can macy's new ceo turn around the iconic department store? >>> a changing of the guard at macy's. the chain has a new chief ex executive. retailer.ver at a difficult courtney reagan tells us who he is and what his plans are for the deep root ed american company! today on his 65th birthday, terry lundgren's tenure comes to a close. as 55-year-old jeff gannett moves into the suite. gannett has been with macy's his entire career starting in the executive training program in 1983. he was elevated to president and heir apparent three years ago. while most say he is ready and right for the job, e he inherits the store at a difficult time. macy's shares have lost half their value in the last two years as comparable sales have fallen for eight straight quarters and the retailer is also closing 100 stores as traffic falls at many of its locations and in malls. >> i think jeff in general needs to really think about several factors. the rise of off price and how do they compete against tj max, ross stores and others. we need more people to go to the mall. more physical traffic. that's a big

this is a 71 year tradition for macy's. macy's in san francisco, chicago and new york are the only ones doing the flower show. the theme is carnival. you see the lights and some of the carnival themed displays incorporated into the flower displays. jennifer bowman is the store manager for macy's union square. thanks for talking to us this morning. tell us about the tradition. a lot of people don't know that macy's has a flower show. >> this started 71 years ago as a simple fragrance promotion. it evolved into what you see today. it's in three of the locations across the country. it doesn't look the same in all three locations. our visual team custom mizes it to the location. this is a prodigy of their creativity. >> what is entailed in this display. how many flowers are we talking about? let's show you the flower displays live. how many are we talking about? >> we are talking about over a million flowers and plants, over 150 species and seven different types of trees. >> what headquarter the special events that go with it?

. >> this is the best store better than macy's.jcpenney.>> richmond is one of 138 stores that will liquidate in april and close in june affecting 5000 plus employees nationwide a growing trend for large brick and mortar department stores that are quickly becoming obsolete. >> wow i didn't know that. >> the parking lot here is empty. besides jcpenney, sears kmart macy's and staples are also shutting down 356 stores. and causing all retailers leaving customers with less choices. >> i am kind of surprised. it was more convenient for us but now everything is shutting down. >> shopping malls depend on department stores to bring business hilltop already has a number of vacancies and i will likely go up. >> i wouldn't be surprised if macy's is the next one to close and then the whole mall goes. >> online sellers like amazon are eating up the malls grossing $136 billion in 2016. trendier malls like the bay street in emeryville are moving people from the old-school anchor malls to smaller hit stores surrounding buying -- by restaurants a mo

thirty plus 20 then ooh use your macy's card additional 10%. >> you have the macy ' cards, too?e racking it up. >> just to save. but then they get you on the interest. >> i'm always careful. >> i don't want another credit cards. i'll wait. but you like it? >> oh, ya, ya. >> you're a macy's guy? i look for the coupons. aren't awe coupon person? >> i do all. that will i don't like the ones i have to hold. if i can look it up on my fold. >> i'll hold it, in my phone, on my pocket, on my key with mei ep phone. >> already learned ihot. y. how many roams of tissue >> i nothing wrong with, that got to >> ulti together? >> yes. ingredient in this cake. e birthdayt we can expect to see in this at 9:30. >> testing. >> testing. >> testing. >> testing. fios is not cable. we're wired differently. maybe that's why we've been ranked highest in customer satisfaction by jd power 4 years in a row. and now you can love fios too. get 150 meg internet, tv and phone. all for $79.99 per month, for the first year with a two-year agreement. it's the only internet with equal upload and download speeds. c

you can see macy's shares falling 4%. shares not a reacting as much as.down somewhat on the day as well in canadian trading. it looks like they are off by 2% . macy's shares have not already been trading as if the deal would happen. they are off considerably over the past three months or so. this may not be shocking to investors, nevertheless we are seeing stock reaction. mark: the most acclaimed x-men movie to date, logan debuts this weekend, saying farewell to the wed hugh jackman. franchise is delivering the best box office sales according to box officepro.com. what will happen with the x-men franchise after his departure? joining us into a deep dive into the movie "logan" from san francisco, i have seen every one of them. i have every single one of them. miss, butit and logan goes out on a high. critics love it. it will make a ton of money. what does fox do next? >> it is a very different movie than some of the ones you are accustomed to seeing. i'm sure you have seen the trailer sent you are such a fan. it in a dusty locale in texas. wolverine is a v

