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maria: we are back with former macy's ceo and chairman terry lundgren.ave made some comments in the past about brick and mortar still needing to get smaller, in terms of capacity, real estate. you think, where are we in that? >> we are a long way from getting the supply and demand back in line. maria: too much capacity? >> too much capacity. with real estate comes inventory so there's too much not just physical space, there's too much inventory in the system and that creates pricing issue over time. there's too much inventory. the only way to get rid of it is mark it down. that becomes an off-price issue. macy's took the position a couple years ago while i was there to reduce 20% of our stores. it's a hard decision because the stores are all cash flow positive. we got rid of all the bad stores a long time ago, over time, but this was a big decision. but we knew that just watching the curve that the stores were losing traction on sales, on foot traffic and over time, you're not going to be proud of those stores. if you're not proud of those stores, you wo

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stay with us, terry lundgren is with us.t back. >> it's back to school time for parents and kids, is so what does that mean for retailers? >> back to school is very positive, and that's generally a good indication for holiday sales. >> more with maria's interview fact is, every insurance company hopes you drive safely. but allstate actually helps you drive safely... with drivewise. it lets you know when you go too fast... ...and brake too hard. with feedback to help you drive safer. giving you the power to actually lower your cost. unfortunately, it can't do anything about that. now that you know the truth... are you in good hands? my twhe didn't have anyas an autisfriends as a result it broke my heart. ♪brother let me be your shelter♪ that was the inspiration behind my non-profit "score a friend" go! educating people to include the people with differences is so important because when jacob's included he feels like he can succeed in life and he feels like he actually has a purpose. designed to save you money. wireless networ

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forecast as well joining me terry lundgren former ceo of macy's thank you for being here how would you characterize backdrop in terms of retails consumer spending. >> would i say encouraging consumers spending confident feeling good about buying discretionary items almost across the board retail rebound is here, and they have not only we have seen good comp store sales great earnings forecasts that have been raised in terms of expectations going forward so i think a really good picture. >> interesting because earlier this year we were worried about consumer, consumer feeling pressure this is really important, that is going to slow down the economy we didn't see that at all we are seeing pretty good back to school season too. >> for sure, you know i think what we saw maria we saw a monthh number of things consumer enhancinging habits baby boomers replaced in numbers by millennials spent differently so had to deal with that in your forecast, number one, number two is you saw a consumer that was a little skittish weren't insurer where if in market where the market was going

former macy's former chairman and ceo terry lundgren will be her guest.an watch my show making moony with charles payne every night 6:00 p.m. eastern. a start smart tune in week days at 6:00 a.m. eastern for "mornings with maria." that will do it for us. thank you for watching. ♪ >> i'm bob massi. for 35 years, i've been practicing law and living in las vegas, ground zero for the american real-estate crisis. but it wasn't just vegas that was hit hard. lives were destroyed from coast to coast as the economy tanked. now it's a different story. the american dream is back. and nowhere is that more clear than the grand canyon state of arizona. so we headed from the strip to the desert to show you how to explore the new landscape and live the american dream. i'm gonna help real people who are facing some major problems, explain the bold plans that are changing how americans live, and take you behind the gates of properties you have to see to believe.

coming up in just a moment, form macy's chairman terry lundgren is my special guest.will weigh in on the current retail backdrop. first, the fox business newsroom has the big headlines, everything from wall street to main street. reporter: a bull run for the ages on wall street. this week marked the longest bull market run in u.s. history. since the current run started on march 9, 2009, the s&p has

terry lundgren, airing on maria bartiromo's "wall street". thanks for having me in your homes. charles payne is here now with "making money." . charles: good evening, i'm charles payne, it was a record day on wall street, the s&p 500, the nasdaq and the russell 2000 all hitting new all-time highs. this as president trump and jeff sessions continue to spar. we're going to break down the impact that firing the attorney general could have on the midterms. but first, the economy. it's firing on all cylinders. unemployment levels at all-time lose, consumer optimism at all-time highs. today the federal reserve chairman jerome powell saying more interest rate hikesort way, but he's going to do it in the way that did not spook the market. and president trump tweeting -- joining me now on the phone, foster friess, billionaire investor, former wyoming gubernatorial candidate. foster, thanks for joining the show. >> charles, always a delight to be with you. i love you, man. tell me what's going on? charles: you know it all. and i think a lot of people in recent years associated with you p

. >> you don't want to miss maria bartiromo's interview with terry lundgren, airing on maria bartiromo'sanks for having me in your homes. charles payne is here now with "making money." . charles: good evening, i'm charles payne, it was a record day on wall street, the s&p 500, the nasdaq and the russell 2000 all hitting new all-time highs. this as president trump and jeff sessions continue to spar. we're going to break down the impact that firing the attorney general could have on the midterms. but first, the economy. it's firing on all cylinders. unemployment levels at all-time lose, consumer optimism at all-time highs. today the federal reserve chairman jerome powell saying more interest rate hikesort way, but he's going to do it in the way that did not spook the market. and president trump tweeting --

maria: coming up this morning, terry lundgren is here, the former executive chairman and ceo of macy'ss morning to talk about the retail scene. plus, jason cha fitfits is joing us this morning, along with mark penn who is out with a good op ed in the hill. we'll talk about that this morning with hum. first, this top story, war of words, the president is slamming jeff sessions this morning via twitter. he says this, the department of justice will not be improperly influenced by political considerations, quote, unquote. jeff, this is great. what everyone wants. looking to all of the corruption on the other side including deleted e-mails, come eliy lis and leaks, fisa abuse, christopher steele, the clinton foundation, illegal surveillance of the trump p campaign and so much more. open up the papers and documents without redaction, come on, jeff, you can do it. the country is waiting. joining me right now, a former u.s. attorney general under president george w. bush, alberto gonzales is here this morning. it's good to see you this morning. >> good morning, maria. maria: your reaction to t