watch more on "impact by nightline: unboxing shein" on hulu. >>> when we come back, all mariah careycoming christmas tour. ♪ what more can i do baby all i want for christmas is you ♪ to help protect from hiv. i prep without pills. with apretude, a prescription medicine used to reduce the risk of hiv without daily prep pills. with one shot every other month, just 6 times a year. in studies, apretude was proven superior to a daily prep pill in reducing the risk of hiv. you must be hiv negative to receive apretude and get tested before each injection. if you think you were exposed to hiv or have flu-like symptoms, tell your doctor right away. apretude does not prevent other sexually transmitted infections. practice safer sex to reduce your risk. don't take apretude if you're allergic to it or taking certain medicines, as they may interact. tell your doctor if you've had liver problems or mental health concerns. if you have a rash or other allergic reactions, stop apretude and get medical help right away. serious side effects include allergic reactions, liver problems, and depression. so

one but it shows u.s. monthly customers. shein dipped over the last few months while temu continues to pull further ahead. it goes back to that question, can you like both or do you need to choose one or another, which will be an interesting question when shein does move forward with that ipo. >> yeah, the comparison is interesting. one thing i can tell you, according to an investor update, is shein claims they are profitable, net profit as of this year. but i wonder about the competitive aspect of it because shein, i think of as more of a retail with its own branded product. i know they're trying to be more marketplace and open it up to third-party sellers. but when it comes to temu eating someone's lunch, isn't it amazon or walmart that are more immediately threaten? >> it's a good question. i think maybe what some analysts might worry about or investors worry about is a potential race to the bottom. if shein and temu are both profitable and they're going to be spending more on marketing campaigns, which is going to benefit meta

just thinking about how we saw alibaba shares decline, the thinking is that the sellers will sell on a shein instead of alibaba, so it loses that part of the business as opposed to the sale, because they are selling directly to china. >> that's part of it, but also, pdd has been discounting so well, and really kind of leading in that area, a lot of the bargain sales and gen z, too, consumers are trying to strive for a bargain, as opposed to having the best and most luxurious item, like maybe you want to have second-hand lv bag or something like that, which wasn't really the case, you know, years ago. so, it's just because the economic times are so negative right now that people are looking for different ways to save money. >> so, eunice, since you've been gone, i don't know if you noticed this, but tiktok has come under a lot of scrutiny here in the u.s. so, i wonder if these companies that are selling into the u.s., and there's a host of things here. they have this consumer relationship. tiktok is about data, it's about, you know, user generated content, but now it's a financial transaction

start on shein.hat are we thinking appetite would be like for a company that is rivaling h&m and zara? >> they are hoping to go sometime next year. we think they could be valued as much as $90 billion. they have low price points which has been popular with u.s. consumers. and global consumers. they were chinese founded but they moved their headquarters to singapore. this would not be a chinese company listing in the u.s.. there has been a little -- a lot of your political tensions there. singapore makes it more amenable. ed: reddit is an interesting one as well. i spent the morning reading about reddit's history. they started this ipo discussion in january at 2022. two years ago. what is the latest on a reddit listing? >> they wanted to go public during the last ipo boom but they just missed it. they have been eagerly waiting for the ipo window to reopen. they were not in the first crop of companies to go public this fall. we saw instacart and all of that. sources tell us that they are getting ready,

you can buy a cooking mixer now on shein and temu. fast growth, i think from both of them as they ramp up marketing spend, especially in places like tiktok, where shein has 8.6 million followers. temu also has been super aggressive. but temu semis in china, and they've had a lot of growth in that market. follow that race. >> i know you're following shein. >> absolutely. >> every single move. >>> when we come back, the outlook for stocks of one of wall street's longtime bears. why he says bet on netflix and old dplin i don't know. >>> we're a week away from another cnbc work summit, this time on the peril and promise of ai when it comes to work and your business. scan can qr code on your screen. when you think of investment risk, do you consider climate risk? changing weather patterns are impacting the way we live and the value of businesses large and small. this can mean disruption to supply chains, changing demand for products and shifting regulation. what does this mean for your business, your clients, and your investments? ice offe

