nordstrom is in front.customer spends three to four times with a single channel customer spends, and i think that's why we're seeing nordstrom winning. >> do you buy macy's argument that tourism is drying things up? >> certainly they've got a big tourist destination with their new york store, and obviously, nordstrom doesn't have that. they have tourist business on the west coast. that's part of the argument but nordstrom is a full price business. macy's is promotional. it's going to be a struggle, i think, to move from being promotional to being less promotional and then opening off price businesses on the side. >> there's a piece in the times and "the washington post" about how the nature of what we buy as gifts has changed and what we buy or ourselves. we're not buying things. we're buying experiences. does that change the way you model these companys? >> i think what's changed the way we model them is we have to consider that the traffic in the stores is not necessarily as important as the overall traff

courtney reagan has more. >> nordstrom's comparable sales are strong here, up 4.9% nordstrom rack upd been a strong segment for nordstrom and broader retail segment. inventory up about 11%. that does have something to do with the acquisition of trump club. that is a bit elevated. cosmetics, women's apparel some of the strongest categories. coats, dresses and apparel geared toward the younger customer were strong. >> guy, impressive results. >> yeah, they are. the stock sold off in light of what happened to macy's. in terms of valuation, i would rather own macy's at 12.5, 13 time forward earnings than nordstrom. not to say north strom can't push towards $80, but the value in the space is macy's. i think terry lundgren is one of the better operators. the stock was punished unjustifiably. i would rather own m than jwm. >> i don't totally disagree. there is value there and that ceo is impressive. nordstrom has been spending like mad on a lot of different initiatives for growth. it's very encouraging to see results. one quarter does not make a trend. but that is a good comp number versus

nordstrom rack is growing like a weed. -- comparable sales up it suggests nordstrom's getting most of its earnings power out of more fully priced merchandise. that is a big difference from macy's, which had to discount a lot of stuff. from: it is also a change where the engine had been. rack had been the engine at nordstrom for a while. does this suggest if traders are trading up to nordstrom? unclear. at the am looking website and wondering why. what does nordstrom have that others do not? i do not get it. matter of the merchandise they have. also, nordstrom in the industry is known, in terms of customer service, it is near the top. erik: nordstrom sales to the upper-middle-class customer. i spent a lot of time walking back-and-forth or nordstrom. i suspect i suspect i am one of the only people to spend a decent amount of time in shopping centers. on hise arrives motorbike. next hour, we talk about applebee laying its live television service until next year and why. ♪ >> this is "market makers." erik: good morning once ag

nordstrom, major focus.n marcus coming back level. >> we are about one week removed now from what people are calling media geddan. right now, we have deflategate. you see that horrible drawing of tom brady. >> the sketch artist is apologizing. should have made him look more handsome than i did. >> it was really poorly done. by the way, talking about a poor performance, the media stocks, it is funny. you can look at the group and yet they are down yet again. sort of not really much of a bounceoff for lowe's. on last thursday's close. what a start for james murdoch. the first conference call. news corp having a good, decent quarter. >> they decided to deamplify amplify. they decided to take the visions that are googlelike and chop them. >> news corp, they did have a number that came in above estimates. the free cash flow number as well. the stock up 10%. print may not be completely dead after all. >> that's always a nice sign broadly speaking. we have a lot of pure play companies when it comes to so-called old

. >> we got an earnings alert on nordstrom. >> melissa, nordstrom reporting 4.9% beating the street easiestts of 3.8% and the company reads guidance on comp sales and net sales for the year but now the eps guidance for the year. the stock responding nicely to the after hours up 5%. melissa, back over to you. >> kate, thanks so much. dan, what did you make of the action? >> it's tough. when you think about what we just had in the last week, macy's was really not a great report and people are there for other reasons for them unlocking value from the real estate but what they said is not particularly great. there are issues about back to school. think about a stock like ralph lauren, rl, this stock is down 30% on the year and makes lower lows every day. i think it's really a situation and a stock picker's market in retail. >> nordstrom is a big evaluation close to 19 times forward earnings, the surprise here in order -- nordstrom. rack up 1%. one thing that concerns me, huge inventory build. not a function of a recent acquisitiacr acquisition but 11% is not great. i would buy macy's. >> coming

