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

as we continue our series, we hear tonight from macy's ceo terry lundgren. >> there is my baby right here. >> reporter: he is having his own miracle on 34th street. sense he took over a decade ago, he's increased sales to $28 billion, doubled the stock price and spruced up the new york city flagship store with a massive $400 million makeover. the most expensive renovation in the company's 111-year history. the payoff would depend on consumers spending money. there were thousands waiting online for hours on thanksgiving day to get a jump on holiday bargains. >> we had the biggest back friday ever. this is an exciting time for us. we always paced the season on how it looks on this very, very busy day. we had a great macy's thanksgiving day parade, followed by 15,000 outside herald's square, waiting to get in the doors. >> we talked to customers, what is your sense of how they feel about spending? are they free spending or are they stingy with their money? >> i definitely say the consumer is focused on value and the consumer is thinking how i get the most for the money i have here, to s

and i was sitting at the opening with terry lundgren.own from the second level to the first level, and there are like 500 people lined up to get into the new apple store. and i looked at him and said, somebody forgot to tell all these people that brick and mortar is dead. and somebody forget to tell the 800 people lined up in front of his store to get in as well. so i think there's no question that apple, when they have a new launch is going to drive tras traffic. not all that traffic then goes and shops at the soft goods apparel retailers that are in the mall, but at least some of it does. >> either way, you get a percentage of your tenants' sales, so whether it comes from an apple or comes from the seller of a sweater, it doesn't really make a difference to you, does it? >> no, but remember percentage is a very small percentage of our overall income statement. 3% and 5%. most all revenue comes from rent. because while we care about sales because that's an indicator of how much tenants can afford to pay in rent because if they're doing

i have so many wonderful friends like terry lundgren. he has done a great job with macy's. we play golf together, and others. i could never have the relationship with these people if i said, let's go out to dinner, let's go out to lunch. i have made many, many deals -- actually, the trump tower site, one of the great real estate deals, i really started that with a round of golf with somebody that was very atuned to that whole situation in nashville with genesco. >> you mentioned macy's. there's a macy's not far from here. you can buy donald trump clothing. how do you pick the clothing? >> i have people that come to me and they show me. i don't spend huge amounts of time. we have really great people. macy's does a fantastic job. we have ties, shirts, sous, cufflinks. this is a trump time. anybody want it? in case of that question, i had to wear it. i used to spend a fortune. $500 on a tie. if a little piece of water gets on the tie, it's ruined. these look better and they are like steel. >> you mentioned "the apprentice" and how did that come about? >> my father was all busi

who better to join us than terry lu lundgren, the ceo of macy's. great to see. >> you happy to talk to you. >> thanks for joining us. i know this is a busy time of the year for you. i know it's a busy time of year for all retailers. 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. >> we've all said we expected consumer to be behaving slightly different now but they are spending more money, clearly on health care, on technology. there's lots of places where they're spending more money. the first mine months of the year, you haven't seen it in discretionary items in departments we have. it's been okay but not robust. i think the consumer is starting to feel better right now about now. you're seeing that in the confidence numbers. the gas prices that are obviously big news today and all last week. that has to help the consumer. have to put more money in the consumer's pocket. i feel very strongly about, this is going to be a good finish to the year. we should be off to a go

. >> terry lundgren took my head off on black friday.mber eight in retail." >> someone went to macy's and came home and said i love what i just bought at macy's and i'm going online and buying more of them in different colors. nichannel. >> thank you so much. scarlet? >> we have data coming out this morning. -- isn any fracturing manufacturing to out at 10:00 a.m. the 10 year yield is not changed too much. everyone is watching the nymex crude. dipping below $65 a barrel. is "bloomberg surveillance ." i am scarlet fu come here with tom keene and brendan greeley. >> online retailers like amazon are hoping to cash in on cyber monday. cory johnson is in california surrounded by amazon robots. what is happening behind you, cory? are you in danger? >> surely i am in danger. i usually am, not least of which because the fog is settling heavy. telephone, about an hour and half from san francisco, san jose, and sacramento. it allows amazon soon have operations in a state with a once feared to operate for fear of sales taxes. they decided to forgo

terry lundgren. he's done an amazing job with macy's. a friend of mine. we play golf together, and others, that i could never have the relationship with these people if i said let's go out to dinner or lunch. i've made many, many deals -- the trump tower site, which is one of the great real estate deals, i really started that by playing a round of golf with somebody that was very attuned to that whole situation in nashville. >> you mentioned macy's. if you go into macy's and you want to buy some donald trump clothing, you can do so. do you pick the clothing, design it? >> i have people that are really good. they come to me and show me. we have really people -- pvh is a fantastic company. they do much of it. macy's does a fantastic job. shirts, ties, suits, cuff links. >> you're wearing some of it now? >> this is a trump tie. anybody want it? but i figured in case they questioned, i had to wear it. >> i used to spend a fortune. i get them free because of "the apprentice." still, $500 ties. little piece of water gets on the tie, it's destroyed. these are li

. >> part of what terry lundgren has done at macy's that's been so committeesful is change it to just anticipates and bloomingdales. when he first started doing that, i thought it was a little bit like look at this, some crazy type of magic game. but it has worked. >> jerry doesn't look like he wants to talk about macy's at all. >> no, but what i wonder is would you stick with the saks name and kooip take that brand and push out some of the other brands along the way? >> i don't think so. earlier in my career when i was at target, i over-shaw marshall fields. that was a great brand. when they changed that name, i would not have wanted to be in chicago. >> that is truly a crown jewel of that facility. and you walk in there, and it's called saks fifth avenue. that's the fifth avenue store. and you walk in and you know you're in saks. i don't know how you update, but you see the people with the perfume and the entire -- it's almost like a religious experience. >> it's a great store in america. i haven't even started working there yet. >> they've done a fantastic job. and i know that we c