ceo of saks tells us what he is seeing from consumers.ll benefit most from the metta verse and newmask mandates in new york. >> first just a little over ten minutes to go in the trading day. we are in the "closing bell" market zone. we have charlie back and anik. welcome. we'll kick it off with the broader market dow on track for strong weekly gains. if we close around these levels that will be a rally despite data showing consumer prices rose year over year at the faster rate since 192 -- 1992 u.s. army and navy members get a -- >> ahead of the army-navy game tomorrow. >> this is the big call on inflation and we just see the numbers get hotter and hotter. where do you think this goes >> a year ago when we started to talk about this it was lonely on inflation isle and starting to feel like miami south baeach it's like alcoholism at first it is fun but then the pain comes later this is the second manhattan phase of this. we're still feeling the positives of the massive money supply increase. had a positive effect on the economy, bringing u

i remember when saks did this. we haven't seen the dotcom ipo and maybe next year? are investors so excited about this strategy? >> yeah. it is -- you can actually point it all the way back to saks and the valuation to get from the ipo. that was a signal to investors to be a really lucrative transaction. if they believe to get $6 billion in this ipo then what could a macy's get and kohl's and that got kind of the wheels turning to look at various retail everies to see where the low hanging fruit might lie in this separation idea it is important to note saks ha ha ha hasn't officially done this yet. but the ball is rolling. >> we'll see what happens. kohl's had been doing well this year thank you. this wednesday we have an interview with kohl's ceo right here on "closing bell" 4:00 p.m. eastern time and will ask her what she thinks about this strategy it is very trendy in department stores now getting some pressure from investors. >> we'll see on wednesday. looking forward to that one. >>> higher across the board by almost 2% on the dow still to come, the ceo of posh

paul saks, thanks so much. good to have you. >> thanks, poppy. happy new year. >> you as well. >>> next, thousands of people forced out of their homes now allowed back, but look at the images. many not even having a home to return to as wildfires tear through towns near boulder, colorado. we'll take you there live. >>> also, the january 6th committee asking the supreme court not to take up the case over the former president's efforts to keep more than 700 pages of his white house documents secret. >>> and also we're watching new year's eve celebrations around the world. here is how sydney, australia, rang in 2022. my nunormal? fewer asthma attacks with nucala. a once-monthly add-on injection for severe eosinophilic asthma. nucala reduces eosinophils, a key cause of severe asthma. nucala is not for sudden breathing problems. allergic reactions can occur. get help right away for swelling of face, mouth, tongue or trouble breathing. infections that can cause shingles have occurred. don't stop steroids unless told by your doctor. tell your doctor if

the voters who know him best in new york city, a quinnipiac poll showed 76% sak he should not run. >> sean: he cost taxpayers $320,000 for his security detail. he hasn't paid that back. has office has been said that the ever well. that's in addition to the 850-million dollars taxpayers paid for his wife. we will be happy to see bill de blasio leave. first we would be remiss if we did not look back at his hits. first the death of the groundhog.di >> this shows mayor bill de blasio you know appearing to drop -- the ground that did of you more before he he was found deceased on february 9. so the sloppy this did not and they are. he tweeted and deleted a picture of himself of staring at a woman's chest. and sounded like a chipmunk at a campaign rally. >> [talking very fast]. guarantee working people by law 2 weeks paid vacation every year. >> sean: [laughing]. then this year, the clumsy and dumb mayor of new york city, the slob stuffed his face with french fries to bribe new yorkers to get vaccinated. >> free fries when you get vaccinated. i got vaccinated.et [talking with mouthful]. i c

what do you think we come here for, we want to contribute, not go to disney world or shop at saks' fifthntribute, we know american exceptionality is waiting for us, the promised land. and the economic policies that were established in the last administration, helped everyone's pocket, i am he happy that new numbers show it we're here because we know we want to be republicans. and we have realized in the last 30 years, political -- democratic party has been playing political football with us. i say that in 2008, president obama promised my community and immigration reform law. within the first 100 days of his president see, nothing, he invested his political capital no obamacare, and president biden said at beginning of this year, within the first 100 days of my presidency, i will do an immigration reform law. what happened, he ditched us, now time for g.o.p. to welcome my people, and we will do an i'm fraction an immigration reform law god permits next year. trey: for 8 years i was there they would bring in so-called immigration experts, all of whom looked like me. and said you need to d