nordstrom is next. yesterday's miss from macy's, investors have a reason to be concerned, right? joining us now is stephen newman, the former ceo of loman's, and the head of an e-commerce site. great to see you. so what is going on here? you got her earnings that are not that great and then sales numbers that seem to show -- you have earnings that are not that great and then sales numbers that seem to show a mixed bag here. stephen: it depends on who reports and where they sit in this tier of retail. we are going to get some extras of. i think it depends on. -- gets a mixed results. i think it depends on how fresh and new their deliveries are. if they are try to get the message across about their fashion and why should someone come in and shop, that should also help. betty: department stores are going to see the brunt of a slowdown or what? stephen: if you listen to what macy's said yesterday, a big part of it was the follow-up into ours him. i think there has got to be -- the falloff in tourism. i thin

milton: the same wealthy consumers chop at nordstrom.nd quality of any meant -- the value and quality of a neiman marcus product, what karen katz and her team has done, they have modernized neiman marcus. their people to be relationship builders instead of transact errors -- t ransactors. why was tiffany such a good company? stephanie: the experience. they create the experience. if you are going to go to bloomingdale's and look at the same product at bloomingdale's or bergdorf goodman, they are priced at the same level. bergdorf's does offer a different experience. when you say millenials like it, anti-ole offering seems millenial. milton: there's a myth that millenials are not people, too. they are only digital. i've lectured at harvard and columbia and asked how does luxury fit into your life? absolutely. what karen katz has done is educated her sales associates. loses seven brand out of 10 consumers every year, a 30% retention rate. if you can move that needle, you can improve the top line and bottom-line. executing the fundamentals.

olivia: i am more of a nordstrom girl.hought nordstrom was an interesting juxtaposition when you compare their results to what went on at macy's. revising down their forecast for the year, saying they see no sale store growth. pimm: a lot of it has to do with promotional issues related to west coast holdups? olivia: jcpenney is partnering with sapporo. -- sephora. let's take a check of some of the latest headlines. al gore is not running for president. despite a news report on the internet website buzzfeed, to .he contrary motors recalling 73,000 chevy cobalt sedans. may have been built with improperly routed side impact wiring that could prevent .hese airbags from deploying etsy is taking advantage of an irish business law. the online platform for artisans, craft makers, and small businesses is asking users outside the united states to accept a terms of use agreement with etsy in ireland. a change in registration allows the company to shield basic financial information about the units. google and linkedin also use the unl

''nordstrom rack'' en colma muestra a ''terrie elzie'' propinando dos puÑetazos al rostro de la vctimaen sin poder evitarlo cae al piso... --- la agresora, lo hizo luego que la seÑora le pidiera que callara a su sobrina de dos aÑos quien lloraba... ---por esta agresin, ''elzie'' pasar cuatro meses en prisin y tendr que asistir a un programa de manejo de ira... juanfra facebook juanfra - ots ---hablemos ahora del medio ambiente... esta maÑana...un grupo de activistas protestarn para rechazar el desarrollo de armas nucleares... take vo --esta manifestacin ser en el laboratorio nacional lawrence en la ciudad de livermore... lugar donde se desarrollan y diseÑan armas nucleares... --el evento tiene como propsito hacer conciencia de la importancia de mantener el mundo seguro, pacfico y libre de este tipo de armamento... --hoy marca el aniversario nmero 70... cuandoestados unidos lanz una bomba atmica en la ciudad "hiroshima" en japn. lorena - ots --esta maÑana el congresista "mike honda" hablar sobre la seguridad cibernticaen redwood city... take vo --en las oficinas de la compaÑa "crossmatc

pimm: luxury retail, nordstrom. the nordstrom numbers were better than the macy's numbers.ey are being helped by the fact that off rack is working for them. pimm: macy's is following in that genre, creating their own off-price line of apparel. mark: they are launching it but it is having no impact on their business. nordstrom has a great online business. pimm: tell me about online. i keep thinking amazon, books, media, but it is everything. it is fashion. mark: apparel is probably between 15% and 20% of business online. retailers that have this on the channel presence, the reality is, you want to be able to buy something online and if it does not fit, make an easy return in the store. weing bricks and clicks, as like to say, is a huge benefit. pimm: do you see any change in the buying patterns of back to school parents, or back-to-school shoppers? mark: continually later. pimm: waiting for sales? mark: people want to go to school and see what everybody else is wearing. maybe they want to buy a portion before school starts, but they want to see what their friends are married

we have a lot of retailers we've been focusing on, and nordstrom and j.c. good news out of nordstroms, profit there, that's a winner, and also j.c. penney up about 7% after its quarterly revenues have been on the rise, with jewelry and is he forea, he will 19%. start your day stuart: nordstrom way up 6% serging on good news, the store beat all of its sales forecasts it's going to do even better in the future. it's the top guerrin in the s&p 500. up 6 percentage points. and look at this. nasa testing out a new engine, this one could take us to mars, the ferrari of rockets, it could take us to the red plant in the next couple of decades. that's a test. and drones now more of a hazard than ever before. the faa says irresponsible use on the rise. flying too close to planes more than doubled, 650 close calls in the past seven months, up from 230 last year. the faa says drones should never fly higher than 400 feet. this is a story that's developing. and now this. the white hat hacker recently discovered how the hacker gm through its on star system has now found t