it is a docile market which shein would come into. >> they will weigh considerations. onef the points i raised with julianna was potential guy geopolitical tensions. could that listing be problematic in the u.s.? >> i spoke to my wife and she purchased something off shein an hour ago. i think that is wis what is fro and center. geopolitical risk is part of the surrounding environment which shein would be coming to the market and they have to answer questions around the exposure. i think it is really the business model. is it cash generative and is it growing and is the marketing strategy growing? the stats teaseem to say that. we have younger demographics in europe and america. i think in terms of the ipo market, this is the deal that the ipo market is waiting for. it will be an absolute shot in the arm if this deal goes well. >> romaine, it is fascinating to hear you say that. we heard the rhetoric with the arm listing earlier this year. it is not the shot in the arm you described shein to be. what gives you confidence this one would be different? >> i think one of the th

a common criticism or complaint is that the cheap stuff found on temu and shein is low quality, it doesn'tmart more heavily discounted. like this portable washing machine appears to be half the price on temu versus amazon. today it's 17 bucks on temu. more than 60% off at amazon, the same product is about $60. no discount. take another example of this projector. it is under $30 on temu, discount of 60%. what appears to be the same one on walmart goes for more than 45 bucks. so, a reasonable, very reasonable question to ask is whether temu and the chinese e-commerce platforms if they're just burning cash to give these steep discounts, lock in the american consumer. how sustainable is that? bernstein put out a note looking at temu parent's path to profitability in china. this is remarkable. it went from a negative 100% margin to a positive 60% margin after those shopping habits became entrenched. we don't know if that's going to work in america, but that is pretty remarkable numbers. they are certainly gaining consumers here. >> so who's the most afraid of this? who are they taking share fro

but we'll start with deirdre bosa for more on what pinduoduo means for shein.it could be. if you think that sheinis using similar strategies as pinduo duo, that would be good if you want to invest in shein. it filed confidentially for an ipo. we don't get any information until it flips that f1 and make its public, but we know a lot about temu and parent company pinduoduo. it's operated on this business model of steep, steep discounts, subsidized all the products so that you loop in or you capture the american consumer. and you might think, how do you ever turn that into a profitable business? pinduoduo has done that. for the first nine months of the year it booked some $5 billion in profits and shows you that there is a path to profitability for these huge e-commerce platforms that operate on heavy, heavy discounts. so, if shein is doing a similar thing and similar model, you could see that maybe it is leading to a profitable business. >> deirdre, could i follow up with that. temu is like shein but it's different, right? a shein is fashion. it's pretty much clo

the company is under investigation by the house select committee on kichina. shein is cooperating with lawmakers and denied forced labor in factories he visited. the company repeatedly knowknowledge knowledges that forbced labor hs been found and fixed the issues. >>> and a judge orders binance founder zhao to remain in the u.s. ahead of sentencing. he pled guilty tied to the cryptocurrency exchange. he is free on bond. >> interesting. they didn't want to release him because there is no extradition treaty. >>> more fallout from the collapse of ftx. investors have been suing the company's celebrity promoters including tom brady and larry san sanders. they sued mlb in federal court in miami yesterday accusing of aiding and abetting or participating in the global fraud. the group is suing formula 1 racing on similar grounds. they want back any money that ftx gave them in the promotional deals. >> the sports stadium. >> yeah. >> miami heat. i think. >> this would be the company trying to get back all of the funds. >>> home depot founder ken langone will meet with nikki

. >> it does feel like nobody's spending on home goods, but taylor swift tickets another way to play retail may be coming, because cnbc now confirming that shein, the major online retailer, has filed to go public this was first reported by "the wall street journal. could be one of the biggest ipos in years the last time they raised money in the private market, got a valuation of $66 billion and that was down by a third from its prior valuation this is a company that -- they don't call themselves fast fashion, they like the on-demand fashion. they have totally changed the model and captivated american consumers. don't call them a chinese company, they've been hard at work in washington trying to convince everyone. the manufacturing is done in china, the headquarters is in singapore and so is the ceo. the retail market is all over the globe, they don't sell in china, and they have a huge growing market in the u.s. what do you think? >> well, i think it has a lot to not like in that, okay, you can call it, you know, on-demand, which is so different than fast fashion, i can't even begin to tell you how different it is, and you can say stthey're no

anjelica peebles is here. >>> and could the ip on o freeze be thawing? it is not just shein, but there are others in the mix. we'll tell you what it is when "worldwide exchange" returns. meet gold bond daily healing. a powerhouse lotion that moisturizes, heals, and smooths dry skin. with 7 moisturizers & 3 vitamins. and... new gold bond healing sensitive. clinically shown to heal & moisturize dry, sensitive skin. gold bond. >>> welcome back to "worldwide exchange." we are seeing the dow hitting the highest levels of the morning. the s&p is fractionally higher. >>> let's see how europe is shaping up with julianna tatelbaum in the london newsroom with more on the early action. julianna, good morning. >> frank, good morning. great to see you. here in europe, we are looking at modest losses in the equity market. similar to yesterday. you can see the majority of regions are trading lower. cac 40 is down .40%. similar for the ftse 100 in the uk. investors reviewing kmecomments from the ecb. christine lagarde spoke before parliament and they were not starting to think about cutting