contain large groups of young people who decided to target a neiman marcus and another separate rat at saksifth avenue. a day later a university of illinois chicago crime summit concluded these theft rings are now the number one consumer of retailers, in fact the presiden in ceo of the illinois retail a merchants association said stores are now primarily focuse on safety quoting its determining their livelihood, where they're going to locate, whether they're going to locate and their viability, that's how bad this problem has gotten. instead of looking to defend he cities retailers, mayor lightfoot is now blaming them. >> i'm disappointed they're not doing more to take safety and make it a priority. for example there are still retailers that won't institute plans like having security officers in your store, making sure that they've got cameras that are actually operational. locking up their merchandise at night. >> last year lori lightfoot moved to cut $80 million from her police department budget an now those same police officers are being told to cancel their pre- christmas days off to ad

saks, we're heading into another year of the pandemic. it will be our third year of the pandemic. going forward, what do you think life looks like with covid still around? is that headline accurate, that we need to learn to live with covid instead of defeating it? >> joe, i think there's no doubt that covid is here to stay. the question is how serious is it going to be going forward. and i want to remind people that it's still a very serious disease among three groups of people. in particular, you've already mentioned the unvaccinated, but also the people who are immunocompromised. that's about 5% of the u.s. population. they don't actually get much protection from the vaccines. they are also at risk. and then the third group are people who have multiple medical problems, usually the elderly, and they also are getting sick with covid-19. so i think that we still need to be very careful. i know that it is the holidays, but the virus really doesn't care about the holidays, and we have to still be careful going forward. >> and it is clearly spreading very quickly right now. dr. sax,

e-commerce erodes the margins a high average ticket store, it doesn't make much difference if you're saksneiman's, something like that, shipping out things tat $500, its irrelevant for the overall margin picture if you're kohl's, you do degrade your margins meanwhile, you have to figure out how to fix it and that involves having products with higher margin, building the ticket up, building your average price, building the average items per transaction. you have to view that as a new challenge for the ages if you want to be a winner in the future >> gerry storch, great insights, we appreciate this pete, let's trade this how are you going to do it >> i think there are so many companies that are doing extremely well as a matter of fact one of jerry's old companies, target, has been absolutely fantastic. and they've actually done both sides of it. they've done a great job with the digital side of things and the online and the growth that we've had there but also when people go back into those stores, which they will still doing, when they go back into those stores, they've got the higher marg

that vote came in 1971 from former republican senator william saks and you had bob dole in 1988 when he lost the presidential primary, the republican primary in 1988 against george h w. bush and the famous video clip of this, quit lying about my record and also having president bush went back on his no new taxes pledge, he said, well, it's time for him to get some lip balm. i hear those are good for cracked lips. again, he would let both sides have it. but even just a couple months ago, you might remember that norm mcdonald died from saturday night live who did a very good impersonation and he always appreciated that i'm personation, appeared on saturday night live with him as well and that's the type of thing that you will remember bob dole for is that he also had this witty side. in retirement, he appeared in a pepsi commercial. so these were kind of the lighter sides of bob dole. and here's kind of a funny story too. he was serving in the senate as majority leader in 1996 and it was clear he was going to run for president and was the odds-on favorite in 1996 and back in those days

that could be a problem because you're in the home field part of the playoffs >> tony saks -- >> tony -- you what? my nana mary used to say if you can't say anything nice why bother >> these incredibly smart and i've got tell you, when i look at what you guys are doing and i saw your double duty work. the clubs have had a lot of people who have been really really right >> those were not easy days and we're not necessarily fully out of the woods, but the market is so -- >> i listen to your people because i like them since i was cool looking and i -- but i will tell you this, when push came to shove no one panicked in your team i had off that day that friday who says this is an interesting month. >> you know who did that right before i let you go was josh brown in the heart of the sell-off he tweeted buy them and he talked about it on the show >> i didn't want to single him out. josh does it, yeah i've seen josh at my bar he's, like, give me -- how about a model on and i like it here and could you -- extra salt on that margarita and it's pretty good here. that's the way he is he's alway