two days later macy's employees at the montgomery mall in bethesda caught him shop liting again. but this time the police caught him. aspen hill resident says wheaton is turning dangerous. last sumer a girl was molested at the target store. in january two men were murdered in front of hollister. >> the homicide that just happened i feel unsafe around here. >> he says he beat the macy's employee because he didn't feel like going to jail. the man is out on bond awaiting trial. kevin lewis, abc7 news. back to consumer alert. another shakeup at uber. the company president quit after six months on the job. jeff jones was uber second in command. he decided to leave after uber announced it would hire a chief operating office. several other executives have left following a strung of controversies. michelle: well, "sesame street" has a new muppet. alison: look at julia. she has autism. she is making her tv debut next month. the show's creator says they hope julia will help children better understand playmates with autism. jonathan: well, tom brady is getting his stolen jersey back. the nf

. >> reporter: other flagship stores here like macy's own the

but macy's is really, when you go into macy's, it's got to be a little more different.ing able to differentiate. i don't want to writeoff macy's instantly, but i do think that you are in the mall with some same-store stuff. pvh by the way very big client. they do a lot with macy's, but pvh was saved by international. macy's is a tough one now that they're no longer have an agitator and saying real estate's worth more than the store. perfume by the way is big margin for macy's, just so we know. >> intel will be our biggest dow gainer. i guess that's the micron halo at work. >> well, i mean, intel -- mobileye, a lot of people don't like that deal. i think they're wrong. you've got to be in autonomous. i am a big bryan krzanich believer, he's the ceo. they raised the dividend. don't give up on intel. don't give up on brian krzanich. he's too good. by the way he's an intellectual. he said there's only a 27% chance that i am kind of, you know, a hologram. >> people write in why is cramer so pumped up today? >> busy day. >> is it because health care might not be on our plate?

macy's trading at levels not seen since 2011. bringing in courtney, starting with you, courtney, so lungren, putting that aside, how did the stock do under him? can he be proud? >> so under terry's ceo, the stock gained 100%. he can be proud of that. accounts for the 56% lost in the last two years. things went well under mr. lundgren, huge accusation in 2005 swelling sales to the level around which they are today. those increased 70%. >> oliver chen, you know, what annists and what investorsment to know, what have you done for me lately, and what does he have to do? >> there's a lot of issues. three main issues, slowing mall traffic, getting people in the stores, secondly, the rise of amazon as well as offprice, and, thirdly, i would say the consumer has fundamentally changed. customers expect the need for speed, and the way they shopt, they want goods immediately. also, fashions have been changing so rapidly, that macy's needs to focus on the supply chain as well as getting products to customers very quickly. so there are a lot

wal-mart, macy's, home depot. so -- and you see retailers investing in their ecommerce business because they know that's where their consumers are going. but if you look at department of commerce data, what cure going to see is -- what you're going to see is an inaccurate reflection of how the consumer is shopping today, because what they're doing is they're taking macy's store sales and putting it into department store and they're taking macy's ecommerce sales, which are growing at a much faster rate for the company and where the company is investing, and putting it in the ecommerce category. that's a problem because if you look at department sale stores over time, without understanding the context of the industry, what you'd say is, whoa, the department store sector's really struggling. but look at ecommerce. that's where we need to invest. go to amazon. what's really happen something macy's is saying, look, i don't care where you shop at macy's, whether it's dot-com or in our stores, as long as you shop with us

to have it. >> lift it up, awesome. >> reporter: for chris, who has had many surgeries before macy, het has been very easy comparatively. >> reporter: while chris had a rare condition, macy procedure could be used to treat cartilage loss from acl injuries, and early on set arthritis. recovery associated with macy is longer with other intervention, about a year with patients to get back to most activities and 18 months for higher impact sports. most insurance company do cover this surgery. i'm stephanie stahl, cbs-3 "eyewitness news". >> that is amazing. >>> more science and technology news for you some cool technology updates on the battleship new jersey. >> historic battleship is getting more energy efficient, interior improvements including removing old fluorescent bulbs for led light fixtures, the heating is getting upgraded from a electric system to a natural gas fueled boiler. it is part of the 1.4 million-dollar project to bring the popular museum and memorial in the 21st century. >> we are expecting that the lighting project will reduce our lighting cost between 23rd and three-q

