the past year. higher gas prices the big reason for that. it's also a range that the fed would raise rates again at its june meeting. stock market is lower. down about 40 points. nasdaq down 3. stock lost 20% yesterday and has 1% back in the early going today. >>> we know the court case for uber will be public. a federal judge denied the company's request to move the case into private arbitration. the judge also referred the case to the u.s. attorney. he called for a criminal investigation into trade secrets. uber's competition "waymo" filed the lawsuit claiming uber used some of their information to build their self-driving car systems. >>> prices down at the pump but it may be hard to notice the downward trend in the bay area. drivers in san fran

stay strong, j.c ( laughter ) the movie "marley and me" is not filled with satanic imagery meant to makes of reproductive age think that they're golden retrievers so they will have themselves spade and neutered. and i am especially sorry to the good people at breakstone cottage cheese, okay. i said that they were colluding with the u.s. geological survey to conceal listening devices at the bottom of each and every delicious tub, okay. but as i have learned, as you can see, there is nothing in here. there's no listening device. just sweet-- mmm-- creamy kurds, okay. also, in case of permanent windburn. it makes the most amazing, most soothing shaving cream you can imagine. look at that. like shaving a baby. if you're going to shave your baby-- which i highly recommend rm-- do not use anything by the jerkins corporation, jerkins has a listening device right in the pump handle and the only way to destroy the listening device is with your stomach enzymes. wooooo! i can see forever! ( laughter ) brain fight, brought to you by casper-- not the internet mattress company. i'm talking about the a

but from the doesn't that stink file, when the store so sears, macy's, j.c.adio shack, payless shoes are a few retailers shuttering some stores this year. if you don't know what company is behind the warranty you bought and you need it, you might say doesn't it that stink? keep a paper trail of warranties so you know who to call if the store closes. the prices are negotiator. if it's a store that might not be in business in a year look elsewhere for coverage so you don't waste your money. john matarese, abc7 news. larry: lights flashing, sirens blaring and the a.m. rush put on home by an ambulance chase. the wild ride from start to finish. close call. >> mayday, mayday, mayday. collapse. possible firefighters trapped. larry: students lose almost everything in a devastating fire and why one is saying thank you to the university. that's a wrap! regulars queue up on k street for one last meal from a lunchtime pioneer. announcer: "abc7 news at alison: we start right now on storm watch. warnings start to pop up in the area today. this is 95 just south of frederick

.> when j.c.h heard about the fundraiser, he got his band together to lend a helping hand to those in need. j.c. smithband leadera compassionate gesture with a blues back beat.i'm jeff bush in san jose, kron four news. ( james ) now to baseballl. the giants have been red hot laetly. they took on the dodgers looking for their 5th straight win. let's go ahead and jump to the 4th inning now. that's where giants first baseman brandon belt blasts a solo shot of rich hill. giving the giants a 1 to nothing lead. it was belts 8th homer of the year. the dodgers would tie the game in the 6th with a chris taylor sol

on the other hand, so is tony bennett or diana ross or a j.c. fogerty.er it's entertainment, shopping, i mean, i think if you take a look at the strip, starting with our hotel and movering all the way down the sidewalk, every major designer and retail boutique or offering is here. every major chefs and restaurant is in this town. when i came as a young man, when i was 25 years old and came here in '68, i never could have imagined that las vegas would become what it has and it's unlikely in the next 20 years that any city in the world will ever compete with las vegas in terms of the multiplicity, the depth of the offering. >> i want to ask you in terms of the tone in this town, have things been different since president trump has been elected? and i have a couple interesting fact in the first quarter earnings report, the convention business the trends are very solid through 2019. the average daily rate at a wynn property in the first quarter was $13r50e7b, which is t315 in is there a greater optimistic among business, among tourists? >> the answer is abso

kohl's, j.c., sears, retail companies employ one in ten americans and that industry shed tens of thousands of workers in recent months. so that has been a part of the jobs mark that been very important to watch here. >> all right. stephen colbert taking on president trump after the president took aim at the "late night" host. >> oh, no. oh, no. oh please don't make me trend on twitter again. >> colbert-trump trolling when "early start" continues. this mother's day create a gift from the heart that could only come from the pandora boutique at jared. a world of pandora... including exclusive pieces designed just for jared. ready to be mixed, matched and stacked with help from jared's own pandora expert. the one gift that speaks volumes, you'll both treasure forever. that's why he went to jared. listen up, heart disease.) you too, unnecessary er visits. and hey, unmanaged depression, don't get too comfortable. we're talking to you, cost inefficiencies and data without insights. and fragmented care- s

