, i know coach is doing better, but kate spade had a big miss as well >> and kate spade has been weakor some time. basically pretty much since tapestry bought them and moved from coach to the name tapestry and became this multi-brand retailer so i think that's part of the big problem and pressure on the stock is people are wondering if kate spade can be turned around. in the beginning they said give us some time and i think there was belief it would happen and now that belief is almost gone the hand bag market in north america is relatively soft, too. so they're not playing into a really strong hand there but the trends at kate spade are not what consumers want. the online numbers are actually still pretty decent. >> kohl's always seems like it's the better performer relative to someone like macy's. they keep trading down in tandem kohl's is in strip malls, it's easier to park they have those great partnerships with malls. are they stumbling >> you're right, kelly they have been doing better, although the first quarter was pretty messy for kohl's. i think the comps were down like 3% s

now sales at tapestry's kate spade division were far worse than expected for the quarter.stors are questioning whether turn around is even possible in the near term for kate spade coach was more in line but overall north american handbag market is pretty muted tapestry is less focused on new acquisitions instead investing on its current portfolio taking a bit of a strategy shift with how it looks to grow that business going forward. >> so it's hard to make a total generalization between bricks and mortar and online. walmart is doing okay. home depot is doing okay despite the amazon threat everywhere else but it's the brands that fast na fascinate me where is the trend for brands? where is it? >> that's a really good question and i think more brands are trying to go direct to consumer and so some of the issue too is that you don't need to go to a ma macy's to get that brand you'll go right to the website nike is a great example. it's sold on nike.com but sold at macy's and kohl's we're seeing some differences. for instance, the athletic brands like a nike and underarmor are

. >> when kate spade died, you tweeted out, how many public personalities have to hang themselves before fda does -- excuse me. how many public personalities on antidepressants have to hang themselves before the fda does something. big pharma cops to what it thes and the average person stops falling for this? the tragedies keep compounding. you were implying kate spade was on antidepressants which i don't think anybody knows and isn't anybody's business. many people who are on antidepressants have had suicidal ideation long before they were taking antidepressants. >> and the fda, there is a black box warning for antidepressants. for those 25 years or younger, the thoughts of suicide are increased rather than decreased -- >> but not for people over 24. but not for people over 24. and again, just putting out a blanket tweet on the day somebody has died implying that they were on antidepressants and that's what caused their suicide, that just seems irresponsible. >> well, anderson, i could say the same thing to you given how many pharmaceutical companies advertise on your show. >> i don't k

you do seem to be implying, a, kate spade was on antidepressants.'t think we have knowledge of nor is it anybody's business. you seem to be linking in the end, famous people with antidepressants and suicide. and many people who are on antidepressants have had suicidal ideation. >> and there is a warning for people under 25 years old and younger, the risk of suicidal ideation is increased rather than decreased. do you know how many teenagers and young people -- excuse me. er do you know, andrew -- >> but not for people over 24. and again, just putting out a blanket tweet in the wake -- on the day somebody has died, implying that they were on antidepressants and that's what caused their sue sued. that just seems irresponsible. >> well, anderson, i could say the same thing to you given how many pharmaceutical companies advertise on your show. so -- >> i don't know how many do ads on my show. >> you might want to look at it. you might want to look at it. so when you say to me -- >> i'm not impacting by who advertises on my show. i don't know who adverti

. >>> andrew spade of the late kate spade bought a home in the east bay. he purchased the home in the hills near piedmont worth $3.5 million. it sits on half an acre lot. the house is nearly 4000 square feet. it has a fantastic view of the bay. french doors open up to the terrace. he made the move to the west coast following the death of his wife in 2018. >>> thank you for watching tonight at 6 pm. the cbs evening news is up next. >>> will be back here on the news at 7 pm. don't miss it. have a good night. captioning sponsored by cbs captioning sponsored by cbs >> dickerson: tonight, dorian is now a major hurricane. horida could be hit by catastrophic winds and storm surges. gas stations are running out of fuel. the national guard's been activated. we've got the latest on when and where dorian will hit. also tonight, two daughters call for justice after their father's suspicious death at a v.a. hospital, as the justice department joins the s.vestigation. breaking news: we now know the cause of death for los angeles pitcher tyler skaggs. new investigations

