let's hear more from that interview with macy's ceo terry lundgren. tom keene asked him about the herald square renovation here in new york. you just heard julie hyman say 15,000 people have gone into it already. hear how he says it is paying off. >> this store is all things to all people. that is what we wanted to make sure of. you can get a $9.99 toaster and a $2000 louis vuitton handbag. it needs to cater to everyone and that was the renovation -- that is what that was all about. >> i am out of reach out questions. i had to bring in somebody smart and expensed. here is gilbert harrison. sellingme about what is . is a barrel getting stronger with so much more money in consumers' pockets? apparelest thing about last night and this morning was active apparel. anything active is selling like crazy -- men's, women's, and children, and also functional active apparel -- spectator. you might look active come but you are not out there doing exercises. secondly, it is clearly outerwear. it is an outerwear season for the code climate stores. -- cold climate s

terry lundgren has hit the ball, to use the fenway park phrase, over the wall. d as we have a parade tomorrow, mr. lundgren will join us on friday. he will be with us in the 7:00 hour. we really look forward to being with terry lundgren. decidesupreme court will if the obama administration went too far with new pollution rules. at issue is whether the epa should consider a cost limit on power plants. the epa says it didn't. and they are issuing new rules on ozone omissions. buy back shares are worth $2 companyafter its parent off -- deere & company forecast fiscal 2014 profits -- fiscal 2015 profits have been hurt by falling prices. analysts were looking for $2.2 billion. earnings were one point $8 billion. -- $1.8 billion, so that was amiss. go to the left pass the escalator on the second floor, bergdorf, to places where manolo blahnik builds the brand. and they go out and destroy their image on the internet. it's all the rough-and-tumble luxury brand. robert burke is one of the experts in the world on managing, saving, and salvaging brands. what does the intern

the explorer made an jonas was and nick terrible and santa was outstanding and is rumored that terry lundgreneady locked santa up for the next 12 years to get to the 100th running of the balloon fest. mr. lundgren is legendary and joins us for a back -- black friday visit. what is different this year? i guess what is different is the fact that we did open a couple hours earlier. what is different in the store i haven't missed this one else so -- also and i had a long day and night. andad a really diverse international crowd last night standingthe doors outside the store coming in. so it was just the diversity of the crowd that was here from all walks of life and i came back to the store. it was all millenial's in her 20's. millenial's in their 20's. >> what is your response to a modern bloomingdale's like look on your first floor? >> we tried very hard, this store is all things to all people and a toy wanted to make sure. you can still get a nine dollars toastertoaster -- $9.99 but you can also get a louis vuitton bag. it really needs to cater to everyone and that was what the renovation was

who better to join us this terry lundgren? he is the chairman and ceo of macy's. it is great to see you today. >> thank you, becky. happy to always talk to you. >> thank you for joining us today. i know this is a really busy time of year for you. i just wonder how you think the consumer is doing this year compared to the last few years and how the early numbers are going. >> well, i think we have all said that we expected the consumer to be behaving slightly differently by now, but they are spending more money clearly on health care and technology. there's lots of places where they're spending more money. but the first nine months of the year, you haven't seen it in discretionary items. it's been okay, but it hasn't been robust. i think the consumer is starting to feel better right about now. the gas prices are big news today and all last week. that's got to help the consumer. got to put more money in the consumer's pocket. i feel very strongly this is going to be a good finish to the year. we should be off to a good start by 2015 with some of these strong, solid

coming up later today, a first on cnbc interview with macy's ceo terry lundgren. it's a swedish name, lundgren. everybody knows that. target's ceo brian cornells is on squawk on the treat at 9:45 a.m. he's probably american but i gave it a swedish twist. >> i'm sure he appreciates it. >>> now, the group of hackers known as the syrian electronic army, a group on thursday, it displayed a message that said, you've been hacked by the sea. nadal, microsoft, the guardian, telegraph and cnbc.com were targeted. joining us now is e.j. hillbert to help us understand the risk with cyber security, especially now as many people will be missing out on the traditional shopping experience in the u.s. and shopping at the convenience of their home online. what is the biggest risk that is posed this season? >> few people pay attention to this. in fact, yesterday was the first day of the holiday scam season, as well. so the bad guys know that everybody is going to be shopping online, that they're going to do this, and this is when they up their game on the attacks and the attempts to

