these off price brands, marshals and t.j. maxxtores that they own, you can also see this in other opportunities like kohl's but these are stores that, you know, we think will benefit from people really thinking hard about what they want to buy and how much they want to spend on it. >> your third pick, bath and body works a name we talk about a little bit less often lowered their full year guidance, investing in technology, maybe not the first thing you think of for a bath and body works and they do keep emphasizing the supply chain is 85% divested. >> they announced they were making this investment into their technology and infrastructure and they got hit because it's going to hurt their earnings for a period of time. however, that will examine back and also this is one of those, again, very affordable price points, as we get to socialize again, smelling good turns out is a thing we want to have we think that that pent up demand, again, benefits this level of purchase and that these investments, although they're getting hit right

interestingly if we talk about the target and t.j. maxx t.j. maxx had totally solid margins, ross stores reporting tomorrow another in my portfolio. i'm not worrying about ross stores' margins but don't own walmart because we worry about there. you can't own retail broadly but certain retailers and have some nice returns. >> joe, this belski move, you know, i told him yesterday that i knew we would have it. it was just a matter of when and it's not a knock on brian, he just didn't want to be the one to sit there in the market falls out of bed so he cuts his price target right there and then. one of his pet peeves he didn't want to do but i think we all knew it was coming the other side of the call, though, he did not take down his earnings projections, even by a dollar, okay he kept those the same, even as he dumped his price target but then suggested that stocks could still rise by 20% or so by the end of the year. >> so i think we have a tsunami of bad news affecting investors and that's why we're wallowing at the bottom of this rank and proba

walmart, target and t.j. maxx. they actually reported improved profit margin.hat can we take away from all of this? >> one of the biggest takeaways is that when you are talking about supply chain, it is impacting a company's ability to remain nimble. companies like tjx -- they are not having to plan ahead and take longer time frames into account. the agility that bigger companies are being compromised by the greater landscape. it is causing some of these inventory problems. >> especially to use the word nimble because that is the word that the fed uses as well. they want to be handled and everybody is struggling to be amble. is this going to be something that they will have to deal with for quite a while? >> because we have not released -- solved supply chain issues, i think that this will persist through the end of the year. i think companies will make adjustments and improve, but the overall landscape will continue for an indeterminate amount of time. >> it feels like there is a lot of pain to come. inventories are high and people are buying less discretionar

t.j. maxx? >> there's nothing wrong with t.j. maxx. >> they had great quarter. >> they did. >> a good idea with t.j. maxx. >> you can pick up gadood bargas there. >> an unbelievable one in brooklyn, nothing but t-shirts >> awesome >> we'll talk to chuck robbins about these issues in the moment exclusive with the chairman and ceo of cisco futures again down across the board. europe's down across the board although we are getting that bid in treasuries with the 10-year 2.82 >> the 10-year >> back in a moment. ♪ ♪ wow, we're crunching tons of polygons here! what's going on? where's regina? hi, i'm ladonna. i invest in invesco qqq, a fund that gives me access to the nasdaq-100 innovations, like real time cgi. okay... yeah... oh. don't worry i got it! become an agent of innovation with invesco qqq as a business owner, your bottom line yeah... oh. don't worry i got it! is always top of mind. so start saving by switching to the mobile service designed for small business: comcast business mobile. flexible data plans mean you can get unlim

now, rent the runway is an option, just like a t.j. maxxmore efficient way to express yourself and get dressed for the many things you have going on in your life. alix: interesting you mention that, because i feel i competitors have been catching onto that. now a lot of individual brands have their own resale market or they have their own rental option as well. that is a very different landscape then when you guys started. how do you manage that? jennifer: i think that from the consumer standpoint the reason why the consumer comes to us is for unlimited variety. she wants millions of choices. she wants the 800 brands. i think the consumer does not want to wear the same brand all day, every single day. what is the value proposition of having a subscription just to do a lipo, as opposed to spotify? want the world of music at your fingertips. we think it is fantastic that brands are innovating and pushing and understanding that secondhand commerce is here to stay in has to be part of the business model. and that is why we have a hundred percen

