we caught up with jcpenney's boss.- with jcpenney's boss.ey's boss. we see that our customers are - that our customers are absolutely facing the headwinds of inflation and so, there's a number of things we're doing. firstly, it's offering them pre— inflation prices, so we looked at hundreds of holiday items in black friday and we are offering those at the same or lower price than last year and the other thing we are doing is helping them on the credit side. because we know that's also important to them and so starting december one and so starting december one and running through to december 24, and running through to december 2a, we are running a special promotion that is in—store only and when a customer spends more than $250 for their baskets, they will be able to have that and carry that for six months interest free. they will make six equal payments but it will be interest—free. six equal payments but it will be interest-free.— six equal payments but it will be interest-free. when you talk about those _ be interest-free. when you talk ab

we caught up with jcpenney�*s boss.ers are absolutely facing the headwinds of inflation and so, there's a number of things we're doing. firstly, it's offering them pre—inflation prices. so, we looked at hundreds of holiday items in black friday items and we are offering those at the same or lower price than last year. the other thing we are doing is helping them on the credit side. because we know that's also important to them. so, starting december one and running through to december 2a, we are running a special promotion that is in—store only and when a customer spends more than $250 for their basket, they will be able to have that and carry that for six months, interest free. they will make six equal payments but it will be interest—free. when you talk about those pre—inflation prices, who is who is absorbing the difference in cost there? because i know the prices themselves have not come down. i think one of the advantages that we have is we have a lot of really great brands that are private label brands — brands li

. >> jcpenney taking the top spot as the place to shop on black friday, with significant markdowns onifth time the chain ranks in the annual report. macy's ranking number two, and the best deals for its jewelry. >> checking out the list. >>. >> we are the people that get up to go shopping after thanksgiving, and we saw the line at jcpenney, and we said, you know, it's not worth it. >> i'm sleeping. >> thanksgiving is just a week away, and we are starting out with rain right now. we have off and on showers, and even a chance of thunderstorms for the afternoon. the rain continues in the forecast through saturday, and then we will have a chance to dry out from sunday into next week. as we see what's happening here, the storm system is still offshore. nothing really steering it, it's just cut off from any jet stream or anything that can direct it across the bay area, so it's taking its time out there and bringing in waves of rain. we had the first round of heavier rain yesterday afternoon, but as we get a closer look right now, storm ranger, our mobile doppler radar picking up on some of

jcpenney is one of the most storied brands in american retail, but it's also one of the most notable to lure shoppers back tojcpenney to make it a viable business? in september, we launched a $1 billion reinvestment, a self—funded reinvestment plan into the business. and we did that along with launching our make it count campaign. since we've done that, we've seen our organic search and our google searches have gone up significantly. we launched our early black friday event november 3—5, and we had a really strong event with a big increase in traffic in stores. so what we're seeing is the customers are realising and seeing again the value and the great items and the great brands that they can get atjcpenney, and they're coming back to shop. over the years, the black friday shopping fever has caught on all over the world. and just like in the us, uncertainty about the global economy could cast a shadow over the event. earlier, i spoke tojess tang of the consumer trend forecasting firm wgsn. she told me despite the growing popularity of online shopping, the brick and mortar, in person

guy: mark rosen, the jcpenney ceo, talking to bloomberg.esident of retail at j. lo -- at jll joins us to discuss. it feels to me as if holiday spending started weeks ago. what are we going to learn over the next few days, therefore? >> good morning and happy thanksgiving. in some ways, we saw thanksgiving spending starting in october. that tells me the u.s. consumer was looking for bargains as early as october and the halloween season. that to me also says that i am actually quite bullish on the combination of black friday and small business saturday and cyber monday. all the other retailers were saying the sales were softening, home depot talking about big-ticket items being down 5%, 6%, year-over-year, consumers are waiting for promotions. that is why people seem much better following black friday and small business saturday and cyber monday than maybe people expect. guy: i forgot small business saturday. i listened to the calls. i listen to what retailers are saying. they are telling me that inventory is tighter, that they don't have the

shery: jcpenney's ceo speaking to romaine bostick.ional retail federation says 100 82 million people are planning to shop from thanksgiving day through cyber monday. this is the most since 2017. the annual black friday/cyber monday survey polled 1200 consumers. stephen rogers is the managing director of deloitte's consumer managing center. great to have you with us. what stood out to you in this year's survey? >> i noticed several retailers reporting a drop in consumer discretionary spending. we expect this to be, as you mentioned, pre-pandemic in size. consumers are going to spend almost up to $600, which is a 13% increase, and that's over half their budget for the holidays. eight in 10 shoppers plan to spend the same or more than they said they would in september. will they be out there or staying home in the sense that they will be shopping online? >> it has really become a hybrid event, just like the jcpenney ceo mentioned. online retailers stand to do well. most shoppers, though, tell us they don't find doorbusters as appealing a