retailers and brands with lower exposure to chinese manufacturing liketapestry, the owner of coach and kate spadecopry holdings when owns michael coarse and jmy choo, sold off on the news. for "nightly business report", i'm courtne agan. >>> investors were not expecting to start august this way, and if history is any guide it could become trickier to navigate. bob pisani is at the new york stock exchange. th talk about a tough setup for august. market sold off today on a string of twreets from president trump signaling more tariffs are coming next month. even before today's move history has notke l kindly on august. it is the worst month for the dow and s&p since 1987. the s&p might be up 20%, but earnings are flat, making stocks lookig expensive now. trade tensions are oiously ratcheting up. there's little cla oty the global growth story in general, and a federal reserve chair jay powell made clear at his press conference yesterday, future rate cuts from the fed is not a one thing that made it easier for the bulls to stay bullish is lower interest rates. the markets are become reliant on central

resognating with shoppers those shares are higher by about 5% since they reported sales at tapestry's kate spadeivision were far worse. leading them to question whether turn around the b possible coach was in line, but the north american land bag market remains muted. those shares if i move out of the way, are down b about 15% for the week macy's is the last one that really widely missed earnings. earnings were stronger, but the quarter was week after some of the women's apparel missed just didn't resognate with shoppers they had to deeply disin order to sell it and that hit margins pretty darn hard and the stock price is down about 20%. >> ouch. in ordnordstrom is surging -- jg us now is paul, a retail analyst with a hold rating on nordstrom and $35 a price target do you share this optimism about the back end of the year >> we're whole rated and while profitability was far better than we expected in the second quarter rkts some of that was drif p by cutting costs and frankly, the company is outlining a pretty aggressive outlook in our view as it relates to the second half revenue. as courtney m

case beta tried and they cut their outlook -- kate spade a drag and they cut their outlook.e have gold higher, up 7% on the month. gold is also a hedge against fed accommodation and the volatility started after july 31. this may suggest some investors think there could be a more accommodative town going forward. other havens are doing quite well in august. we have the yen rallying, bonds , realng, and utilities estate on pace for its best month since march. investors moving away from the riskier assets and moving toward havens. david: thanks so much abigail david: thanks so much abigail doolittle. bonds continue to climb is yields fall, with the u.s. 30 year yield dipping below 2%. retail sales did terribly well. other economic indicators tell a similar story. we welcome tiffany wilding, pimco u.s. economist from newport beach, california. thank you for joining us. try to reconcile these things. it seems that the bond market is yelling in one direction. there are other indications, particularly retail sales, that seem to go the other way. me.any: thanks for having the conclu

and tiffany, 16% of their sales are generated in china with chinese consumers 15% for coach and kate spade 13% for estee lauder. >> courtney regan, thank you. >>> the fast money team shows us they are treating today's bill fall and uncertainty ahead and also ahead, how smaller individual businesses are preparing to ride out the trade war storm and core neiarnage onl street the real estate investment trust hitting a 52-week high and oflling along with the rest the market the cnbc special market in turmoil will be back in two minutes. >>> the energy sector the worst performer. here is a look at the biggest decliners among the group and energy hit hard as much as more than 6% lower. welcome back to the special report, markets in turmoil the fast money team making a lot of decisions as the market fell. melissa lee, take it away. >> traders on desk tonight, stocks of course getting hit hard today as trade turmoil slams them how should you position yourself month? b.k., what do you do >> be cautious we talk about buying protection making -- when the sun is shini shining. you can still buy protec

remember kate spade. rest her soul. used a scarf and doorknob on her bathroom door.o height whatsoever. epstein is 66-year-old man. where the indications are the older you are -- >> bones break more easily. >> in men and women. if you are doing something deliberately to do nij to your neck -- he was a large man. he was tall. he wasn't small. the weight is more serious when you lose consciousness. for those of us who have gone through knowing someone who committed suicide, you know if they really want to do it, they will do it. in this case, this is what is remarkable. there were allegedly, we may find there were cameras. but some of the other evidence is the medical examiner responsible for asking or knowing if there was video evidence of someone going in the cell? would they look at the context of the surrounding -- >> that is so important, tammy. that is so important. that is what a medical examiner has to do. it's not just the cause of death. it's all of the circumstances around whether it was enables or whether it wasn't. i want to spend a second here talking abo