then if you look, we had a lot of companies like t.j. maxxpot and lowe's and they did fine. they had high single digits and it was a couple prominent names like home depot. a lowe's had a hard time, and a lot of those were really what i would call a mixed issue. people were buying groceries but they did not want to buy furniture and tv sets, and in many cases, these were merchandising problems. they were kind of the wrong product as people were rotating towards experiences and hotels and getting back out. i'm not sure we should be over extrapolating some of the bad news from those retails but i will tell you it surely shook the market in the middle part of this week. lisa: that is a glass half-full view of these retail earnings that's basically it is a mixed issue and not a consumer health issue and some people would agree with you, but does that give you a sense the fed is going to raise rates all the more so to try to stave off some inflationary pressure? but consumer has more momentum and that prevents evaluation problem from stocks we wer

t.j. maxx at 9:30. bath and body works after the bell. this comes after walmart plunging the most since 1999. how much of this is idiosyncrasy and how much is this a bellwether? jonathan: down 11% yesterday. what was the story yesterday? the resiliency of home depot or the trouble of walmart? kailey: i think it is a macro call on recession. there a lot of people modeling in recession. there is another group saying there is resiliency we will not get back to back negative gdp. but i would focus on, japan is one indicator of the importance of studying trade. export dynamics and import dynamics, and maybe that will be the deciding point in late summer of where the united states is. jonathan: kit juckes thinks we need to talk more about europe. in your words the ecb rates have been negative for almost eight years. if the economy can sustain positive rates, the economy will be stronger when it happens. if. how big is the if? kit: enormous. the first case is the short-term. elephant in the room downside risk. what if the gaskets turned off and

that some of this was in targets case, and inventory issue, he saw good numbers out of home depot, t.j. maxx is not a consumer pullback. you have a lot of things where people are trying to figure out how to come out of this pandemic. last year, everybody was saying -- staying home. this year, everybody wants to get on a plane and go somewhere. it is difficult for companies to figure that out. i do not think earnings will be across the board difficult. each sector is going to have their own dynamic. i do not see lower food and fuel prices. unless people can raise prices to counteract that, we have a tough situation for a lot of reasons. it is not a huge surprise that the market is having a lot of trouble adjusting that in trying to figure out where it is going to go next. alix: apple, an estimated price to earnings rest you -- ratio is 22 times. is that enough? sarah: we were out of probable tech before this your started, i think out of probable tech we do ok. it is taking just as much of a beating as nonprofitable pet. apple's story is becoming a bigger story of what is going on. just like a

if you look at it like it is on sale and everybody loves t.j. maxx.tock market. speaking of stock market joining the nasdaq, it is a tough year, really no place to run, no place to hide. joining the is the director of investments. i want to give you props. in december you were on the show and warned us, starting to see things happen, these different sectors, specifically to as low, you were spot on and they were a vote a lot of pain. how much more painful does it get? >> more downside on the market. the average downturn in bear market is 37%. the good news is once you hit 20%, returns tend to be positive and better than average. i'm not worried about bottoms. i look at this as a buying opportunity. we have the 20% threshold i'm not worried about that, i'm looking to buy opportunities. charles: are you putting in a certain amount of time at regular intervals or trying to pick spots? >> not dollar cost averaging. in a down market i don't want to do that. that's what you do when the market is going up a little bit because you don't want to get ahead of y

after the shocking revenue decline in sales and soft guidance last night and this was a name after t.j. maxx investors were hoping would do much better than what they reported last night and a 24% drop for ross, tiler. >> the sell-off has been dramatic and painful for many investors and it's also created opportunity and our next guest says some companies are trading like they are going out of business and it is a great time to pick them up at a discount. joining us now is keith fitzgerald, principal at the fitzgerald group keith, welcome good to have you with us. >> thank you very much it's great to be here. >> you cite a couple of the stocks that are certainly household names. they are in an awful lot of portfolios they are former darlings, all three of them that are off 22, 44, 26% year to date let's start with apple and why you think the market is kind of -- has kind of got it wrong on apple >> i do think they have it wrong on apple you don't go to a store and have a 50% more sale. you go to a store with 50% less sale and you look for great management and products and the price. they're n