julie: nordstrom rack. cory: this gets back to my thing . it is nordstrom, not kohl's.eaper stuff. julie: maybe this stuff is perceived as better quality, but it is a marked down. matt: i was thinking of terry lundgren. they want to have some kind of macy's backstage or bloomingdale's behind the scenes. retail did not look that great last week. it is looking at little better today. what do you think about the state of the u.s. consumer? >> we think they are improving. we have some great tailwinds. low oil prices are great for u.s. consumers. we have a strengthening dollar and lower unemployment. we liked the consumer discretionary space right now. people are spending money that they were not spending before. they are spending it on things they did not need to spend it on before. clothes, electronics, cars. matt: you consider that discretionary? the changing credit , over 60% of the cars sold in the last year had loans at 72 weeks, which is crazy. matt: why is that crazy? it is just different. don't worry about it. cory: it is subprime lending. you are extending credit t

it is up to the latest at putnam and nordstrom in bedford-stuy. citi bike is looking to expand 2017. >>> facebook has one billion people that used the site in a single day. that is one out of every 7 people on the earth as mark zuckerberg pointed out p. facebook has nearly 1 1/2 billion users in all who log in once a month. >> all those people who said facebook would go away, yeah. >> wait until the people on mars use it and pluto. >> crazy. i wouldn't be surprised. >> we are following breaking news out of brooklyn. shots fired inside a brooklyn lounge killing one and injuring several others. we are all: milk! milk! milk! milk! milk! okay! fun's over. aw. aw. thirsty? they said it would make me cool. they don't sound cool to me. guess not. you got to stick up for yourself, like with the name your price tool. people tell us their budget, not the other way around. aren't you lactose intolerant? this isn't lactose. it's milk. behold the power of protein in new birds eye protein blends. ok. they're delicious side dishes with the protein of beans, whol

take vo ---este video de vigilancia de las afueras de la tienda ''nordstrom rack'' en colma muestra a ''terrie elzie'' propinando dos puÑetazos en el rostro de la vctima obligndola a caer al piso... --- la agresora lo hizo luego que la mujer le pidiera que callara a su sobrina de dos aÑos... --- ''elzie'' pasar cuatro meses en prisin y tendr que asistir a un programa para controlar la ira... juanfra facebook juanfra/ms --- en concord un popular parque se convirti en una escenario sangriento luego que un indigente fuera apuÑalado... take side map --- el ataque se registr la tarde de ayer en el parque ''baldwin'' --- segn la polica la vctima camin hasta un hospital cercano luego de ser agredido... --- al parecer el desamparado y el atacante un hombre de richmond habran peleado cerca a los baÑos... lorena facebook lorena/ots ---en pittsburg un polica se recupera luego de ser herido de bala durante una persecucin... take vo ---el incidente se report el mircoles por la maÑana sobre la calle doce. cuando el agente reconoci a un sujeto buscado por intento de homicidio en concord... ---el age

nordstrom right after the close. sandra: very good stuff. lauren, thank you that vice president joe biden given the strongest of the yankees actively making a run at the white house. mr. biden using part of his vacation in south carolina this week to sound out friends and families. he is asking political allies for it by sending gauging the strength of the clinton campaign. mr. biden expected to announce his decision next month. republican presidential candidate and carson laying out his tax plan in an interview with stuart varney theme is based on typing. >> you make $10 million company paid billions. make $10, you pay one. i will get rid of all the deductions and loopholes. here is the key. they put at the guy who put in a billion dollars and say he's still got $9 billion last. that is not fair. we need more of his money. that is called socialism. sandra: meanwhile, a cnn poll of republican voters finds dr. carson is in second place behind donald trump. shares of cisco systems probably 4% in extended trading after the latest results topped

cold and nordstrom, j.c. penney releasing its numbers friday. a report on second quarter productivity, retail sales out thursday. consumer spending accounts for it two thirds of the economy and get weekly jobless claims, trading week with producer price index, industrial production and consumer sentiment, watching for all of these earnings and economic numbers on the heels of the monthly jobs report friday but there are some concerns about a jobs report in itself. dagen: in showed up on the markets, the federal reserve moving ahead with an interest rate hike, 46 points of the dow last week, thank you so much. let's get you caught up speaking of global markets, asian markets closed mixed, you can see 5% gain on china's shanghai. analysts expect consolidation among state-owned companies. over to europe next markets only loser is your british market, the ftse 100 index is lower at the moment in u.s. stock market futures -- look like gains. there was a 16 point loss on the dow last week and that 46 point loss friday after the jobs report. hillary cl