macy's is a textbook example.mmer they announces the impending closure of 100 stores and they're hardly alone here. how does a kimco or simon property group or federal realty find someone to lease all the space now that they have anchor tenants scaling back hugely? well, in many cases they've diversified, added dollar stores in some cases, grocery stores in others. certainly service retailers. but you know what? here's the problem. there's only so many of them to go around. even worse, we've witnessed a ton of retail bankruptcies in the past year, sports authority, government smith, limited, wet seal, american apparel. more lost tenants for the mall and shopping center reits. now we've got this year's holding situation, which has been closing lots of sears and kmart locations saying there's substantial doubt about ability to stay in business. as of januar sure, some of these reits may be eager to say good-bye to a loser like sears which tends to have very low rents, but at a certain point, there are so many doors

they have 400 more locations than macy's which is closing stores. but like target, kohl's thinks smaller stores are a better solution. >> they've come down so we have to acknowledge that fact. open smaller stores and lean on technology a lot to make the experience better of. >> we'll have brick and mortar. there will be survivors. they'll adopt the technology. they'll get smaller. they won't have what they used to have. >> while no one knows what retail will look leak in the future, he have one here is convinced it won't look like it does today. in las vegas, nevada. >> walmart wants technology to be a bigger part of its strategy. they are launching a tech incubator in silicon valley so kit identify changes will reshape the industry in the years to come. they said current focus will be on virtual reality and automated delivery. walmart has been overhauling to it better challenge amazon. >>> marriott international has big plans. they want to expand and buy a lot and sell you more than a hotel room. many rivals are doing the same. why the industry wan

a lot of the stores like macy's and sears, these are anchor stores. a lot of malls are dying a slow death. >> yes it's interesting. a lot of people feel like malls have always been there. malls are relatively new. we've had shopping areas. main street, so to speak. but malls are relatively new. i don't think that for the most part, as they are today they are satisfying the consumer knee. malls have to be a little bit more like main street used to be. where there is a variety of act pity. there are other reasons to go there besides shopping. he goes back to the idea that just going to the mall used to be exciting and cool. but it's over time now. >> is this a millennial thing ? or are we guilty of turning our backs on the retail stores ? mac i think it is all generations. millennial's really like brick- and-mortar stores more than older generations do. they are more curious about looking at things. it's our younger consumers that are keeping malls alive. but everyone's use of technology has changed. attention spans are shorter. the tolerance for things

in avery, macy jenkins, kpix5. >> this is something we are not used to hearing in the bay area. san francisco home prices are falling. they have dropped almost 14% since hitting an all-time high last april. that is because overall, single family home sales hit a five- year low last month according to the multiple listing service. >>> if you have ever thought of leaving the bay area y because of our sky high prices, you are not alone. betty yu has a look at eye opening new numbers tonight. >> reporter: among the people in the bay area thinking about leaving the next few years, those here in santa clara county, home to silicon valley. came out on top with the highest number of people thinking about getting a new address outside the bay area. >> it is too expensive. too expensive. to have a normal life. >> reporter: two of the top reasons a growing number of bay area residents want to leave, according to a newly released annual survey from the bay area council. an advocacy organization. 40% of those polled are looking to less expensive pastures. 46% are millennials. people ages 18-

santa klaus of macy's. >> yeah, not a good performance there for starboard macy's. they initiated that position not along before jim and i did a panel in which jeff smith came for delivering alpha. >> yeah. >> they didn't deliver any alpha. stock went up after that of course. they were pushing for a significant split of the company, trying to monetize and realize a lot of the value in its real estate. that has not really happened though macy's hired a very capable guy to run real estate and to do certain things. they didn't get obviously what they were really looking for, which was the big kahuna of the 34th street location and what you conceivably could do there and how you could -- they're not engaged in any talks with hudson bay, which has moved onto try to see what it can figure out in terms of structure with neiman marcus who knows, but yeah, that was bad. >> that was what? >> that was a bad investment. >> yes, bad. >> activists make plenty of bad ones. comes back to stock picking. >> i sold macy's bonds when i was at goldman sachs. even though i was at goldman

sears, macy's, staples shutting down a combined 376 stores. is closing all their retail stores. leaving customers with less choices. >> it is more convenient for us. but now that we are here, wow, everything is shutting down. >> reporter: shopping malls depend on large department stores to bring business to their smaller tenants. hilltop has a number of vacancies. that'll likely go up now j.c. penneys is leaving. >> i wouldn't be surprised if macy's would be the next one to close and then the whole mall goes and you know how that goes. condos here. >> reporter: online sellers like amazon are eating up the malls. grossing $136 billion in 2016. trendier malls are moving people away from the old school anchor malls to smaller hip stores surrounded by named restaurants, a movie theater, and a hotel. it's a whole different experience. >> i think this will be a little better when you have a nice day to stroll along. people are wanting to be a little more outdoors. >> reporter: frank mallicoat ktvu fox 2 news. >>> on wall street stocks had another wi

