tj maxx. perfect example. walking in and buying products are massively at a discount won't change. throws a little more insulated. so they have to be there. nordstrom as well. they have the nordstrom rack. there's another play you can look at. but in general, you're right. consumers have shifted the way they spend. >> this is not something new. when we look back and you look at the trump effect. you look back after the election. everything ran. we were all talking about the weak know of department stores. what brick and mortar look like. if you look at amazon, pete started talking about it. february 2, reported earnings. this is one that people will get a discount on. it will get lumped into retail. it will get sold off. there is everything before trump that will still be weak. >> is this true confirmation that there is in fact real problem with department stores? if you got the consumer confidence at a 15-year high, you have all the animal spirits in the markets, and the consumer is still not going to the stores, what more could you ask for with a potential tax cut looming? >> how

the off-price retailers like ross stores, tj maxx and burlington stores are at less risk.t is right on track thisis may suggest there's weakness, there could be buying opportunities for the retailers. deserve tolers may be down on the kohl's and macy's weakness. lower. course and coach the weakness was in the accessories business. sees a lack of compelling catalysts for coach. actually beat same-store sales for the month of december, up 3.3%. upversus the estimates of 2.7%. this was driven by rising gas and the fact that this company is executing well. they had a good holiday quarter. david: besides retail, the big news of the day is the drop in the u.s. dollar coming as the fed minutes indicated uncertainty over the future of the u.s. economy. by binkyined now chadha, chief global strategist for deutsche bank. let's start with the dollar and what happened overnight. is this an indication of something to come, that the dollar will start weakening again or will it keep rising? binky: the way you want to think about it is, whether you are talking about u.s. dollar were u.s.