paints then can come back with a battle plan next up people have turned against tjx, the parent of t.j. maxx and marshall's and think it has a merchandise problem. these guys buy excess inventory at bargain basement prices what if nobody has it? what if there is no glut there was a problem like that but since christmas so much seasonal merchandise ended up coming in late this stuff has a home tjx. i'm predicting a good quarter although the stock often starts off soft when they report the news and the rallies come in later in the day so be prepared. the people who act fast are usually wrong. now, the silence out of cisco, the networking kingpin, i find has been deafening as a shareholder for my charitable trust which, of course, you can follow along by joining the investing club i am beginning to wonder if the hope for upside surprise from all those orders that were nodded happens or if they're related to europe, a big market for cisco in order for it to work the company has to speed up from hardware to software or the stock will get clobbered maybe 3 1/2 level. again, i'm not that bullish on

retailers and it seems to be the lower end consumers and the one who is most challenged here even in t.j. maxxs. >> as always. >> they're in the lower end demographics it's more challenging than their hiring demographics so there's a tale of two stories here and it's important to keep into context that yes, this has been a challenging start to the year, but we're coming off very strong years and the wealth effect is certainly a mental and psychological thing, but people, if they think back to where they were two or three years ago they're very much ahead of the game and are above long tomorrow averages and most people are still feeling good so long as this doesn't continue and persist. >> let's talk about two names that you would be recommending here. >> yeah. we're looking to try to pick from the rubble. meta, formerly known as facebook folks know it was hit pretty hard the first quarter was challenging for them in the way they were able to track their ad spend. they seem to be making some progresses on that and the stock in the meantime has come off what was sort of above market multiples dow

being over inventory is a disaster walmart is not there t.j. maxx have a problem with any of this finally there are other companies whose strategies just stink. they have been wrong for decades. they were wrong before the pandemic they're wrong now. they'll be wrong forever look at the department stores, macy's, even nordstrom's what a great name, a nordstrom, a kohl's take a look at bed, bath and beyond these companies hit their peaks a decade ago many of them, their stocks are at the same levels they were at in the 1990s they have been dead money the whole time don't they see that what they're doing is not working >> well, when it comes to a macy's, did they not make some progress on omni channel during the pandemic wasn't there a sense that we used the stores themselves as distribution centers and it seemed to get some traction. and then kohl's, very cheap stock, nobody is saying that they're killing it, but somebody wants to buy the company here. >> they have done some good things they're smart people they have worked hard. but it's three yards

lauren: what we heard from target is hurting the retail sector with few exceptions, t.j. maxxade down from full price merchandise off-price. of the one that is what i was saying in the editorial, you come to a point where prices are up so much you the consumer say i am not buying it. demand destruction. next case, elon musk warning about china's economic growth. watch this. >> what we are going to see for the first time anyone can remember is an economy that is twice the size of the us, 3 times the size of the us. we won quite a prediction. what does gordon chang think of that? he is on the show coming up. washington post opinion piece suggests the leaked supreme court draft is about protecting whitenests. netflix standing up for free-speech is proof we had enough of the woke police. she is here to explain next. ♪♪ ♪♪ these straps are mind-blowing! they collect hundreds of data points like hrv and rem sleep, so you know all you need for recovery. and you are? i'm an investor...in invesco qqq, a fund that gives me access to... nasdaq 100 innovations like... wearable training op

clothing and best buy and walmart, they over order to, now they have access, it is good for us, t.j. maxxa dose of politics. the midterms look bleak for house democrats, where biden won by 10 to 15 points those people are in danger of losing their seat, he looked who is here, kelly and conway joins us. the cook political report says republicans could pick up 22 even 35 seats in the house. >> hope they are conservative, limited government. barack obama famously refer to the losses in 2010, 63 seats at the, quote, shellacking. and suffered 52 seats, lost control, lots of governorship and state legislatures. people closer to home, and regulating me. we are not focused on the quality of the candidates that are running. and not a single incumbent lost his or her seat in the house. stuart: not one? >> not a single incumbent lost and 15 seats went from blue to red. every single one of those seats under leader mccarthy's leadership went to a veteran, female, or minority or both of the above or two of the above. remarkable who is running as a republican and we see that in 2022 already. i was going