tapestry, the owner of coach and kate spade down 20% today. 24% now. on weak guidance and look at macy's, lower again today by 4.5 a% with us now to discuss this, senior analyst at googenheim bob, i'll start with you what's the read through from walmart for the rest of retail >> i think walmart had a tremendous amount of momentum from the business and continue to execute well. the tougher the environment, the better position walmart is is. >> is this a a tough environment? because the retail sales report made it sound pretty strong. >> walmart's a big part of that environment and i think that they're taking share in many categories including grocery. the traffic's good their e commerce is good i think walmart's got its act together and a lot of people are being challenged by what walmart has, the successes and strategies they're in. >> what happens to the main line department stores? >> hi, kelly well they continue to struggle i think, i mean the other thing we're seeing, you ask if the consumer was healthy yes, the consumer is very healthy now. you se

shift more production into the non china factories it uses, so it's making up ground coach and kate spade parent company tapestry sources about 17% of its goods from china, but less than 5% of its handbags and shares are up about 1% today so maybe some cool er heads are prevailing >> we'll ask thank you. our next guest says the additional tariffs won't be catastrophic, but it's saying retailers could see a disruption since the holiday season is just around the corner. jerry is former hudson's based ceo. there was somie panic yesterday. was it unjustified or were we talking about major head winds for these retailers at just the wrong time >> i think the tariffs are important, but impact has been exaggerated. if you take a look at retail, start with retail. retailers will respond many have moved their supply chains they're going to go to their suppliers, go 10%, not that much they'll look to manufacture elsewhere. third thing is alter their assortments and not carry the things where they don't make as much money and the last thing they'll do is pass price increase on to consumers if they ha

a name like tapestry that owns coach and kate spade they've been pretty clear about the fact that theyssened their exposure to china. so maybe cooler heads have prevailed there with some of the investors and now that stock is higher today after selling off about 5% yesterday, when you start to realize, okay, not all of this will be equal payment. >> c.h.i.p. behip berg of levi they've brought their sourcing into the low single digits ubs has this note. who could be best positioned, nike, lulu, vfc? and who could be most challenged gap, kohl's, macy's, right makes sense. >> yes, and if you think about, it's so interesting, too i've also heard a conflicting idea about a retailer like a macy's or a kohl's they're a retailer that sell a bunch of brands. if they sell under armour or nike, there's two players involved in seeing those higher costs. it's under armour sees the higher costs and they sell it into kohl's. so maybe they split that pain and the player doesn't see it as clearly when you have two players that can absorb that cost they have to look at this on a category-by-category, an

the day designer kate spade took her life, williamson blamed antidepressants and after actor robin williamsdeath, the truth about antidepressions, helpful for some, hurtful for others linking to an article suggesting they played a role in his suicide. >> it was written by the church of scientology that doesn't belief in medicine even for serious mental illness. or psychiatry. >> anderson, if somebody is helped by an antidepressant, i'm happy for them. i have never argued anybody who is on antidepressant should get off of it. >> it worries me you seem to be sending a message raising such concerns in such a blanket way or clinical depression, you're saying you're happy for somebody if it helps them. i don't hear you saying i encourage everybody to talk with a medical provider and see if this is just a regular sadness that's understandable or -- >> well, but i -- what i would say, i'm sorry. someone who is a spiritual person is just as qualified an expert to talk about issues of deep sadness even depression. it is only been in the last few years that this idea of the medicalization of depressi

tapestry operates coach and kate spade. really, really poor outlook for macy's, similar situation. some retail, bigger department stores like nordstrom you're seeing on your screen. liz, back to you. liz: kristina, thank you very much. crazy week in the markets. a rough 24 hours. certainly for the week it is a loser. kristina pointed it out, cisco, they do networking equipment, had the worst day in six years revealing disappointing forecast for the quarter. the company announced 500 job cuts in silicon valley. today it is bouncing back slightly by 1 and 2/3%. our countdown closer not only likes cisco he is waiting for further weakness that would make him like cycso more. let's bring in t chubb. you're saying it is beaten down name more then you will like it? how much further? >> this is a name investor want to accumulate here. cisco is really well--run company with manageable debt loads. this uncertain environment with risks rising around the globe, it's a company that has thoughtful leadership moving away from the traditional hardware business you mentioned toward software and sal