on pinterest? they're riding temu and shein. w, one day, we're going to be saying, well, we all work for shein, so it's embarrassing that he has to mention shein. i send this note out every morning. you could subscribe, it would be great for me. use the darn qr code. >> use the darn qr code. >> you only like -- all he ever does is look at what stock i own that's doing badly in the club and points that out or tries to get me out of stocks, as we know. >> it's the boeing effect. >> bill tried to get me out of disney because it was a horrible movie weekend, but then maybe there's a board meeting where you get a dividend. >> you never know, jim. >> do you want to get me out? >> you ready to get out yet? >> that never meant a thing to him before. thank you. >> you're welcome. >> yeah, thank you. >> i know. sorry about boeing. i know. i'm sorry. >> just right out there, one of the best stocks. >> it's on me, of course, that he got out of boeing. on me. >> it was. >> the shame. >> i was mortified every time. >> you called a couple of go

on the macro conditions and stock market conditions. >> sebastian, i look forward to continuing to speak to you in the runup of the ipo. sebastian siemiatkowski, the ceo of klarna. >>> and sheinets sights on a $90 billion val uation in a possible ipo. the report says even that figure no longer reflects the company value on the secondary market citing people familiar with the matter. deliberations are ongoing and no decision has been made on the timing of the possible ipo. >>> coming up on the show, lower oil prices weigh on results at aramco. we will breakdown the numbers after this. with cirkul, your water is deliciously flavored at the turn of a dial, with zero sugar and zero calories. and cirkul has over 40 flavors, so your water can be as unique as you are. try cirkul. your water, your way. now with even more flavors. available at walmart or drinkcirkul.com. shipstation saves us so much time it makes it really easy and seamless pick an order print everything you need slap the label on ito the box and it's ready to go our cost for shipping, were cut in half just like that go to shipstation/tv and get 2 months free hi, i'm darlene and i lost 40 pounds with golo just like th

enough american technology to build up a chinese competitor on the e-commerce front, two of the fastest platforms in america are chinese, temu and sheinmerican companies, though, continue to take hits in the chinese market, there's unity, missed revenue expectations and recent quarter thanks to new chinese government restrictions on gaming, rising challenges for apple. meta might be going the other way after 14 years, after getting shut out of the country it's getting back in with tech giant tencent to sell v 4 headsets in particular we'll be watching closely and san francisco right now is gearing up for a major event. the barricades are starting and people figuring out how to get around the city. >> the meta news is fascinating after 15 years, maybe the headset is their re-entry into china. deirdre, thank you deirdre bosa it will be a busy week next week >>> cruise down about 6% this autumn but didn't stop warren buffet from adding to his position wherpres ae icre headed and other big oil names are a buy is next personalized financial advice from ameriprise can do more than help you reach your goals. i can make this work. it can help

amy, on those high-profile ipos, shein and reddit.fence to -- hon hai plans to invest $1.6 billion for operational needs. they've been making apple products in india for several years. the firm planted double the size of its business there. shares of irobot fell sharply after the european union's antitrust arm issued a warning against amazon's plan to take over. the proposed deal could hurt the market for the manufacturing and supply of automated vacuum cleaners. the companies could avoid a veto by addressing the commission's competition issues. alibaba has closed its quantum computing research lab in a sign that it is considering more cutbacks. the company will donate its equipment to the university. the closure will result in the loss of about 30 staff. earlier this month, alibaba killed the much anticipated spin and listing of its cloud services division. coming up, world leaders, headed to dubai for the cop 28 claimant talks, but it seems joe biden and xi jinping will not be among them. we will discuss what to expect from the meet

on the street." e-commerce giant shein getting closer to an ipo. s are on the private market. the exact timing is unclear, i asked the ceo about it last week. >> clearly, focused on growth. the business is doing well. you're -- >> responsible growth. >> responsible growth. you're dealing with the regulators. you're one of the most valuable startups on the planet. what is the thinking on the ipo? a lot of people think you're doinging the groundwork. >> responsible growth is important for us. doing everything to ensure our growth is steady and stable. >> while there's no indication they're nearer to an ipo, you know, i can report according to sources familiar, they haven't had any conversations about another private funding round or about any kind of valuation on the public markets at this point. since their last funding round, which valued at about $66 million in may, a step down from the $100 billion it got in 2022. it's kind of a speculation rumor mill at this point. >> if undertaking extensive pr over the i don't know how much it is, we can expect

