. >>> when we come back, an unhappy holiday for tiffany and macy's ceo terry lundgren.ook at the premarket. big earnings week stuffed into four trading sessions. some 30 s&p names and seven dow components. more "squawk on the street" in a minute. ♪ light piano today i saw a giant. it had no arms, but it welcomed me. (crow cawing) it had no heart, but it was alive. (train wheels on tracks) it had no mouth, but it spoke to me. it said, "rocky mountaineer: all aboard amazing". >>> tiffany shares down in the premarket. the luxury retailer saying holiday comps down 5% worldwide, including an 8% drop in the americas region. lower tourism spending, the weaker dollar and sales calling it to cut guidance for the next year. >> i was blown away. remember the last time they talked, everyone got excited. they said some positives. i was on this show, i say why do they do that? why do they set themselves up? do they know something about the dollar? this is one where literally it's rich people coming to america and they buy tiffany's, but they're not because the dollar is too strong. t

reporter: chairman and ceo terry lundgren released a statement, saying we're making adjustment to become hor efficient more appreciate and productive. the flagship store will stay highway patrol but open butsome stores in new jersey will stay closed. >> i think they should try to keep the stores open. >> i think that macy's is one of the best, you can get anything that is stylish quality. >> a time where inch needs jobs -- where everyone needs jobs. >> "charlie hebdo" is -- chairman and ceo hoping to save 400 million with had consolidation move, they hope sales, sharon crowley, "fox 5 news. dari: chipotle surge federal investigation, they were served with a grand jury subpoena in california, they are looking to how the company handled the norovirus outbreak at the simi valley restaurant last year. >> he'll code inspection -- health cold inspections found numbers violations. dari: chipotle has been hit december. steve: on long island has been saved it dates back to 1672, taken open of over by two caters companies, it will be remained open. baseball hall of fame with ken griffey jr., he wa

ceo terry lundgren set low expectations going into the holiday quarter after releasing third quarterults. still, macy's is lowering its earnings guidance for the fourth quarter and full year for the second time. but macy's is making moves to improve operations and save money, including cutting more than 2,000 jobs. but many analysts are still bullish on macy's, focusing instead on the 4% dividend yield, strong free cash flow, already steep share declines since august, joint venture real estate exploration, and strong online performance. it was a tough holiday for finish line. disappointing sales leading the retailer to lower its earnings guidance. the athleticwear retailer will close a quarter of its stores over the next four years. and president sam sadow will take over as ceo at the end of february. the unseasonably warm weather" of the country pushed expectations lower for many retailers as the holiday season wore on. but for some it wasn't as bad as feared. jcpenney's holiday sales improved nearly 4% over last year, and the department store also expects free cash flow to be posit

terry lundgren is not that bad. if you were going in there, it's like a canadian goosehead, but it's meth b it's better. >> 12 degrees matters. >> it's what you do. i got a pair of gloves yesterday, my hands were cold. >> you are going to return the gloves? >> no nice gloves. >> you can get the warmers, the things to stick in the gloves. >> my gloves are cool. >> i'll take a look. >> maybe during the break. i'll show you now. i got j. crew. the j. crew jacket that was a must. >> is that keeping you warm? >> mickey. look at these gloves. look at these. >> those are nice. >> discounted. got these for a song. >> did you? >> let me see those. >> but they didn't keep you warm. if it doesn't fit, you must acquit. >> geez. i'm talking about bargains. macy's will clear out that inventory far faster than people realize, does that mean a great quarter? no. but should the stock be at 35? we delivered macy's -- alph alpha, 72. did not split 2 for 1. >> no, it didn't. >> tom brady calls terry lundgren and says what should i give

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ceo terry lundgren says that 80% of the weakness in the comparable sales for the quarter came with winteroods, scarves, abouts. that is contributing to the weather. orders actually improved 25% over last year. macy's shares are higher after the bell. >> maybe they were listening to guy and carol. >> we knew that news was coming. we had to get it out there. and nowe can start anew. meg tirrell is here with more. >> you are seeing valeant rising on this news. a little certainty beginning forward. mike pearson was hospitalized on christmas with severe pneumonia. and last week they said they were appointing the office of the ceo plus three people on the board to oversee that. there was some criticism. now they're saying he's still hospitalized. they are pointing immediately an interim ceo and their former cfo. he left the ceo post pretty recently. people still want mike pearson in the ceo role and nothing would make them as happy as seeing him back there. some folks think, though, investors are saying maybe he's not going to come back. not buzz of his health, necessarily, but maybe he just do

if you were surprised at the retailer's same-store sales, ceo terry lundgren did set the low expectationsng into the holiday quarter after they released their third quarter result. they are making some quick moves to improve operations, including adjusting this as part of $400 million in expense savings. they are lowering the earnings guidance. this is the second time they are doing that. many are still bullish. 4% dividend yields and joint venture real estate exploration. plus, there was that strong online performance over the holiday season. jcpenney reporting holiday sales up 3.9% reaffirming its ebidda target. upping the lower end of the fourth quarter guidance range. children's place, quarter to date comps up 7.3% and increasing fourth quarter guidance. not all positive. finish shares tanking more than 11%. it is naming the president to the role of ceo at the end of february tichlts also lowering its guidance and announcing 25% of the stores will be closed over the next four years. costco shares are lower despite posting u.s. comps. it is a mixed bag for retail. continue to be very p

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if i was terry lundgren, running macy's or bloomingdale's, i would say, are you kidding me? have activists knocking on my doors, where are your margins? but jeff bezos says the investors do not understand. i spoke to jeff bezos yesterday and he said there could have been more comfort on earnings calls. that is not what investors are there four. david: barry diller said this would be the most successful company in history and jeff bezos would go to number one as far as the richest man in the world. what do you think? matt: i do not think that is that far off the mark because his company is disrupting. it is creating this endless i'll of limitless choices, and that is such a powerful commercial strategy, which is what you are talking about right here. he is not letting up. he is pursuing this. stephanie: when you describe it that way, if i close my eyes, that is what walmart was it walmart first came onto the scene, it was, we have never seen this before and it is incredible. if you invested in walmart from the beginning, happy days. you are shopping at neiman marcus. matt: i

months, at a time when activists are knocking on retailer stores, you saw david einhorn with terry lundgren have bigger mistake does the walton heavily -- multifamily have? shannon: the walton's control the majority of this company. unlike a lot of big retailers, walmart has some time. the family is very involved in the company and the board. the ceo isions that making, you can guarantee the ball family has signed off on those. as long as the ball family is happy, the ceo will have some time to get his job done into what he needs to do. david: have a over expanded? barry: are we saturated? go to three, can home depots, five minutes in any direction. as walmart done that? shannon: walmart says 90% of americans live within 10 minutes of a walmart. of the reasons they were opening new stores was the u.s. sales growth was going and they were saying where can i put another supercenter? andd: shannon pettypiece barry ritholtz. thank you for being with us. the central bank begins its two day meeting on "bloomberg go." ♪ david: the fed's next move, when policymakers start meeting today, i much of a