kron 4, sak, you talked with infectious disease expert doctor peter chin-hong. >> whether or not this is the calm before the storm. >> remains to be seen and the east coast says been a four-fold increase in pediatric hospitalizations in the new york area. chicago, watching to see what will happen. but the bay area's interesting because a lot of people around this kids are vaccinated, one of the highest rates of vaccines in the country. despite rising omicron cases and hospitalizations among children in other large cities. >> infectious disease specialist at ucsf. doctor peter chin-hong remains hopeful for several reasons for one, he says hospitalizations here in the bay area still remain relatively low in 2. the omicron variant doesn't appear to be more severe in kids than previous trance between ucsf benioff children's hospitals in san francisco and oakland doctor chin-hong says a high of 15 children were hospitalized with covid in september compared to only 5 hospitalized now, at the end of december. however, if the bay area were to follow trends on the east coast. doctor chin-hong

last month, the storefront windows of louie baton and saks fifth avenue were smashed in during attemptede say multiple suspects traveling in several vehicles drove up to the stores and used a sledgehammer to break the front windows. you can't walk into pretty much any store without there being some security there. they're not checking vaccinations. they're just trying to make sure nothing happens. the beverly hills pd also plans to double the number of patrols from two security firms currently works with if there's more that. will stop these events. that's great, you know, other than actually standing somebody in front of every store 24 hours a day if they're going to be able to stop anything. just because of the size of the area that they need to patrol. the increased security comes days after the deadly shooting of philanthropist jackie avanti, wife of legendary music executive clearance of on at their truesdale estates home. 29 year old resident aerial maynor was arrested for the killing following an unrelated burglary in the hollywood hills. he was on parole and had an extensive crim

saks fifth avenue making the move earlier this year, kohl's and macy's facing pressure to do the samemind, strategically and operationally in department stores and i agree with cornell co-founders, niraj shaw and steve konie at way fair. way fair is moving from just e-commerce to stores. michelle guess at kohl's says so much momentum between sephora, home, toys, food and fashion that kohl's does not need to split off. in the case of saks it can make some sense, macy's can make some sense, macy's needs cash to recapitalize and digitize its stores. generally the combination of e-commerce, dot-com and in-store, omni channel makes much more sense as was referenced so well. maria: we will watch that. great analysis as always. good to see you, sir, burt flickinger joining us this morning. >> thank you. maria: quick break and then canceling the classics, woke film critics coming after your favorite christmas movies you now, you'll never guess which popular movie made their list. it is next in the morning's hot topic buzz. ♪♪ care. it has the power to change the way we see things. ♪♪ it inspi

they are a private equity firms that would pay $75 a share, this following a similar incident with saksyear for the auto industry with tight inventory car buyers are record sums for new cars leading dealerships to post healthy earnings, but not everyone feels about love as auto parts suppliers a delivery delays and canceled orders along with soaring costs are putting more pressure on them. all of this along with the global ship shortage -- ship shortage. maria: thank you. happening in texas, that's for sure as we look at china looking to build its first permanent military base on the atlantic ocean with essential african country of guinea. according to the "wall street journal" the white house and the pentagon urging the small african country to reject the proposal warning a naval facility where china can rearm with munitions and repair naval vessels will pose a threat to the world. joining me right now is fox news contributor general keith kellogg. great to have you this morning. thanks for being here. assess the threat from china particularly with this new information that they want a