shein. working on a listing that could value the company as much as 15 billion u.s. dollars. ng at a valuation at much as 90 u.s. dollars. it has been quiet for this part of the banking industry and there is potential to come into next year. tom: are they legitimate ipo candidates? are they essentially almost micro caps that should not be looking at an ipo? the froth is let's cash out, get the equity going. where will we be in six months? lisa: we haven't seen any froth. this year has been so quiet when it comes to ipo's. not just in general going back, but there is a question if this will be some kind of private equity exit. our founders exiting some kind of investment? or do people see the market thawing in a concrete way and want to move forward with investment? i'm not sure. to me, the idea that things are coming out is a positive sign. tom: i think that the exit pressure is tangible. rubenstein with this wonderful show on bloomberg, this goes to apollo. when we visit apollo next week, what the incentives are. they are out of patients and they want an exodus of some kind.

one of the biggest names in the entire world for fast fashion could soon make its public debut. multiple reports swirling at this hour that singapore-based sheind for an ipo here in the u.s. which would be one of, if not the most valuable china-founded companies to ever list in new york. goldman sachs, jp if morgan chase and morgan stanley apparently, according to these report, have been hired as lead underwriters. bloomberg reports shein is targeting up to a $90 billion valuation. fast fashion rapidly changing the retail landscape. what could this monster everything po, if it comes to pass, mean for the future of how retailers operate and how the stocks will battle it out for investors' money? if i want to bring in retail legend mickey breaksler r founder of old navy and madewell and the former ceo of gap and j.crew and ann taylor and now the chairman at alex mill. okay, first thought about the shein potential ipo. >> i know nothing of them. shein, other than it's extraordinary. i always wondered how they sell the goods at those prices. and i'm, i don't know anything about their sourcing, but there would be a question about that x. there have

now on the e-commerce front, and we talked about this before, two of the fastest growing e-commerce platforms in america are chinese. that's temu and shein super bowl ads and deep discounts, temu has by one estimate more than 56 million monthly users in the u.s., owned by a tech giant pinduoduo, making $150 billion company. american companies continue to take hits in the chinese market. there's unity, a video game company that missed revenue expectations in its most recent quarter thanks to new chinese government restrictions on gaming of course we've been talking about the iphone restrictions, too, and increasing scrutiny at apple's largest chinese supplier, foxcon meta, 14 years after getting shut out of the country, it's getting back in with a chinese company to sell vr head sets the last time president biden and president xi met was a year ago during the group of 20 summit in bali this is a photo from a south china morning post article a few years ago. president xi jinping in 1985 in front of the golden gate bridge right here in san francisco. maybe he'll try to re-create it. >> he knows the bay area, knows iowa pretty well he's no s

hello, live on channel one, the program time will tell, i’m artyom shein. and today is a rare case when in news reports , the weather has been relegated to the background, political news, in some sense of the word, has sung with the news from the front, we will talk about the weather later, but the weather is like this, and, well, such communication , that practically throughout the entire territory of our country, from the southern seas and generally to kamchatka, so or in other words, some kind of spontaneous, and natural, climatic troubles , and what do you want to start with something so, well, very pleasant, however, i didn’t need to come up with this pleasant thing , this pleasant thing is present today and so on the agenda, because today us on november 27, today is marine corps day, and i heartily congratulate everyone who served, everyone who serves in the valiant marine corps of the russian federation, first of all those... who perform combat missions, where the motherland said to perform combat missions, of course in svo, but there are many places where our marines carry out c

shein, if you haven't heard of them, the fast fashion retailer. major news overnight, reuters are reporting they are looking to ipo in 2024. it will be onevery long time. of course we don't have the full details yet but they're looking to get valuation around $90 billion, and compare that to arm that had a valuation of $50 billion. shein has been looking to expand wooz a as we spoke about their partnership with forever 21 earlier this year, they're looking to gain market share and grow in new geographical locations. one thing, though, it is a company not immune to criticism. their business practices have come under scrutiny. there have been allegations of forced labor which the company categorically denies but if and when of course this ipo does go ahead you would expect those businesses to come under focus from a lot more business makers. >> all right, let's keep you posted with any updates. live from london, great to see you. thank you for joining us this morning. still ahead here on "way too early," we'll turn back to politics with a look at the issue of border security. we'll go through what's in the deal that lawmakers are hoping to