if i want to take a fly around on the company, i will take a fly around on j.c. joins us with the action. >> reporter: hi there wal-mart is implying about a 2.9% move. that's larger than the 2.7% average. three times the volume trading today. most of the opening acisttist was occuring in the 73 puts that expires this friday. they were paying 75 cents more than 100 happened, those are bets that i could fall, maybe that stocks did fall today on target strength. >> that would be a decline of 3% by the end of the week. >> check out friday at 5:30 eastern time. coming up next the final trades. stay tuned. i'm here at the td ameritrade trader offices. steve, other than making me move stuff, what are you working on? let me show you. okay. our thinkorswim trading platform aggregates all the options data you need in one place and lets you visualize that information for any options series. okay, cool. hang on a second. you can even see the anticipated range of a stock expecting earnings. impressive... what's up, tim. see options data like never before. with thinkorswim onl

our data partners at kensho show within five days, nordstrom and j.c. pennew also falls hard. target also drops. the s&p retail sector falls 2% within five days after a big macy's drop. my business was built with passion... but i keep it growing by making every dollar count. that's why i have the spark cash card from capital one. with it, i earn unlimited 2% cash back on all of my purchasing. and that unlimited 2% cash back from spark means thousands of dollars each year going back into my business... which adds fuel to my bottom line. what's in your wallet? what?pony neighing] hey gary. oh. what's with the dog-sized horse? i'm crazy stressed trying to figure out this complex trade so i brought in my comfort pony, warren, to help me deal. isn't that right warren? well, you could get support from thinkorswim's in-app chat. it lets you chat and share your screen directly with a live person right from the app, so you don't need a comfort pony. oh, so what about my motivational meerkat? in-app chat on thinkorswim. only at td ameritrade. did you know slow internet can actually hold

j.c. penney stores have touched a record low. $4.17. cyber security stocks, a lot of them gaining today after a worldwide cyber attack continues and the numbers are staggering. 150 countries, 200,000 people, and tracy is with us, with more. tracy, it's mind-boggling. this seems like it's just one of the most massive attacks i've heard of it. >> it really is and it looks like it will continue to grow. now, you saw on that map. france, usa, brazil, spain, turkey, the list of countries just keeps growing. now, as many people are headed towards today. even more people could be affected. there could be another wave of cyber attacks. and this time maybe not even a kill switch to stop it and the ransomware appears to exploit the vulnerability within microsoft windows reportedly reported by the nsa and there vulnerability stolen from the nsa has affected customers around the world repeatedly in the hands of governments, leaked into the public domain and caused widespread damage. >> it's $300 to $600 in bit coins. charles: and some kid living wi

. >> crime lab lieutenant j.c.ith a british .303 rifle. >> it was a 7.65 mauser. >> a high-powered army or japanese rifle. >> a .3030 rifle. >> much of the first things you hear are going to be wrong and to some degree you were constantly trying to separate out what seemed to be a fact. >> dallas, a plas dallas policeman just a short while ago was shot and killed while chasing a system. suspect. >> j.d. tippit was shot three times in the chest in the oak cliff section of dallas. then the manager of a shoe store saw the suspect walk into the texas theater. >> someone has been arrested in one of the downtown theaters. they don't know if it was the man who shot the policeman, or the person who actually shot president kennedy. >> police suddenly jumped this man and dragged him out of the theater. as the crowd started to break they grabbed this man and tried to run with him. they shouted "murder" and the officers hustled him into the car and ran away just as fast as they could. >> as we mentioned a short while ago a num

buy a sears or j.c. jcpenney. >> i don't want to say anything about sears. >> it's our fault. >> it's your fault. >> it's my fault. >> it's yours? >> why, because i had like 100 bad experiences. no, i didn't. let's be fair. what happens is you go to sears and it's just -- it's a -- >> why does it exist? >> i think when most people hear cod ma or d mall. they argue a fifth of all malls will be closed or repurposed, in 10 years, a fifth. >> i wouldn't be shocked. when you look at jpmorgajpmorga talking about the slow bleed. it doesn't happen overnight. there's lots of leases. steve roth has a fantastic analysis of having a good mix of blocks where he just says, listen, let's not forget. if you have a great location and a jcpenney, he doesn't say this. if one of his tenants goes, someone wants to fill that space. those are experiential in itself. manhattan is experiential. queens not as experiential. sorry. >> okay. no offense. >> i mean, maybe if you put a staud yum in a mall in queens and you pick the num

we will hear from a former ceo j.c. department store, later, twitter says they have a way to make it easier for the white house.

in a half hour you'll see j.c. penney stock take another big tumble. this is dramatic. the retail landscape, the shopping malls are emptying, fewer foot traffic, fewer anchor stores and ghost malls are popping up all over. like it o