nordstrom has an extraordinary quarter. you have to spend a lot of monemoney nordstrom has spent a lot of money. and i think this will be interesting to hear about the online tv, kwsk, you can get it here quickly. people have to have it many different ways. there's so much shopping. i continue to look at way fair. we spent time this weekend and i showed you the all right w is the furniture that you buy that comes to your house. outfitted my daughter's place all way fair. it's high quality and inexpensive. and that is another thing we expect from the web. >> stocks almost $50. unbelievable. >> he's got the model everybody wants. he has 800 people in customer service. if twitter had customer service so you could say you keep running the same thing about me, could you block them. >> when we come back, we'll tell you what's going high e, tesla, a price target hike. the magic kingdom using the force, bringing star wars to the theme parks. the dax down a full percent. europe driving the buzz in the early going. ♪ ♪ ♪ if you can't

at the same time, nordstrom jumping in sales.order syndrome done right and macy's doing wrong? >> nordstrom is a little more upscale consumer. macy's is a little more promotional. and the one word we keep hearing here is promotional, promotional, promotional in the environment and the port strike actually put inventory in the stores that had to be marked down for the second quarter. so it was a bit challenging for macy's who had a lot of inventory. >> theover all sales data we got was strong. is that pointing to strength in the lower end of the market as you're suggesting with promotional stuff doing well or is it broad baited, some of the higher end items selling well, too? >> i think the higher end items and the lower end, particularly in the offprice sector, people like that value proposition and i think they are taking share from the middle. or the macy's of the world. >> which retailer do you think are positioned to benefit from lower gas prices? >> we haven't seen that flow through. but i think the bigger trend is what are

nordstrom shares up better than 5%.enney having a pretty good day after its earnings came in better than expected. it was a loss of 41 cents per share, but a loss narrower than the street had been estimating. that stock up 7% because revenues also beat expectations, same-store sales jumped 4.1%. carl, the ceo saying that it thinks it has good momentum for back to school. it thinks its inventory mix is right, especially in the home space. >> and suspicions they're taking share from a bunch of different players from jewelry to furniture. we'll see. >>> when we come back one of the legends in the movie business on the future of film. tablets and netflix. we'll hear from pixar co-founder john lassiter. plus the top five long-term picks in tech. mark mahaney joins us and alibaba's jack ma may have dropped serious money on a brand-new mansion. opinions. there's no shortage in this world. who do you trust? whose analysis is accurate? how do you make sense of it all? a simple, unbiased stock score consolidated from the opinions

take vo ---este video de vigilancia de las afueras de la tienda ''nordstrom rack'' en colma muestra a elzie'' propinando dos puÑetazos en el rostro de la vctima quien sin poder evitarlo cae al piso... --- la agresora lo hizo luego que la mujer le pidiera que callara a su sobrina de dos aÑos... --- ''elzie'' pasar cuatro meses en prisin y tendr que asistir a un programa para controlar la ira... juan fran - ots ---vamos ahora a informacin nacional... salen a la luz nuevos detalles sobreel tiroteo ocurrido en un cine en el estado de "tennessee". take vo --autoridades identificaron al pistolero como "vincente montano" quien lleg armado con una pistola de bailines... un hacha... y un explosivo falso... --siete personas se encontraban dentro de la sala al momento del ataque, pero ninguna result con heridas graves. --"montano" de 29 aÑos falleci por disparos de la polica cuando intentaba darse a la fuga por una puerta trasera. juanfra/take vo ---y tras este tiroteo, residentes de la baha estn preocupados por su seguridad en las salas de cine... ---en san francisco, los uniformados del depart