to talk more about that as well as the upcoming thanksgiving day parade is the ceo of macy's, terry lundgren. thanks for being here. >> thanks for having me. >> you reported earnings just a short while ago and talked about the rest of the year, taking your expectations lower. what are you seeing in the economy right now in terms of consumer spending? >> well, we had a little bit of an insight into this of forecasts back in february when we said we need to take $100 million of expense out of the business because we just didn't feel like the economy was moving in a fast enough direction. by now we all would have hoped we'd be quipping along at 3.5% to 4% gdp, but they're running at 2.5% to 3%. 2.7% i think, is the last take. that's not enough to drive a company like ours. we're a $30. retail company. we need the economy to do well. and we've been doing well relatively speaking. we took up a lot of market share. but we knew we had to do something different. we had basically flat sales slightly down, actually, in the third quarter, but we had an increase in earnings of 23%. i think that's what's

we will ask terri lundgren if it's paying off for that retailer. then later, barbie being dethroned by elsa. the hottest gift of the year. snow glow elsa dolls were one of the top sellers last night. our toy insider giving us her winners and losers of the season. "squawk box" returns in a moment. >>> oil shock. opec leaves production levels alone an the price of crude tumbles hard. >>> ready, set, shop. black friday has arrived, but the holiday deals started on thursday or even earlier. macy's ceo tells us if the early start times are paying off. >>> and what is black friday without toys? the hottest gifts that could send shoppers scrambling this holiday season. the second hour of "squawk box" begins right now. >>> welcome back to "squawk box," everybody. this is cnbc, first in business worldwide. i'm becky quick along with andrew ross sorkin and michelle caruso-cabrera. joe is off today. you're looking at a live shot of the mall of america in minnesota. as you can see a few shoppers are out here and there. the full force, though, started thanksgiv

terry lundgren shows you, don't bet against me. he talks about maybe we have different weather patterns. i think this is going to continue what has been a very nice run in retail, even as you would say, well, where is the line about gasoline, disposable income. not there. >> we're going to talk later on, in a few minutes, about what you do with jcpenney today. reporting after the bell. >> much tougher. >> men time, despite sluggish sales at mcdonald's, the nonexecutive chairman telling "fortune," quote, we're very supportive of donn. we see the leadership team moving forward with a sense of urgency. language matches almost exactly what was in that comp release. >> travel trust owns this one. feel it's a very inexpensive stock because it hasn't done anything. people probably say, why didn't they say, you know what, this is not exactly what we're looking for. the fact that they're for him -- in some cases, people will say, you know what, these guys are oblivious. i look at the last month's numbers and i see improvement. >> dramatic f

the ceo terry lundgren, the man credited with turning around macy's several years ago, said comparedst year where the numbers were above expectations they didn't expect the same shopping environment for all of 2014 but here's the thing. the news is not all bad. at the expectation is still optimistic for the holiday shopping season, which you can can almost argue began before halloween, by the way. he thinks it's going to be good. he feels the products are going to offer tnd stores are going to deliver not just sales but happy faces for all the kids out there. and investors actually seem to agree that stock did gain 5% today. you mentioned, stewart, best buy and target. in is interesting. they're offering a glimpse of black friday deals. the retailers are among the first to release sales catalogs for the start of the holiday shopping season. they've got door busters including big discounts on televisions. that's the big story this year. the retailers also have plans for ipads, video games, and then you've got walmart. they're changing course. this is the largest retailer in the countr

we talked to terry lundgren of macy's earlier who pointed out that macy's is now the eighth largest internetompany after netflix, presumably in amount of sales. >> i don't know how he measures that. >> i don't know either, he did not specify. macy's has been held up as a retailing example of doing it right online. getting aike we are lot of numbers on online. it is early for traffic numbers. i did see one comment on twitter, it's interesting, although retailers are terms ofng online, in what they have told us, and not talking about floor traffic, hard to see if that is telling at this early point or not. >> one company getting a boost from black friday is target. the ceo brian cornell announced that thanksgiving was their biggest day ever for online sales. he is with us now from the new york stock exchange. good morning to you. on blacky 10:04 friday, but given your stores were open at 6:00 last night, giving you give us a sense of how big the thanksgiving day weekend is likely to be this year versus what you did last year? >> is still very early in the day, only 10:00, but i saw some encour