g-3 announced a partnership with macy's, where macy's will become the sluicive retailer of the donna karen line. >>> that wasn't enough for investors. they focused on the weak guidance numbers, sending shares down 14% to $19.69. dow chemical and dupont said they had received conditional approval from the european commission for their proposed $77 billion merger. the chemical company said it is a significant step towards completing the deal. after which the plan is to spin off into three independent publicly traded companies. the deal still needs u.s. approval. dow chemical up 1.5% to 6402. dupont up nearly the same to 8058. >>> sealed air is selling the cleaning products business. the maker of bubble wrap said collectively, the division's being sold, and will continue to employ nearly 9,000 people. shares of sealed air fell 2.5% to $43.55. >>> the decline in home ownership may have something to do with the sluggish economic recovery. a new study suggests that the slowdown in home construction activity took a $300 billion toll on the economy last year. according to "the wall street jo

traditional brick and mortar stores and ought of the ten cities have traditional stows, walmart, macy's, home depot and they now their consumers are going there but if you look the department of congress data you see an inaccurate reflex how the -- reflection how the consumer is shopping but a that's take macy's store sales and put in department store and the macy ecome sales and putting it in the ecommerce category if you look at department store sales you would say, well, the department store sector is struggling, but ecommerce, that's where we need to invest. go to amazon. macyry is says i don't care where you shop, whether dot calm or us. -- dotcome we need to under how to reflect the changing consumer spending behavior with what is happening today to better understand what is happening with the ecommerce, to better understand what happening with the consumer. >> that's fascinating. didn't know that. i'll add my own. huge gaps in dat about higher education. it's remarkable what we don't know about higher education, it's an important economic growth. taxpayer funs it to a great degre

. >>> plus, the annual macy's flower show in san francisco is now underway. we'll take you inside this very colorful and special display at union square. >>> you can see here the resort is underway. the roadway literally got washed out. e -- and such as stub hub. it is a problem more fans are facing. one woman spent hundreds of dollars trying to take her 6- year-old son to see his favorite player. when the warriors played in atlanta recently and now after learning about the family's story of the bad tickets, well the warriors have stepped in to help. it's all part of the team's stop fraud theme that took place tonight. and rob malcolm has the details now from oracle. >> reporter: with wide eyes, 6- year-old isaiah simpson watched his warriors shoot around. he has this to say about the famous tunnel shot. the warriors invited the family from georgia to oracle arena, a special gift for stop fraud night after tickets they bought turned out to be fake. >> we see about 40 to 50 tickets a game and they come back because they didn't scan. >> the bad bounce for the f

what is really happening is macy's is saying i don't care where you shop at macy's as long as you shop with us. from our perspective we understand why it was done this way in 1995 before the internet but we need to better understand and think about how to reflect the changing consumer spending behavior with what is happening today to better understand what is happening with the economy and better understand what is happening with the consumer and a better plan for the future. >> that is fascinating. there are huge gaps in data about higher education. i think it is remarkable what we don't know about higher education. taxpayer funds to a great degree and if you have a kid going to college and you want to look at what is learned at any given college, good luck. if you want to know what the graduation rate is even that is difficult because the way we calculate brown. and that's data that we couldn't have had before. so one thing that is i think really important in this era of big data is that the government continues to allow researchers access to data like that because it leads to enormo

macy's ceo tony lundgren is stepping into the role of executive chairman as macy's and other retailersn this transition. hi, courtney. >> hi. good morning, mike. today on his 65th birthday, terry lundgren's tenure as macy's ceo comes to a close. while shares have been under pressure recently, their stock increased 100% under lundgren and sales grew 67%, helping a lift from the 2005 acquisition of may department stores. now, 55-year-old jeff gennette moves into the "c" suite. he's been in macy's his entire career, starting in 1983. he was elevated to president three years ago, part of the succession planning, gennette, like lundgren, is a merchant at his core. and while everyone i speak to say he's reeight for the job, cp sales have been down eight straight quarters, the department stores are closing 100 stores and shares have shed 56% in the last two years. starboard value recently exited its stake in the retailer. gennette still thinks the stores are relevant, calling them pillars of the community but notes the challenges making them contemporary. so, part of his plan includes designa