>> so many stores, nordstroms. i'll have my own website, melissa mccarthy, hsn, canada, lord & taylor. >> her 77 line will make women feel good. you know what i call it wear-apy. just like therapy helps you be nicer to people. >> i believe in that, i love that. >> inside and out. >> i think that's true. >> wear-apy, guys. >> and that sweater is pure wear-apy. that's going to become a hashtag now. it is so popular, it keeps selling out. a bunch of her clothes keep selling out. shows a hit as a fashion designer. >> you'll love this. coming up, stephen colbert getting ready to take over the late show. we have new video of them moving into david letterman's old digs. nerves alert about to head the usgs talks about today's earthquake along the hayward fault line increasing number of great white sharks expected in bay area waters. green biologists explain why a spike is hey terry stop! they have a special! so, what did you guys think of the test drive? i love the jetta. but what about a deal? terry, stop! it's quite alri

nordstrom says hold onto the games. >> i'm melissa lee, thanks for watching. see you again tomorrow at >>> my mission is simple, to make you money. i'm here to level the playing field for all investors. there's always a bull market somewhere. and i promise to he you find it. "mad money" starts now. >>> hey i'm cramer. welcome to "mad money" welcome to cramerica. other people want to make friends. i just want to make you some money. my job is not just to entertain but to coach you so call me at 1-800-743-cnbc so tweet me at jim cramer. today the winners battle back. it was tough to tell with the dow closing up 6 points. s&p declining 4.6%. the markets favorites return to glory after a very difficult run although i should add that they were substantially higher until a late day sell off knocked them off much higher pedestals. it's been a welcomed fight. the markets taking it right on the chin. today though they got off the canvas and they came back hitting. let's take down the names. first there's the come back of the cult stocks, netflix, amazon and tesla. thes

. >>> mayor retailers macy's, kohl's, and in order nordstroms are all releasing numbers. wednesday marks the 34th anniversary of the ibm personal computer. and social security turns 80 on friday. in the first year of americans receiving payments it was 222,000. now the number is 59 million. >> it's not a traditional summer vacation. turning in the beach and sunscreen for high speed learning. that's what some students from cuba is doing who is backing their lvssons in american entrepreneurship. >> they are taking it all in starting with the high speed internet. take a look. >> for these cuban students, the answer is no. but as the u.s. resumed diplomatic relations, a program is bringing four cuban interns no new york city for the summer leaam about entrepreneurship th ie american way. >>> the students are,sharo 3ng science, technology, engineering, and math start ups at the grand tech accelerator. >> our vision is to have these four kids learn about innovation here and return to clba to solve problems in cuba for cuban people. and to serve as the core for an incubator in h

. >>> macy's khol's and nordstrom are releasing budgets. the treasury budget tells how much is running. i'll give you a guess how much is happening. >>> wednesday marks the 34th anniversary of ibm personal computer. >>> on thursday, retail figures for july come out. that's always an important number. social security turns 80 friday. the number of americans receiving payments in the first year was 222,000. that number today is more than 59 million. it's not a traditional summer vacation. trading in the beach and sun tan lotion for high speed learning and high speed internet. that's what some cuban students are doing for internship. kate rogers joins us for more. >> cuban americans are starting with high speed internet. >> have you ever had so much wi-fi band in your life? >> the answer from these students is no. a program is bringing four cuban interns for new york city for several week this is summer to learn about entrepreneur ship the american way. miles spencer, tech entrepreneur and angel is funding the program through his non profit ca

finally rounding up to retail earnings season with nordstrom and kohl's on thursday and j.c. penney on friday. of these -- well if you stk a gun to my head and asked which i would buy i would say "please get that gun away from my head" then i'd say to pick nordstrom. bottom line be prepared for another wild one next week as this unfathomly difficult earnings period continues to confound individuals and institutions alike. let's go to bob in illinois. bob? >> caller: yes, sir, i was wondering with the weak commodity prices are you suggesting to have about 1510-% to 15% of your assets in gold? >> i think that's right. i regard it as insurance against what i hear people telling me about what's going to have to happen because the fed printed so much money. how about linda in florida, please. linda? >> yes, jim. happy to talk to you. i'd like your opinion on what do you think of the pipeline index? >> yeah, that's a way to go because you don't want to have individual product, individual risk. as we saw the other day from plains, which was a disaster paa. so if you put them togethe

>> so many stores, nordstroms. i'll have my own website, melissa mccarthy, hsn, canada, lord & taylor. >> her seven seven line will make women of all sizes feel good. you know what i call it? wear-apy. just like therapy helps you be nicer to people. >> i believe in that, i love that. >> inside and out. >> i think that's true. >> wear-apy, guys. >> and that sweater is pure wear-apy. right? that's going to become a hashtag now. it's so popular, it keeps selling out. a bunch of her clothes keep selling out. so she's clearly already a hit as a fashion designer. >> you'll love this. coming up, stephen colbert getting ready to take over the late show. we have new video of them moving into david letterman's old digs.r star shot gallery on "e.t." online. >>> travel consideration provided by -- >>> so stephen colbert will make his late show debut. and gq got the new shots inside the ed sullivan theater. >> there's not even a trace of the letterman set in there anymore. nothing, nada. it's completely being refitted. >> dave