its own goods there are no vendors to split the cost with like tapestry, the owner of coach and kate spadeael coarse and jimmy choo, those names sold off the retailers have been working on diversifying their supply chains outside of china for years, accelerating those plans when they can in recent months, but china is still the number one country where u.s.-sold apparel and footwear is made near 40% of u.s. apparel and 70% of footwear was made in china last year. retailers are waiting to speak on this issue. the national retail federation saying in part, quote, these additional tariffs will only threaten u.s. jobs and raise costs for american families on everyday goods, and the tariffs imposed over the past year haven't worked scott. >> yep, courtney thank you very much for that how do you want to play this >> so courtney just said -- >> destroyed. >> courtney said the gap store has no leverage over it but who has leverage walmart. walmart has leverage over suppliers. what is going to happen if the tafrs go into play on september 1st? people will preorder their stuff and order too much who

the company owns brands such as coach, kate spade.sing its fourth quarter sales target, giving disappointing first quarter revenue and profit forecasts. sales slumped 6% last quarter. sales of tapestry down to 51% in the past year, more than 19% today. largest percentage decline thsie september 2001. >>> burger king, shake shack hitting a new all time high. sun trust robinson lifting the price target to 102 from $86 per share. analysts noting the burger chain is testing new menu items, and new cooking equipment. limited time offer incentives will drive sales next year. shares are up better than 6%. >>> the "wall street journal" saying if the u.s. falls into recession it will be white house adviser peter navarro's name all over it. liz going one-on-one with peter navarro about that conversation. who's really paying theariffs and the overall health of the u.s. economy. don't miss it. audrey's on it. eating right and staying active? on it! audrey thinks she's doing all she can to manage her type 2 diabetes and heart disease, but is her t

. >>> welcome back here are some of the movers this hour shares of coach and kate spade parent company tapestry are falling after missing on fourth quarter revenue and issuing weaker than expected fourth quarter guidance their shares are down about 31% this week. >>> meanwhile, shake shack is up nearly 6% to hit a new 52-week high on a bullish call at suntrust today new menu items will give that burger chain a boost and shares of pivotal software are rising pivotal had fallen 66% over the past year as the company got hit from weakening demand for its cloud applications the shaures were back up to just about $14 today. >>> now to sue herera for a news update >> here's what's happening at this hour. democratic presidential hopeful beto o'rourke says that he has no plans to abandon his presidential bid and run for the senate he told his supporters in el paso he will continue to run for president. >> there have even been some who have suggested that i stay in texas and run for senate but that would not be good enough for this community. that would not be good enough for el paso. that would

trends. 2.75%.ck is up by a deterioration of trends at the case paint line in particular -- the kate spadee particular. nvidia having its best dig in the year after reporting second go to results that beat analyst estimates. the price target increased at morgan stanley. the analyst there said it featured unexpected good news on gaming earnings. shares are up 7.5% right now. those are some of your top calls. caroline: thank you. let's talk about the london stock exchange because it suffered a long blip today. joining us is the bloomberg news asset management reporter. >> close to two hours actually. you can imagine any traders waiting for information on pricing for things like the ftse 100, the u.k. blue-chip indexes were in trouble for that one and a half hour period. scarlet: it may only happen 1.5 hours but it probably felt longer for people. what other problems arose from this glitch? annie: it was mainly a problem for traders waiting for pricing information. it cleared up afterwards so we did not affect end of day prices or anything. but in waiting for that "that .as the problem caroli

tapestry results are down for kate spade brands. the street expect a slight gain there.nd was flat as expected the ceo is calling thenorth american backdrop challenging, and the annual forecast is being cut. the stock lost about a third of its value in a week as investors doubt that kate spade can really turn itself around anywhere in the near future. but u.s. retail sales, those grew for the fifth straight month. in fact, marking the strongest five-month growth rate since 2005-2006. when you put it all together, most say the u.s. consumer is still strong with low unemployment, rising wages and low gas prices and high confidence the consumer has financial flexibility and with lots of retail choices they can be afford to be discerning, which means not all retailers are going to be winning their favor. becky. >> thank you, court any. for a closer look apt consumer trends let's bring in jerome martis also brian nagel, senior research analyst for oppenheimer. you are taking slightly different tacks on these brian, you are looking at this as glass half full for a lot of the r