este lauder gets business from macy's, a chain -- kind of intellectual here. they say that the macy's store rationalization plan could only turn out to be a positive for t etse lauder, the stores seem to be closinga carried high costs, including selling space and trained beauty salespeople. and este lauder covered some of those costs themselves. by closing stores you're getting rid of meager sales. jpmorgan says that the weakness in department stores can be offset by the specialty department stores. like ultra beauty, who made a gigantic deal with este lauder to launch the mac brand on its website, suddenly you can give the u.s. brand a real boost, because i think it's going to go national. right now este lauder gets 30% of its sales from emerging markets and analysts believe that these new market will grow faster than the rise in the global middle class. this is happening faster than most people realize, that's why people are buying fancy makeup in places they weren't. the company does have some of the highest sales, general and administrative expenses in thi

this after it was record the company was interested in macy's.re sector. >> niemann marcus has been struggling with the debt burden. they tried to go public. this is more of a motivated seller in hudson's. >> this is chart that serve talking about. >> this is year over year. from bank of america sources. this is by tracking debit and credit card satisfies so this is their own data, look at this drop. so the first two things. this has been below zero for most of the last couple of years. year over year declines, pretty much consistently for two years at least. then you have this big spike down which is january to february. what we don't know is how much of this is structural and how much is cooling off of consumer spending. we've talked about the delayed in tax refunds. so this is a one-time thing. >> that would be the best possible story. if it is that, this could come popping right back up. if not, you have to look at the 15ers and wonder is this the month the department stores ended. >> it went from gradually to suddenly. i don't know if there'

it is better than macy's. i love jcpenney. >> reporter: richman is one of 138 stores that will liquidate in april and close in june. it will affect 5000+ employees nationwide. it is a growing trend for large brick-and-mortar department stores that are quickly becoming obsolete. >> and here is more proof the parking lot -- empty. besides jcpenney's sears kmart macy's and staples are also shutting down a combined 356 stores. the limited is closing all of their retailers. leaving customers with less choices. >> i'm surprised -- it is more convenient for us. everything is shutting down.>> reporter: shopping malls the pen or department stores to bring business. hilltop has a number of vacancies. that will likely go up now that jcpenney is leaving. >> i would not be surprised if macy's would be the next one to close. this whole mall is meant condos here. >> online sellers are eating up the malls. the e-commerce giant rose 136,000,000,000 in 2016. tregear malls like the bay street in emeryville and moving people away

macy's shares pulling back by 4%. kohl's and nordstrom also lower. taking a look at the u.s. dollar, we are seeing an increase of .1%. if you look at the recent rebound we have seen in the u.s. thear, folks anticipating fed raising rates on march 15. we have still seen a decent amount of folks betting on a continuing decline in the u.s. dollar. we have a chart of the dollar in white thing we have seen a little bit of a rebound from the lows. at the same time, longs on the dollar have been going down. they continue to go down even as the dollar is trending back up. vonnie: thank you for that detailed report. now for a look at our other top stories of the day, let's check in on the first word news desk with mark crumpton. huge reducing america's trade deficits would deliver stronger economic growth and improve national security. that assessment from white house trade advisor. he argued that china and other trading partners use the proceeds from export sales to buy u.s. companies and technology, reducing america's self-reliance. a house of lords study warns british prime ministe

injuries and early arthritis. >> look it up. >> reporter: for chris who had many surgeries before macy was almost a breeze. >> it's been very easy comparatively. >> reporter: looking forward to getting back to daily activities pain-free. dr. malcolm marshall, cbs news boston. >>> most insurance companies are expected to cover the surgery. patients can return to activities within a year and higher impact sports by 18 months. >>> if you like soccer you might be watching on facebook live. the social network signed a deal with major league soccer and univision to stream live games in the u.s. first match next saturday. by the way facebook is reportedly in talks with major league baseball as well. facebook got the money, -- >> just a matter of time before the major sports hit social media. do a little deal and pull it up and watch it on your phone. >> we love what you have to say. >> i got so much sports. i don't need one segment. i need two of them! we got nhl, rare hockey leadoff today. sharks matinee game. here is a player point of view as patrick marleau hit the ice. the white clad nash