jcpenney co-ceo mark rosen is expected at 2:45 new york time. this is bloomberg. and hamas have agreed on it short truce they've agreed to release sausages in return for a four day cease-fire and a release of palestinian prisoner. bobby, for investors, how should they be viewing this? how should they be reading the views on the ground? does it pretend anything that investors should be thinking about? >> we have seen this announcement coming and we've known about it for several hours and the markets have not moved. it would seem that investors have already factored it into their calculations because we have known that a deal was in the offing. there have been signals from qatar and washington dc that this was coming. people have had time to absorb it and work it into their calculations. i can't see the markets moving in the next day or two on this deal alone. if the deal is extended and there's a potential for that to happen. if it goes beyond four days or possibility that the two sides will begin the process of a more meaningful, longer-term armistice and peace th

jcpenney, and the united states. there has been odds defined from bankruptcies.cally said, they are not actually hiking prices this time around. even though, in 2022, prices are famously sticky. do see another round of inflation, this holiday season. andrea: it is actually pretty easy, walmart talking about going into inflation. all that has gone away. rates have gone down. chinese factories are gutted to get work so they're trying to offer the best deals. i don't think we will see anymore inflation in nonfood items. it really depends on what the pound does. this the pound weakened against the dollar. -- does the pound weakened against the dollar? kriti: it's interesting you mention that, we have seen some really -- i would say controversial strength. a lot of eyebrows raised by the currency rate. sometimes the pound is more of a function of the dollar -- [laughs] -- i will ask you about that, -- i will not ask you about that. there are strengths and pressures, the gifts being bought, whatever rich people do. andrea: this simply comfortable have probably accelera

kriti: we have the jcpenney ceo on last week and he was kind of bombastic, they are not talking aboutikes at all even though they have major price hikes going into 2022. are the retailers winning out with margins or are consumers getting good deals? charlie: we know the consumer has been under a lot of strain with inflation. that was a huge concern last holiday season. i think they are looking for big discounts. our retail team fanned out across the country, to malls across the united states. kriti: i want that assignment. charlie: sounds like fun. but a lot of consumers were disappointed by discounts. the past few years, we've had inventory issues and retailers have had to cut a lot of stock because of supply chain issues. when you look at some of the numbers, adobe is expecting discounts of 35% this year and that is a record. i think the consumer might come out ahead. kriti: we are talking about the consumer coming out ahead, and the foot traffic numbers were abysmal, no one is lining up anymore but they are shopping online. does that work as a macro recession indicator when it feel

what's the rent on jcpenney? isn't it amazing they're alive? >> on amazon, thursday night football, right? >> i got to tell you, amgz is the winner here. go listen to brian, the cfo. you know, they're the antidote to -- help in aisle 5, i need some gillette shaving cream, and you're waiting, and it's like, why am i waiting? i have a subscription that just comes to the house. that's what you do. >> yes, i know. >>> when we come back, tesla shares, well short of magnificent in october. we'll talk about what elon musk is saying about the cybertruck, his comments to joe rogan about mark zuckerberg and threads. take a look at the premarket here. so many consumer-facing names to get to, including yum, brinker, caesar's, splunk, wayfair, estee lauder, match, and paycom when we return. how's the chicken? the prawns are delicious. oh, i have a shellfish allergy. one prawn. very good. did i say chicken wrong? tired of people not listening to what you want? it's truffle season! ah that's okay... never enough truffles. how much are they? it's a lot. oh oka

they say jcpenney has the best discounts overall for the fifth consecutive year.ut the top the five. gerald storch joins me now. gerald, great to see you. he is, of course, man made famous or perhaps made toys "r" us famous. i'm not sure who made who famous, but it's great to see you. you've got your finger on the pulse of retail. are people, because of all the crime in stores and err problems, are -- and other problem, are people going to be doing more online shopping this year? >> i think on balance it may shift a little bitten online, but factors you mentioned earlier were much more significant in what's going on with retail sales. the consumer spent a lot during the pandemic. they have something of a hangover from all that. they don't really need too much else, and besides, the money's running out. credit card balance are going up, delinquencies are going up. so this is going to be one of the toughest holidays in terms of growth in spending year-over-year that we've seen probably in 15 years. david: and just to put a phone t issue, 25% of americans have 2022 d

in addition, toys r us, sears, jcpenney, they have been washed through the system and right sized.re tj, you're, you know, lululemon, you're apple, your choices are actually not that plentiful. and therefore, landlords are gaining the upper hand and that's why you're seeing rent growth in a way that retail landlords haven't experienced in decades. >> alexander, it's dom. is there a difference between a traditional footprint mall, right, the free standing kind of sprawling building with the parking lots all around it, and then taking a look at, say, the strip mall, right, where there's an anchor store, outdoor focussed and whatnot, do you think there's a trend developing where the demand is at? is it in those strip malls? is it more in those traditional malls? i see some traditional malls and see a lot of empty store front. i don't see as many of those in strip malls? >> well, i'm in a hazard to guess you haven't been in roosevelt field inning on island, a simon property. stores are packed and any vacancy you see is likely to be a step over the next coming months. when you look at,