rishaad: shein has been the calm -- subject of conversation on reddit, and they are also perhaps in talksgeted for the first quarter of next year. reporter: people close to the matter are telling us this appears to be the case. this is a company that has been waiting for the reopening of the market for new listings and we are told they are now talking once again to investors. reddit may be best known on wall street as the social media platform whose users have fueled the meme stock frenzy back in 2021, making it a banner year for equities. sources say reddit which has been working with morgan stanley and goldman were considering a valuation of as much as $15 billion. you could say they lead the class of 2024 ipo candidates that are testing the waters. rubric, a microsoft-based cloud and data security start up, also considering an ipo and we are told kim kardashian's schisms, valued the summer at $4 billion, and undergarment company, is discussing options that include going public in 2024. the companies that have been planning first timeshare sales in the u.s. have been frustrated for many

don't know when we started tolerating forced labor, but shein is the poster child for forced labor in the apparel market. and it's wreaking havoc ony proud to put americans to work, that are very proud to bring manufacturing back to the united states with. and we were on a meet youric rise for -- meteoric rise until this latest administration has decided to not only willfully ignore, but almost placate to china each though it's very well known that the eager -- uighur population, upwards of 4 million muslim slaves, are being used to make iphones, shein products. and it is inte spinning bl. -- despicable. stuart: look, it's not all forced labor, surely. these are very, very cheap, and americans want the bargains. what are you going to do, ban it? would you ban them? >> how about just enforce current u.s. laws? we have a problem with endorsint laws. the uighur force protection act, which was unanimously signed by all senators, it has an enforcement that is essentially just not being acted upon. so we do have laws that become paper tiger. it's very easy to it's for -- to test for apparel products to see if they are originating from p

on a person to gauge it. >> you need to read all reviews and measurements and realize a lot of stuff is coming from china and sheinver the world, maybe you convinced me to share food, maybe go to stores and see everything in real life. >> everything seems to be cheaper now, i was trying to find a nice winter jacket, i was like, i'm going to freeze. >> you can borrow any coat when you are here. >> tell you about florida. like everything seems not made as well these days. >> thanks, joe biden. >> yeah. thanks, joe biden. >> emily: so much more to come, guys, stay with us. ♪ ♪ my dad believed in hard work, and the farm was the perfect place to learn grit, determination and problem solving. we're taking that passion and channeling it through our farm to home bedding bath, and apparel at red land cotton. we grow cotton in the rich red earth of north alabama. and we want our products to be made here in the usa, from the seed in the ground to the final stitch. go to red land cotton dot com and receive 20% off your order with code fox 20 [sneeze] dude you coming? ♪ alka-seltzer plus powermax gels cold & flu relief with mo

on wi the report next week. what uld you say e the broader implications strategic misses over saturation? is it temu and shein'swhat has accounted for difficult stocks? >> challenges th the low-income consumer, margin pressures that these companies have faced. when you look at the dollar scores, when you sell lower margin consumables that has gative margin implications. these companies have had severe margin headwinds. a challenge for the stock on en comparison.cult pandemic for dollar general, you've had some execution issues, you know, under the old ceo and now they're trng to rectify them with improving the supply chain. they made progress there and invested more in wages it's a number of factors out there, both chains are if i look at dg and dollar tree we have a perform rate on both. dg we think there's greater turnaround potential in the coming years. strong cash iteration and we're optimistic they cadrive accelerati. >> are we gointo look back and say the lor income consumer was able to gemojo back and if so how so? >> yeah. so snap benefits will start to lapse next year and that could be a positive. so

it shows up on the radar for walmart, it shows up for amazon, and these numbers could grow, especially as these app download figures are really stunning. temu in particular, and also sheintle wary of retailers until this shakes out, but you see direct beneficiaries. which stocks are they? >> i think the digital advertising cohort feels like a clear winner i get a lot of questions on is there a cliff, we went through this a couple years ago when tiktok was growing off of the platforms. i think there's a difference here i don't think there is necessarily the same cliff we saw with a social media name amazon is the largest advertiser on the planet. they spend somewhere north of $40 per prime subscriber each year in the u.s. when you're a transaction-based business, you've got to get folks to adopt it and try it out. i've bought a few things they want me to keep buying more and more things. so digital ad dollars don't just disappear. i think they're here to stay. >> just quoting now bank of america, they think kohl's, gap could be at risk more directly as you're talking about the potential advertising beneficiaries. one interesting point to listen is that you think people w