. >>> the annual flower show started yesterday at macy's union square. there's a carnival theme and there are pin ball machines and fortune tellers and vintage items from playland at the beach. of course lots of flowers, 175 varieties of them. >> you get to walk through and feel like you're going through the love boat of a carnival. as you proceed on in jewelry, we have the carosel of horses they designed using mirrors and reflection. >> the carousel was by -- macy's flower show originated 71 years in san francisco and on display until april 9th. still to come, new details on london terror attack. what we're learning about the suspect's past. new b.a.r.t. and warm springs extension hits the tracks but could federal >>> good morning to you, we're starting this half hour with a look at the weather. here's lisa argen. >> we have a final area of showers moving through the south bay and monterey county, little marathon going on down there, they could be getting their heads wet. you'll notice from fremont to san jose, the upper elevations may be a few light sh

so the reason why the group was that all women a woman named macy was made a supervisor of the group was a big deal to have a woman as the head of the important section the lab was still small if you know, anything about the history of the lab was basically founded by crazy people who love to fire rockets and creates havoc so they saw her as the mother figure so they put trusted in her so even though she received applications from bin and women but she literally hire women. her thinking was that she wanted to create a cohesive group in wanted it to feel like a family she was worried if she hired then there would not listen to her simply because she was a woman. coming from all over the country many had advanced degrees when of the first african-american and hired in a technical position having a degree in chemical engineering today to be hired as an engineer. >> the first woman to work there was the wives and sisters and daughters of the astronomers that were roped into the calculation work there was a logical next up to hire women from outside the university to continue the work. >>

attic clouds during the early morning, macy see a shower, but don't expect a lot. -- added clouds in the early morning, may see a shower, but don't expect a lot plus, tracking the rain sunday. the timing of that coming up. scenes on the streets of d.c. during the presidential inauguration. now a lawsuit over how the police handle that. michelle marsh has the update. horace, the group behind the lawsuit claims the police department is withholding documents about how the january 20 protest was handled. more than 200 people were arrested. the suit said that mpd and interim police chief peter newsham refused to release police records that they claim should be made available to the public under the first amendment and federal laws. notsuit asks that newsham be confirmed until there is a full investigation into the actions and a release of the documents for stop we reached out to mpd for a response. they sai pending litigation. alison: a 75-year-old man injured in yesterday's terror attack in london has died. that brings the death toll to four. one american is among the dead. a utah reside

we saw that when starbucks was political and stocks dropped and macy's, and started closing stores.ike to talk with their pocket book. when ivanka's brand tripled, went 300% in sales when they tried to stop her and joy villa stepped out in the trump dress at the grammy's and she went to number one. the left is doing right now, works to their vandaling for 2018 and 2020, they might want to give enough rope to hang itself so to speak. eric: your thoughts on this mess? we'll talk about your thoughts on snoop dogg's video and also bow wow's response. >> i think that bow wow is-- >> it's not political correct, you guys hate political correctness and-- >> satire is fine, but when you show the clown dressed as the president and pulling the trigger. >> ted nugent said, president obama is an expletive, told him to suck on my machine gun. and that's at a trump rally and supporting the president and we didn't boycott-- >> i would not. >> the bow wow tweet. >> he's disgusting. eric: he, i guess his name is chad moss. at redonald trump, tomorrow talking about my snoop dogg before we pimp your wi

reports they are interested in macy's.anadian retailers are dominating their american counterparts who are in an ice page? she has major understanding of all a the players. the quiet canadians kicking u.s. retailers showing life and growth? >> it is unbelievable but actually very true. two things are going on right now. one, hudson's bay realizes the american consumer and shoppers all over the world are shopping differently. they have the infrastructure in order to go ahead and acquire these ancient retailers for example, saks fifth avenue and neiman marcus and bring them into 2017. so if you think about it, look at neiman marcus's same-store sales, they were down 6.8%. revenue was down 6.1%. people are not shopping the way we used to anymore. we go online. hudson's bay wants to bring them into the light i guess i should say. also the chairman, executive chairman of hudson's bay is a real estate magnate. this is also a potential real estate play on their part. neiman marcus owns a lot of stores. there are a lot of anchor s

other stores have been shattering shops with macy's announcing a closure of more than 100 stores.ears will begin closing outlets next month in a bid to stay afloat. claire: how are the markets looking? >> looking ahead to a vote in the u.s. congress on health care. that will be seen as a bellwether for the trump administration's economic plans. british retailers doing well despite mixed earnings reports. the frankfurt dax also recovering from slips in the morning to show some gains midday. retail shares are up in london. the uk's office of national statistics has just released retail sales figures for february and they beat expectations by a significant margin. over are up over 1.4% january. consecutivees after months of declining sales. verizon and at&t have suspended their advertising on youtube and other non-search google properties over concerns their ads have appeared next to videos promoting terror and hate. move follows similar suspensions by a number of british companies. google has pledged policy updates and a hiring spree to deal with the situation. amazon has reportedly

