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mickey drexler speaking out saying he underestimated how technology would up end the retail industry.n years, i might have done some things earlier. drexler also said we have been a little too elitist in our attitude, referring to his plan to emphasize the lower prices and adopt a more accessible image. we've always loved mickey on the show but j. crew has continued to struggle, especially in women's wear. >> his point is technology coming in such a rapid change, he's never seen anything change so rapidly. >> folks, what's old is new again. amazon's latest bet, physical book stores. morgan brennan joins us from the e-commerce giant's new store in new york city. good morning, morgue amorgan. >> good morning, becky. >> i'm standing here in the same complex that once housed a borders, remember those big box retailers that amazon helped put out of business? it is the seventh brick and mortar store for amazon in the u.s. you might be wondering, why is the e-commerce giant doing this? amazon will tell you it is to sell more books temperatu. amazon did start as an online store. experts say t

mickey drexler was speaking today saying i did not appreciate how extensive that moved to online wouldnal change in the industry? mark: it's very difficult but you have to find experiences in retail that really do not apply to online. like a guitar center or toys "r" us, these things where they are not going away. they are too important for the trade. bere will certainly parts of the commodity where you can get it online, and these people are doing it. it is where the rubber meets the road because disruption is real, it is not going away. there is a ton of real estate that a lot of people on that they shouldn't. seema: it is about where they fit in in the model. maybe for a lot of these names it is to be smaller. maybe with toys "r" us, they do not need as many because they are going online. we have a record high on the nasdaq and the s&p 500. underpinning that is amazon also hitting a record high. patrickon, michael weighed in on the devastation that we could see off of other retailers. >> i'm not sure mark is particularly confident welding online. he was quite accomplished setting up