steve sadove, mastercard advisor, former saks ceo.that carries into next year. romaine: keeping our eyes on some other stories out there. tesla. there was a big recall. about 475 thousand cars in the u.s. recalled for some safety issues. not having a huge impact on the stock. we will break down exactly what is happening and why. this is bloomberg. ♪ paul: we are back with special coverage, bloomberg markets. extended coverage, another couple of hours for you. we have simulcast, radio and tv, having some fun with that. keeping on top of the last trading days in the market into 2022. tesla is a name that is front burner for many investors, an extraordinary run. year to date, it is interesting, it is up 54%. it kind of sneaks up on you when you look at that performance. romaine: this company has been through so many ups and downs, but this was really a breakout year for elon musk, not only in terms of what the stock did but the number of deliveries the company was able to achieve. by some measures, they did achieve some profitability. pa

your company sent a letter suggesting a sale or a spin-off of the e-commerce business, like we saw at saksst i'd say to the topic you mentioned around the e-com spin-off, is certainly is getting a lot of attention these days the number one priority of the board is to drive shareholder value. we are very aligned with all of our investors in doing that. we have ongoing dialogue with lots of investors. we listen to them, we hear their ideas, and we take them very seriously and as it relates to this particular one, we've been doing a lot of work and we'll continue to do a lot of work on it to understand what this means for your business. >> so it is something that you would consider the e-commerce business the investor says could be conservatively valued at $12.4 billion or more, which is much greater than valuation for kohl's >> as i was saying, sara, we have lots of conversations with our investors. there's lots of ideas out there. and we evaluate them and the board and the management team take this very seriously. so, like we would any big idea, we're putting a lot of resource and what this

potentially for the market valuations overall right now and i ask this, because when you see a deal like sakst with that. a lot of insiders selling, who are making sure they're locking in valuations at this level. do they know something we don't? trying to make haynow? you mentioned it a little. make sure you take advantage of the valuations while here and use it or lose it. should that tell the rest of us valuations are coming? >> yeah. i think in a core valuation sense of period of time. that said i think we're in a tapering moment end of the year. we have a lot of short-term investors not just in this market but retail now. it's a bit overdone in terms of selling pressure at end of the year so a bit optimistic beginning of next year, although i do think we're in a much more valuation sense of environment i think companies have to have longer-term scale with profitability, durable models not straight up. i referenced the letter stanley drucker said higher they go cheaper they look. no longer that kind of environment. you really have to have a grounding of metrics as a sustainable plan to ge

activist shareholder urged the company to separate the digital arm from the brick and mortar stores and saksart so far this year, the highest in five years and it comes as both interest and prices skyrocket. everything from pablo picasso to nfts. back to you. maria: big numbers, lauren. thank you so much. we've got a new fox business poll what that shows 70% of registered voters say that 2021 was a bad year for the country and a bad year for them. 55% said it was a bad year for their family. it comes as inflation hit a 39-year high in november, climbing 6.8% year over year. no signs of cooling down any time soon. everything costs more. we also have massive spikes in crime across the country. and of course joining us now to talk more about what else has impacted our families is the former ceo of home depot, the former ceo of chrysler, bob nardelli who is in touch with businesses and has his finger on the pulse. bob, it's great to see you this morning. thanks so much for being here. >> good morning, maria. and merry christmas to you and all of your viewers. i couldn't agree with you more about

s m sak, as th meer designaters mis,m the house that s. demings wl yn h.r. 50. anashe mr degnated by at mr. cnawiyeon h.r57. e speaker p recognition? ms. brownley: thank you, mr. speaker. as the member designated by mrs. bustos of illinois, i inform the house that mrs. bustos will vote yes on h.r. 5720. the speaker pro tempore: for what purpose does the gentleman from georgia seek recognition? mr. johnson: as the member designated by brenda lawrence from michigan, i inform the house that mrs. lawrence will vote yea on h.r. 5720. the speaker pro tempore: for what purpose does the gentleman from california seek recognition? mr. gomez: as the member designated by mr. swaul, form -- mr. swalwell, i inform the house that will vote yes on h.r. 5720. as the member designated by mr. vela, i inform the house that mr. vela will vote yes on h.r. 5720. the speaker pro tempore: for what -- the speaker pro tempore: for what purpose does the gentleman from maryland seek recognition? mr. raskin: mr. speaker, as the member designated by mr. khanna of california, pursuant to hous