my colleague stephanie ruhle is there and she has an excuse of interview with mickey drexler, chairman ceo of j.crew. thank you so much. mickey, you have to tell us. what does retail feel like right now? what is the vibe? >> i think the vibe is challenging, a little difficult, get me the best deal, and you have to be more creative and be more strategic and you just have to deliver more than your competitors deliver. >> is it just about offering sales? gap is offering 75% off. it is hard not to go in. >> it depends on if you like the goods or not. we are not in the customer looking for a deal business. it is challenging. that is not our business. but it does create a certain environment. >> how can you afford not to be in a business? ralph look at brands like lauren, coach, i feel like i by moore and an alum off from them than i do in the retail stores. businesss a long-term and job for me. we move forward as we see the market demands. we have a very successful factory value business. if retailers want to create by only doing price and cheap, long-term will tell the story. how many reta

mickey drexler talks about the art and science of

and i will be speaking with mickey drexler. leaving, but i will be over at robin hood for the rest of the day. >> before we go, we need to bring everyone up to speed. here is "on the market." ibm, plunging, abandoning its earnings forecast, which is major for 2014. the ceo says the company was hit by weaker than expected software sales. that they are still struggling to find out how to shift away and onto cloud computing. that was miller's idea. it is not an innovative company and it needs to be disruptive. current management all comes from within ibm. there are structural issues with the way the company is organized , and i think it is tough for the people who come from the inside. a trust issue. ibm is the company that other big companies hire to sort out their tech issues. if you don't trust them to move at the speed of the indus read to get you into the cloud, you go shopping elsewhere. >> right next-door. >> we also need to mention what is happening with rail companies . csx in particular confirming today that they put an

. >> as mickey drexler told us, if you try to compete on price, there is a lose lose game. >> it is alwaysit is always about the perceived value of the product. depending on who your customer is, it is always about the product. what is hotot -- and what is happening. people don't always know what they want. it is up to the retailer to dictate. apple is one of the best examples. it is a need to have product. everybody wants it. >> at sears, why would anybody need to go to sears? why does anybody need to go there? >> that is a very good question. i always go back to, what is relevant? what is their positioning? i haven't been in a sears store for many years because there is no reason for me to go in one. --i go to a sears stowed store to go through it to the mall. >> if it is hot outside and you need to cool off. who have beens around for a long time have not stayed current. it is going to take a lot of money and a lot of perseverance to come out on the better end. >> i want to get your experience. ceo on.he former sears speed is going to be an issue for the retailers if you don't execute an

thes coming to us live from robin hood investor conference right here on bloomberg television, mickey drexler" this is "bloomberg surveillance ." let's get you company news. with a start resignation. bloomberg lp, the parent company of bloomberg news. andriy's leaving the ebay board. mcdonald's is expecting 200 restaurants. nine are temporarily closed. the scope of the shutdown in russia is seen as a responsive western sections in russia. the company plus new payment service lets shoppers buy items using their thumbprint. walmartailers including are not a get on board. apple reports earnings after the bell today. that is the latest company news. >> are guest host stephen king -- our guest host, stephen king. don't forget japan. serious experiment, japan has and is a field experiment. why is it failing? dr. the whole idea is that you had this massive momentary stimulus. and lots and lots of structural reforms. after the big fall in the the tradeate that, position did not improve much. he had the consumption tax coming through, the big increase, which was hefty. it does not create conditions th