macy's is going to now have possibly fewer employees. it's testing self-service systems in its shoe departments and beauty counters. the company says they're reacting to customer habits. they say many people don't even want help getting shoes or make-up anymore. >> who are those people? >> that's the only time i really need help. >> show me anyone. >> the new system is modeled after discount retailers like tj maxx and nordstrom rack. dave from san francisco has a question about his phone service. >>> he spoke to us at our ask finney event in daly city. >> my question is, i bought a bundle, and i don't need the phone service so i'm trying to get out of it. >> hey, dave, i got some pretty bad news for you. you're probably not going to get out of it. most bundled services include video, phone, and internet and even if you don't want one of the three, you bought a bundle. a bundle of three. now, generally, people tell me they don't need or want the phone service but often, if you take that out of the package, you pay more for the remaining v

. >> reporter: macy hudson is anxiously awaiting word about her friend. >> i don't think i could handleowing that i might never see her again. >> reporter: hudson hasn't seen daniella a very gas since last week when they took her into custody. >> for now i'm not so sure my dream will develop. >> reporter: she came from argentina when she was 7. she was protected under daca, the program protecting young people brought to the u.s. as children temporary permission to stay and work permits. her status expired in november and she did not apply until november when she could come up with the $400 fee. her attorney said they're threatening to deport her without a hearing. >> she's a good person with no criminal history with a good range of accomplishment. >> we're getting the bad ones out. >> reporter: president trump said his policies target criminals but the order he signed allows for the removal of all undocumented imgrants. patricia ice is with an an advocacy group for immigrantses. >> i think they're trying to put fear in the minds of those who are undoumtsed and get them to maybe self-dep

snap is now worth more than cbs and macy's. so how do you evaluate it? they now actually look cheap in comparison. i think it is impossible to compare it to the other ones. one thing to remember, the stock is up 60% from the ipo price of $17. why do company go public? to raise capital. and then they deploy the capital. if you think back to facebook in 2012, they knew they would be getting a lot of capital. they boughter oculus. and the what's app deal. so the point is, we don't know what they're going to do. they're coming off a the very small base. i think a couple of analysts have been out on the street and hit go the name on valley sgags that doesn't make a lot of sense to me when you consider that they had about $400 million in revenues. >> how much do you think is scarcity value? you think about social is now media and digital ad and a bunch of places. if you're media, you have to have a toe hold. >> you weren't on the program last night. it is one of the only pure reality plays in the market. they haven't really monetized that. >> did you decide th

the guys playing the game, whether it is macy's, or even burlington stores, they are looking to shrinke purpose square footage into something that works. the cup -- the question is can they avoid bankruptcy. a lot of people are surprised they have been able to stay afloat for this long. i would probably be one of them. when i started coming in three years ago, i think my beard was all black. that has changed. it has contingent desk is contingent on the -- it is contingent upon the willingness to rewrite checks because they have been monetizing assets, but the only bidder has been eddie lambert himself. as long as he is willing to write checks, you can play the game longer, but eventually you run out of assets to sell. is one point you brought up -- they are getting $1 billion from selling craftsman tools. soy are busy can only sell much. i want to dive into the terminal to look at the fundamentals function yet again. i am looking at sears cash and cash equivalents -- this line right here that rests at about $286 million. then down here in the negative, a huge decline in the available c

macy's falling after reuters reported the company is not in any talks with hudson's bay. macy's is skeptical hudson's bay can get financing for any sort of a deal according to reuters which cited people familiar. these are the three worst performers in the s&p 500 today. outside of stocks, you have to look another asset classes and their reaction to janet yellen has commentary today. as we pointed out throughout the afternoon, reaction came earlier the fed chairen spoke and prepared the market for a rate increase on march 15. janet yellen putting a fine point on it. the 10-year yield only up a basis point. the dollar is actually lower. oil prices coming back 1.2%, and gold not much changed at the moment. thank you so much. the chair suggesting a rate hike is possible. >> the midi about -- the committee will evaluate if it claimant and inflation continue to evolve in line with expectations, in which case, a further adjustment of the federal funds rate would likely be appropriate. what would a fed move mean for financial markets? joining us from new york is the chief invest