. >> you have been watching bloomberg chairman peter grauer's exclusive interview with terry lundgrenairman of macy's. we have been watching what has been -- what is coming up not only for the future of technology, but business. friendly fork virgin america. the airline just went public. they raise $300 million. and the stock is up today. we talk to the ceo of that company. plus, retail of -- from a different angle. he will talk to the ceo of the home shopping network. mindy grossman. stay with us on "market makers ar." ♪ >> virgin america is taking flight today as a public company, flying pretty high so far. shares surging from the $23 ipo price up to -- and up almost 30% now. joining me is the ceo, david cush. david, thank you for joining us this morning. that's a big pop. 30% is definitely good for investors. it also leaves a little money on the table. i think we were comfortable with that. wered -- >> i think we confident with that. we had a discussion last night with our core investors and i think we wanted to ensure that investors were coming along their side and feel good about

it's been a very full and complete thanksgiving already. >> terry lundgren, we hope you have some sleepe very well keeping it together this morning. thank you so much for joining us, giving us an idea of how macy's is doing this thanksgiving holiday. thank you. >> thank you, guys. >>>. >> hope he gets a chance to shop today. he probably gets the corporate discount. >>> 38 minutes after the hour. president obama needs a new secretary of defense. the question is, does anyone want the job? and if they do, will republicans in the senate allow his nominee to get through? right now, you can get a single line with 3 gigs for $65 a month. 3 gigs ... is that a lot? that's about ... 100 app downloads, 45 hours of streaming music, and 6 hours of video playing. (singing) and five golden rings! ha, i see what you did... (singing) four calling birds...three french hens ...(the guys starts to fizzle out) two... turtle...doves... i really went for it there ya you did ... you really, really did now get 3 gigs of data on one line for $65 a month. switch to at&t, buy a new smartphone and get $150 credit p

ceo terry lundgren will join me for "sunday morning futures," 10:00 a.m. eastern on the fox news channel. hope you join me on "fox news channel.." stuart over to you. stuart: thank you, maria. what do you think, 18,000 by thanksgiving? could just be. good friday morning, everyone. it is a sea of green. stocks rise all across the board. look at this. the price of gas falls sharply overnight, putting more money into your pockets. what is going on? well, this rally has nothing to do with immigration. it has got everything to do with the lingering effects of the republican election victories and china's surprise cut in rates overnight. so log on. go to your investment account. check your 401(k). smile, "varney & company" is about to begin. stuart: oh, check that big board please. this is another record day. 130 points higher as we speak. pretty much the same story for the s&p 500. it too is on its way to a nice new high i believe, up .7%. 2067. let me show you the biggest name of them all, another new high, only just up, up more than this earlier. that is appl

terry lundgren spent more on technology. >> gas prices, you see the forecast, u.s. government's forecast for gas prices next year below $3 a gallon. that's $61 billion in consumer savings over this year. >> someone saying $40 billion in investment is going to come out of the oil patch. that is untrue. i would point out that the longer it stays down, the more people acclimate to it and start changing their schedule, start changing they do. >> believing it will last. >> right. environmentalists, hold your ears. this will be a real denton carpooling. more cars will be bought. people say the f-150, you don't have to worry about gasoline. wrong call. people use more gasoline when the price goes down. this is according to one of the biggest producers, marathon. >> interesting. >> i think this is all good for the consumer. as the consumer gets adjusted, the consumer will spend more. jc penney did not go there as much. >> walmart did say one of the things working in our favor. >> you have an incredible percentage of people on money spent on gasoline. this is a game changer

terry london, one of the few people who can cut a forecast and still have the stock roar. we've come to expect a conservative earnings from macy's. lundgren is the man with the midas touch. i spoke with the founder and ceo of the container store, who put up similar numbers and saw his stock plummet 25%. as we'll hear later in the show. same numbers, one guy goes up 5, the other goes down 25%. for macy's, it's about the exploitation presentation game. and lundgren is threading the needle perfectly. even though in a moment of peak and idiocy, i cut him from my fantasy team to pick up teddy brid bridgewater. don't worry. which brings me back to quiet money-making machine apple. most of the stocks i follow have tremendous moves like apple are championed all the way up. you hear them every day, razzle-dazzle, yeah, yeah, pound table. yet i haven't heard a peep out of many of the former loud-mouth apple analysts, for the simple reason, they don't have anything to say. that's because all they want you to do is trade apple. trade it on apple pay, which is supposed to be a bust. until we learn that almost every major bank andwo major credit cards