the only name that we recommend that kind of fits that profile is nordstrom.because we think that this he have a more unique assortment and we also acknowledge the fact that they have a growing north strom ra i business and a phenomenal growing e-commerce. for us to get excited about macy's, it would be to follow that nordstrom blueprint more. you couple that with the blue mercury acquisition they made, if that can be another big growth opportunity and they stabilize what's happening in the core department store in the mall, we will back off. but at this point in time nordstrom is our only buy rated apparel stock along with footlocker and footwear. >> thank you both. >>> another big day in the oil pits. the final trades crossing for the session. let's get back to jackie deangelis at the nymex to set us up with the close. >> well, oil recovering from a six-year low yesterday at the close. what's going to happen today? looks like we've got a little bit of a bid on our hands but is this here to stay? the action moving higher or is it another head fake? we've seen

calls missedard estimates p or nordstrom will come out after the bell. nordstrom like macy's exposed to some extent to thrift here -- -- thriftier choppers. a big amazon sales say the month of july or we will see what kind .f effect that had matt: when you could get a role of toyota before 70% off. a dog hairbrush. i did not buy a lot of stuff. erik: we have got to move on. tesla is filing to sell 2.1 million shares in secondary offering. the carmaker would raise about $500 million suit celery growth in the u.s. and internationally. up.news is moving the stock erik: not that tesla is selling stock. in the greater scheme of things, it is not that much. how often do you see a stock sale drive sales higher? matt: many people are happy it is only half $1 billion. will buy a $20 million worth of shares pared eyelet that the bloomberg billionaires index. $12.3 billion. that is about .1% of his wealth. if he saved up a million dollars for retirement, it is like you buying $1000 worth of their stock. erik: bloomberg crunched the numbers and took a look at compan

let's see what is happening on g, no service nordstrom to court square. shuttle service being provided. l.i.r.r., new jersey transit, metro north on time. southern state parkway moving okay by the meadowbrook. past the meadowbrook construction being cleared up and out of the way. to the other camera, the van wyck moving better. kew gardens construction cleared. alternate sides in effect. back to you, ken, shirleen. >> thank you. still ahead on "eyewitness news this morning," just as millions of students across our area gear up for back to school time, freddie is giving a concert to the community he ok. so everyone is saying 'hey, you've gotta get fios.' but why? why fios? well, fios is a 100 percent fiber optics network to the home, so you can get 100% out of all your devices. and access to the fastest internet and in home wifi available from any provider. with big capacity too, so everyone in the house can be online all at once. only fios has 500 meg download speeds, with equal upload speeds. so you can upload your favorite videos up to 5x faster than ca

. >> we begin tonight's "market focus" with a late earnings beat from nordstroms. announcing an increase in quarterly sales thanks partly to a recent acquisition and its canadian stores' performance and the company raising its annual sales growth guidance. sales were initially higher in after-hours trading. in the regular session the stock was off a fraction to 74.92. a disappointing quarter from el pollo loco they missed on the top line and earnings were pretty much in line with forecasts. shares slid initially after the close. during the regular trading session the stocks up 3% to $18.36. >>> stuff day for shares of kohl's the retailer missing earnings and revenues estimates it blamed a late back-to-school start. and shares tumbled almost 9% to finish at $56.11. >>> mixed quarterlies from dillards it beat on the bottom line and revenue missed analysts' mates and weakness came from furniture categories and shoe sales were strong. the stock rose 2% to $97.03. >>> a boutique investment bank is making its wall street debut and shares priced a dollar below the firm's

. >> reporter: department stores are in focus this week with macy's, kohl's, nordstrom and jcpenney all reporting. and they think it will be a mixed bag. it hasn't been easy to get consumers to spend at department stores recently. unless they're buying athletic wear and shoes, or accessories. consumers are spending, but just not on the traditional goods that make up most department store's inventory. >> they're not necessarily buying apparel. they're going to experiences. they're going to restaurants. traveling. it's a different mind-set. they're not necessarily going to the department store to buy clothing. but they are getting out there and spending the money. >> reporter: in order to entice shop toers buy, department stores have had to increase discounting. which will likely crimp profitability. but analysts think the competitive environment could help the more midtier department stores. >> think about the value names. kohl's of the world should have a little bit better given the fact. i think jcpenney could be the surprise. they're prepared for back-to-school, some of the vendors ha