macy's had a wide misstep, so it had to deeply discount to sell it tapestry's kate spade division much worse than expected >> and general remains pewed tapestry shares have sold off fairly sharply in the last week. >> thank you, courtney >> we're not quite moving in lock step, a come the dow movers here, again for the second day in a roa road. johnson and johnson, i'm not sure if this is the start of a trend yet. i think banks are much more interesting. yields have been all over the place, at the 2/10 spread flattens, maybe invertebrae in some cases. industrials stiff off their highing. wire trying to get over about 29 2940. >> we're only 3% away from that number guys, back to you. >> bob, heart to believing the dow, as bob mentioned, is off the highs of is the session, with about 53 minutes until the closing bell a pretty nice rally going on we're also on yield loss again for about the second time in a week, this is a technical recession indicator. >> we saw it briefly we didn't see it close there last time, but we're watching a spread the fed didn't indicate that it's on the brinken

the one that's really not, tapestry, kate spade, coach, down more than 19%. that's because of a disappointing. >> office strength in sales, walmart earnings, the recession talk that's out there. even in the walmart numbers, did you see that they are dealing with trade work? my first question would be, or how long until it is a bigger issue? >> there is no question that the trait tension between the u.s. and china and having an impact and the impact is going to continue to grow, if you look at the tariffs the u.s. put in place so far, most of them haven't been directed at consumer products but we look at september and december, they will be areas where it will be harder for consumers to bear that cost. i think that's something to be worrisome on the horizon but you got to remember our economy is coming from historically strong position even if the administration did deregulation, talk about consumer spending remaining strong. unemployment is still out of your flow. we are coming from a strong position and it will take more to take things to a negative place. >

be better, obviously, if macy's had a different print and if tapestry today did not have -- >> kate spade>> revenue below >> specialty stores are doing quite bad. mall-based stores obviously terrible that macy's quarter was really a shocking, shocking quarter you also had bad execution urban outfitters has always talked about this. if you get fashion wrong, you're really finished. they got fashion wrong, inventory wrong. it was really hard to -- unfortunately, i'm going to say this really hard to do worse and yet still might have to cut your earnings that much that was a false hell. but those big box department stores are not in favor. look at nordstrom. remember nordstrom said they didn't want to pay more than $50 to be private. well, that was -- where are they nordstrom -- >> by the way, of the list of s&p names off from their 52-week high, it's in the top ten. >> oh, yeah. so is kohl's i thought kohl's cash, not being facetious, was good, but they're not every day low price. they have a really good deal with amazon where you can return goods there. that's not mattered at all you need t

>> there are so tapestry, which is a parent company of a coach and kate spade, they have been workingroduction out of china even yesterday those names were hit. i want to watch the pricing action today to see if some cooler heads prevail when we start to pay attention and wonder, wait a minute, is this name going to get hit? >> thank you. >> yes. >>> staying with retail, joined by former walmart ceo bill simon. how big is this going to be for the retail sector? >> i don't think it's as big as it would seem, at least not as big as the market is reacting to certain retailers and certain products with high china exposure could be a big deal in the short run. as courtney said, retailers have been working for a while since this whole thing started to mitigate their, code word, mitigate the cost, which means build new supply lines once they build those, i think those costs, you know, that the tariffs become irrelevant to us, but very relevant to china because 100% of the product that leaves china is gone from their economy. they have to grow 6% to 8% a year for economic and political reason

revenue fell below the street's forecast tapestry said coach was strong and kate spade did not meet expectationd it's an extremely busy day for economic data. at 8:30 eastern, we will be getting jobless claims, retail sales and productivity and industrial production. business inventories and home builder sentiment will all be out. >>> coming up, a lot more coming up we will talk about bank stocks, getting slammed, so the big question, of course, should investors be running for the hills? or are these buying opportunities? we will ask the top financial analyst right after the break. take a look again it a rue now at futures at this hour. boy, it's already been whipsawed around for us. the dow looks like it will open, 50 points lower. it's a lot better than we were literally a half an hour ago juxtaposed against if you retaliatory efforts by china we will talk about all of that when "squawk box" returns. and i know that style starts from the ground up. for a lot of teens, shoes matter. the right kicks, make the outfit. kids like to make a statement, they want that wow factor. and for parents, you