. >> and reports say retailer including jcpenney, foot locker and eddie bauer currently face lawsuitsr allegations of misleading pricing. >> a new study shows many local holiday shoppers are planning to spend way more than the national average. half of the top ten spots for spending are here in the bay area. the national average holiday budget for gifts and celebrations is more than $100. however people in palo alto plan to spend more than three times that number, almost $3,600, the most in the country. sunnyvale, milpitas. mountain view and fremont are all in the national top ten. santa clara, san mateo, union city are in the top 20. >> the holidays are starting to become alive in the city of san francisco and the fairmont hotel has been nominated for the bragging rights as one of the best hotels for the holidays by usa today released a list of the ten best hotels and the home of the life sized gingerbread house, the fairmont was on that list right now, usa today is allowing people to vote for their favorite location through the month of november. this is really cool. it's like real

recuerda visitar tu "jcpenney" mÁs cercano.in de semana. francisca: invitamos a fundadora y diseÑadora de la marca y maggie gimÉnez experta en moda y estilo y afilado desde las 7:00 de la maÑana jomari. jomari: vamos con el primer vestido que fue karol g. era como una cosa de plÁstico hecha al cuerpo. >> tÚ te acuerdas cuando lady gaga usÓ el de carne crea tambiÉn como que se veÍa. lo primero que vi dijemedio como esa vibra como feo. >> se parece un poco a kardashian ahÍ. jomari: a mÍ me dio el metro gala de 2019. un vestido que era como ella saliendo del agua. creo que va adentro. que era como ella saliendo del agua, que va con la cultura de la doble piel. no se veÍa tan exagerado. lo que pasa que es como que es tu doble piel. >> a mÍ me gustÓ. francisca: se ve divina porque es como para artista. una que tuvouna vida social metiÓ este fin de semana fue jennifer lÓpez, y harÁ mostramos este vestido negro y plateado, un evento para una fundaciÓn sin fines de lucro. >> ella casi siempre lo trae pero en este momento, ella estuvo t

jcpenney has a great deal on pajama fleece bottoms with a pair of cozy socks.e off the lip. >> becky, dude. first of all, welcome to the weather team because if you can do all this balancing on the bored, you are in. sometimes the gift cards are the best option when you are surfing the web for presents. are there any gift card deals today? >> as the great patrick swayze said in "point break," fear causes hesitation. that's never good out here when you're living on the edge and i'm on the edge, trying to hang 10 because i found 10% of roblox gift cards at target. i found $65 worth of adidas gift card that will cost you just $50. at sam's club, a $500 southwest airlines gift card costs just $400. you guys should get that. you should fly out to san diego, gma dawn patrol guide that you are on. live mas, dude. live mas. >> watching you makes me want to buy everybody a gift card. >> we got a "point break" reference. >> you are absolutely the best. i want to thank you. >> wow! >> we do have to thank surf side new york city for that amazing board thabecky was on that.

the average discount today is about 35%, with the biggest discounts at the department stores like jcpenney, macy's offering about 55%, at least as an average. as you mention, today is expected to be the busiest foot traffic day of the year. that doesn't necessarily mean it will be the biggest sales day of the year, and of course, foot traffic is less now than it used to be because of all the factors that we discussed. still, the national retail federation expects almost 131 million americans, 72% of the population, will shop somehow today, in store, online, or both. i have already started and i have carts loaded up. back to you guys. >> carts, right. same here. thank you. courtney reagan at it mall. let's continue the conversation with oliver chen, senior retail analyst. so among the names you cover, oliver, what would you say is the level of caution right now heading into this holiday season? >> yeah, the themes are right. happy holidays, by the way. this morning, we were at walmart supercenter, the first one here in louisiana. i am cautious. we tweaked down our holiday estimates to plus

lisa: that was marc rosen, the ceo of jcpenney with what to inspect going forward for the holiday seasondoing some research. it looks like about a third of people surveyed are going to use artificial intelligence and other generative ai to their shopping for them. gina: you're kidding? lisa: chatgpt and things of that nature. they wanted to use ai to search for deals and gift alternatives. hey chatgpt, what should i get my 13-year-old? gina: that makes sense. making for efficient -- make me more efficient. i would have never thought to do this but i suppose it is a natural evolution in the way we shop online. we are getting chatgpt right at the top of any search you do now. it kind of makes sense you take advantage of it. wow. it is really hitting as quickly. lisa: i think about the generational divide and people are used for taking more shortcuts when it comes to looking through things which may add to productivity. joining us to talk about the retail season ahead of us is shannon seery at wells fargo. i want to start with your expectation for a 5% gain in sales for this holiday per iod