so, you have intraday weakness in macy's. also with an exclusive, quoting sources that neiman marcus has hired lazard to help advise on some debt restructuring. so we'll see, wait for confirmation on some of those reports, but your point about department stores is taken. >> and neiman was on the eve of listening when nordstroms going back a year had a really difficult earnings period. that got pulled. i'm not surprised they're looking at other earntives. >> the elephant in the room, amazon is up around 850 bucks a share. >> i believe we can go back to deidra bosa with chip wilson. >> thank you. i'm glad we got the technical issues sorted out. kelly asked you about sort of the state of retail and how the big-box retailers have had their issues, but lululemon in recent quarters has seen improvement, raised revenue guidance, improving margins. i believe lululemon's online business is 20%. are you ready to admit finally that lululemon is doing well? i know you sparred about this a previous time you were on cnbc with jim cramer. w

is hoping to restate -- to million.dditional $1.5 american malls have been shuddering shops, with macy's announcing in january the closure of 100 stores after a 9% share drop. sears will begin shutting outlets in a bid to reverse its financial fortunes and stay afloat. >> times are a changing. thank you very much. we will take a very short break. after that, more news. 03/23/17 03/23/17 [captioning made possible by democracy now!] amy: from pacifica, this is democracy now! you know, certainly big-money players. what you have is him was like a third-party that is the money party. it is a conservative, outside pressure group that i is actings a foforce field, pulling the republican party, particularly, to the right. amy: today, jane mayer on robert mercer, the reclusive hedge fund billionaire who helped trump

to make a back-to-back to buy macy's.tyler? >> michelle, thank you. chesapeake, in particular, getting hurt. now 25%. coming up, we'll talk to the company's ceo live from the big energy conference in houston. and the thing ivanka trump wants her father to do that could have a big impact on your family. "power lunch" returns in just a moment. e*trade's powerful trading tools, give you access to in-depth analysis, and a team of experienced traders ready to help if you need it. it's like having the power of a trading floor, wherever you are. it's your trade. e*trade companies across the state are york sgrowing the economy,otion. with the help of the lowest taxes in decades, a talented workforce, and world-class innovations. like in plattsburgh, where the most advanced transportation is already en route. and in corning, where the future is materializing. let us help grow your company's tomorrow - today at esd.ny.gov the markets change... at t. rowe price... our disciplined approach remains. global markets may be uncertain...

new york city, the police department used dumptrucks filled with sand to block off access to the macy's thanksgiving day parade after isis threatened a ramming attack, which never happened. the u.s. has thousands of troops deployed overseas and spends billions on surveillance and drones, but they're of little use to stop a man with a car and a knife. for that, old-fashioned security seems to work best. cops, barriers and a little luck. lester? >> richard engel, thanks. here now to explore the challenge of preventing such attack, i'm joined by senior national security analyst juan zarate. juan, you look at what happened in london. obviously it can happen anywhere. how concerned are you about this inspiring others and what can be done to stop it? >> lester, i think this is the new age of terror and we've got to worry about it. we have to worry about large-scale attacks, coordinated attacks by al qaeda and the islamic state, but we also have to wore about the demonstration effect of these types of attacks we've seen in europe and other parts of the world inspiring deranged individuals and

macy's shares down for you% as a result to $31.77 today. drug makers astrazeneca said they would be working together on develop a medication for preventing a respiratory condition in newborns called rsv. the most common cause for respiratory track infections this infants worldwide. the shares rose to 21.92. and verizon is buying back up to 100 million of its shares. they reported a quarterly dividend. the annualized yield is for you.6%. shares up 11 droenl. >> now to our monitor who is finding opportunity in the health care sector. this is not her first time on the program but it is as a market monitor. good to see you again, nancy. welcome back. >> thank you. good to see you. >> let's start with your first pick. it is amgen. it has room to run in your mind? >> it does indeed. the whole health care group began, particularly when hillary clinton tweeted about drug prices. we began to buy aggressively. though it is up, it yields about 2.6%. the dividend growth has been about 35% per year and it is trade go at a below market trice price the ea

macy's is up for sale we know that. now we have neiman marcus be pursued tell us about this.e a deal. richard parker's executive chairman is a real estate magnet. his very savvy when it comes to this. not only is this hudson bay tried to be a little bit more on the channel they are also trying to offload a lot of that real estate that neiman marcus has. live about $5 billion in debt. this is actually a little bit of it cheaper play for hudson bay versus the acquisition of macy's. there are explored options this may be their only option. >> you can see that the retail space has had a really tough time and you've seen everybody really focused on focus on the real estate and not actually the retail sales and because they haven't been able to figure out on these on the channels. they are selling online as well as in stores. as their own private product lines of the able to push out but they haven't figured it out and so the talk about macy's is spitting off and the real estate. but do you think that these companies can compete not unrealistic but actually in the omni channel. wha