guest: sodas amazon and stocks like cosco and nordstrom.ith respect to their cash flow. brendan: julie, you have been watching these changes. group and how does that differ from five years ago? argue i think you could that the competition is much less like for like than it used to be. in other words -- they are still competing with the nordstrom's or the neiman's or the lord in taylor's or the sac's of the world, but also to a much larger extent with online in a way they were not before. brendan: with target, too. julie: with target, t.j. maxx, marshalls. the discounters. retail has been outperforming macy's this year. it is up about 2%. part of that has to do with people shifting spending downward. not just that they are shopping in fewer stores, it's that they are looking for deals. brendan: economists know that habits learned in a recession in doer. do we know what the american consumer will look like in 10 years? guest: they are still in the bunker. when jobs come back, that will change. they are notif buying stocks and are still on a f

we will compete with the nordstrom rack with options like that.phanie: my fear is that you are feeding the beast. no one wants to be the soccer. i just bought a great company which is very high end, full price because metrics and ute products. it ranges in terms of what the consumer is doing. beenll, the consumer has tending to trade down. i look at the consumer and think they are buying, but not in our category. they are buying cars, they are buying houses and furniture, mattresses, home improvement businesses are doing well, but they are not buying apparel and accessories in the way that we had hoped that they would. do you think the consumer looks like today? we are trying to get a feel for .hat they are do they have money to spend? have they decided to become savers? terry: it is gradual, but yes. it went from negative to slightly up, but in the second quarter, a little bit better. still, it is anemic. they are spending in categories like i mentioned. they are spending but there are savings rate is very high. that is a good thing long-term for

. >> macy and is nordstrom out next week. seaburg, what do you say?r's been reset in this retail space. i think macy's is the one to own in this short term but long term i caution you i think they're going to have some real struggles. it's a great brand. i get it. but i think their online business is going to compete head to head with amazon. amazon's going to displace them by 2017. i think right now it's time to buy it for a trade. the stock's been beaten up there's no expectations they're going to make numbers i think you get a trade to the up side but i caution long term i'd stay away from the stock. >> where in retail would b.k. go? >> you know, b.k. doesn't like the retail space at this point in time because even though you've had this decline in oil it has not shown up in consumer spending. sow look at something like a macy's down quite a bit, probably shouldn't be. i might, i might pick -- pick at that but it's not really a long-term type of investment for me. it's more of a trade. >> yeah. grasso. >> target. target's been an outperformer and i

we are opening six this fall season to compete with nordstrom rack and t.j. maxx.s reported second sales -- second-quarter sales unexpectedly fell. hedge fund manager john paulson made billions betting against subprime mortgages and are profiting from another u.s. housing bet, owning land. he has acquired 35,000 lives since 2009. his company shifted towards selling last year. now, that pace is accelerating. his funds have invested $770 million in lots bought out of bankruptcies. activity of the whole central nervous system of a complex organism has been captured on video for the first time. a fruit flyng in larva's nervous system. the organism and has two cameras recording. they are hoping to see how brain and neural activity control behaviors. with home cooking and baseball for the first time ever , all 15 hone teams one last night. won a deal valued at $9 billion -- how will the deal help the banking technology provider? pivoting back to our top economic story today, china allowed its currency to tumble even more, sending investors fleeing chinese and emerging ma

. >> you can get it excluzively at nordstrom. she's going to be showing more of it next week. >> i love it. still to come, inside the clutter cloz et. >> can you lit have too many bags, jewelry and shoes? >> what is wrong with the mr. t. starter kit lo real >> and then, ricky lake and her new development ri fighting against c-sections.ok? >> several hit singles and recently dropped the first single dirty, from his debut album. targeted for release by the end of this year. >> now that we have a single out, we can start to push that words a little bit and then throw a second single out. i pretty much have all the songs recorded, i've just got to pick and choose which ones. >> and you know you've made it when there's a wax figure created of you it will be only display in oorl. orlando. >>> welcome back. dale king is a horder. she does have an issue with clutter. so gail opened up her closet to see if he could just cut through the mess. >> this is how it was told to me. not that there's anything wrong with your looks, gail, but how a

we will compete with tj maxx and nordstrom rack. >> my fear is you are feeding the beast.y wants to be the sucker to pay retail anymore. i just bought a great company called blue marker which is very high, full priced cosmetics and beauty products. it does range in terms of what the consumer is doing. the consumer is trending to trade down. consumer andt think, they are buying right now, this not buying in our category -- they are buying cars and houses and furniture. their home improvement businesses are doing well. they are not buying apparel and accessories the way we had planned. that will change over time. >> what do you think the consumer looks like today? when you look at the u.s. economy, we are trained to get a feel for what the real beat is what -- do they have money to spend? >> it has been gradual, but the answer is yes on the savings part. first quarter gdp growth was nothing. second quarter, little bit better. they are spending, categories and mentioned. they are spending, but their savings rate is high. that is good for the long-term consumer. we will get so

