and then there's lvmh. shareholders are set to approve the redistribution of shares at a shareholder meeting later today. let's talk a little bit more about that story and bring in stephane pedrazzi live in paris. where are you? there you are. >> hi, seema. knight nice to see you today. the shareholders today are expected to approve what was announced in september. lvmh agreed to stop their long running dispute. it lasted for four years. lvmh voted 23% stake and the fear is that the lvmh would -- of the company. now, under the terms of the agreement, lvmh is going to distribute all of its shares to the shareholders and the company announced yesterday that the shareholders would receive one share for each block of 21 lvmh shares. the main shareholder of lvmh is now expected to do exactly the same with his own shares, too, its own shareholder. if it's approved today by the shareholder, the plan will be effective on december 17th. market reaction is slightly limited because it's not really anything we didn't k

. >> we have been hearing, i'm thinking of lvmh, the parent and burberry,ci, they are all seeing a slowdownw is it a slowdown if nordstrom is not seeing it? >> single-digit growth or no growth. gucci, louis vuitton, and product have stalled. that is a combination of china slowing down, russia and ukraine creating havoc in european retail stores. ess tourists in europe. the u.s. is a bright spot because of the stock market holding us up. christopher bailey is ceo and .reative head and a lot of criticism about how much he is being paid. his $18 million pay package was rejected by shareholders this summer, causing commotion. do you think he has the right strategy, can he fill the shoes of angela ahrendts? >> it takes three things. they have the product, the people, the client service in the stories. they have the growth in many different markets. they are the most advanced digital luxury brand. that makes a difference whether you are doing social media, online advertising, digitizing the stores. they had the best strategy right now. >> they also have carried a carag -- they also have delevigne

. >> what is the spirit at lvmh right now?ocused on m&a and very active and looking to acquire new brands and acquiring new talent to take over their brands. you will see a significant amount of investing from them. >> you look at uber and it's a big thing. >> do you uber? flex constantly. my biggest problem is that you can only -- >> constantly. my biggest problem is that you at once.uber need multiple? >> constantly. >> the regular will be a flat rate. i foresee and uber 2.5 with the regular verb being a flat rate. >> there you go. what are you most thankful for on this thanksgiving? tweet us. ♪ >> if att first -- first you don't succeed, wait a couple of years. terry lundgren has hit the ball, to use the fenway park phrase, over the wall. we say congratulations, and as we have a parade tomorrow, mr. lundgren will join us on friday. he will be with us in the 7:00 hour. we really look forward to being with terry lundgren. decidesupreme court will if the obama administration went too far with new pollution rules. at issue is w

louis vuitton, lvmh one of the biggest luxury brands in the world, it's paris traded primarily, but you'vee brands that are up about 6% over the last month. so guys, maybe these are some of the leading indicators for more bullishness coming down in the economy. back to you. >> thank you. appreciate it. >>> there's a lot today taking center stage. all week long, walmart, jcpenney, kohl's, and may sis. check out this stat. 80% of companies reported so far have beaten estimates, but only 60% have actually beat sales expectations. joining us now is richard bernstein of richard f. bernstein advisers. and our guest host for the hour charles cantor. he's a managing director. we haven't spoken to you in maybe three or four weeks and we're out. we're done. but then japan did it. and we think euro will too. did any of this factor into your thinking about whether the market continues to go higher? >> i think we're more in the camp that the example is beginning to go on its own nap it doesn't need qe as would the economy in any other mid-cycle environment. >> why did it stall in recent years? why did