. >> you can get it excluzively at nordstrom. going to be showing more of it next week. >> i love it. still to come, inside the clutter cloz et. >> can you real lit have too many bags, jewelry and shoes? >> what is wrong with the mr. t. starter kit look? >> and then, ricky lake and her new development ri fighting against c-sections. ♪ >> several hit singles and recently dropped the first single dirty words, from his debut album. targeted for release by the end of this year. >> now that we have a single out, we can start to push that a little bit and then throw a second single out. i pretty much have all the songs recorded, i've just got to pick and choose which ones. ♪ >> and you know you've made it when there's a wax figure created of you. it will be only display in oorl. orlando. a new season brings a new look. a chance to try something different. this summer, challenge your preconceptions and experience a cadillac for yourself. ♪ the 2015 cadillac srx. lease this from around $339 per month, or purchase with 0% apr financing. ♪

we will compete with tjx, nordstrom racks., macy's reported sales and profit lower than analysts estimates and offer discounts to move out merchandise. arrival delayed because of congestion at west coast port. here is something you don't see every day. 96 million black plastic balls .oming -- covering a reservoir they were put there in order to keep the water from of operating and causing the chlorine to react with the sunlight to create domain. 30 six cents and the flex ultraviolet rays. these are designed to 300 million gallons of water evaporating peach year. turns out they are much less expensive than putting a tarp over an entire reservoir. those are your top stories at the moment. at the moment markets are closing in europe. for the latest, we go to mark arden. mark barton. mark: the biggest drop of 2015. billionates to 470 euros. these companies are the companies affected by the chinese devaluation. they derive a sizable portion of the revenue from china. bmw autos, the biggest two-day drop since november 2011. 30 billi

we will compete with nordstrom rack with our own options like that.hile, macy's reported second-quarter sales unexpectedly fell. it had offered discounts to move out merchandise whose arrival had been delayed. and macy's just signed a deal with alibaba, making it the first u.s. department store alibaba's t-mall global. has been ordered to legalr old company's costs after she sued for sexual discrimination. and it was home sweet home in major league baseball. tuesday marked the first time in history that all 15 home teams one on the same day. viewing each game is a 50/50 proposition, sports company stats but the odds of a home sweep tonight with a full big-league schedule at one in 30 32,758.- those are just some of the top stories we're following for you on this wednesday. as the economy in china cools, alibaba is getting caught in the freeze. shares are tanking after the e-commerce giant report of the slowest quarterly sales growth in more than three years. alibaba also announced a 4 billion dollars stock buyback as it grapples with a $100 billion lo

after it's about applied materials, nordstrom, king digital and party city.ave a lot of data coming out tod today. before we talk about the economic data i want your thoughts on china. it will not actually be seen by the fed as a near term head wind? >> i don't know. i mean they're trying to continue to figure out what is happening to their economy and it's going to make it. that will be able to export more. it is a little bit of concern. i don't think that that will change any of their view on the economy but, i mean, yeah. this will put a little bit more downward pressure on prices because they're going to be a little bit cheaper when we buy them so that will keep inflation from increasing in the u.s. and that could have some impact. >> but if beijing continues to intervene will this spark a global currency war? >> it's very difficult to know. the chinese currency has been kept outside of the markets. outside of the flow of the markets for so many years that it is very very difficult to know. we have seen other currencies going down in what we could call ki

betty: that is what macy's was saying pared nordstrom rack was giving them a run for their money.imm: heaven for bid handbag sales are down. still ahead, what do bathrooms, bathroom fixtures and the 97th pga championship have in common? betty: we go to wisconsin to find the answer. ♪ betty: this is "the bloomberg market day." pimm: i want to take a look at some of the top stories at this hour. airbnb is offering a lucky fan the chance to spend the night in boston's fenway park. this is a one night only contest with a prize that includes two tickets against the new york yankees. after the game, the winner can sleep in a specially outfitted luxury suite followed by breakfast atop the green monster. less fun.little tom brady was in court yesterday for the deflategate scandal. but with made -- but what made scandal was not the case but to the courtroom sketch of tom brady. the courtroom sketch artist apologized for the depiction of the star quarterback. betty: she said she was in a rush and under pressure. pimm: the pga championship, golf's final tournament. this is along the shores o