tj maxx has bucked the trend. off-price has been a big area.oth revealing that they may be amazon proof. >>> president trump reportedly revealing highly classified intelligence information to russian officials during a meeting at the white house last week. this according to the "washington post" and the "new york times." the information is said to have come from a country that's a partner with the u.s. on anti-terrorist efforts and has not been shared with allies because of the sensitive nature. h.r. mcmaster coming out last night in front of the white house to reporters denying that. >> there's nothing that the president takes more seriously than the security of the american people. the story that came out tonight as reported is false. at no time were intelligence sources or methods discussed. and the president did not disclose any military operations that were not already publicly known. >> we have a lot more from washington on this one in just a few moments. as for market reaction, you saw the weakness in the dollar, that's the one place you

>> well, the one spot i would take objection to here, and we had a discussion about tj maxx, i've never seen a bear market hit a group without the best getting hit. that's tjx and ross stores over the last couple of years. they act pretty fatigued here. tj maxx against the s&p today, as well as ross stores, i'd be a little bit careful there ahead of earnings. they hit all the bad ones. ultimately they get to the good ones as well. >> chris, how about thinking about the moving amazon and some of the peers leading the market, like facebook. what about the ownership here? just passive index pushing these things up? or do you think dedicated players own this and maybe don't want to own a lot more? >> i think certainly we have to identify who the dominant investor is. as long as we identify the rules of the game and we're okay with it, we have to acknowledge it's probably been pretty much etf driven. amazon is like in 300 etfs. that's the dominant investor in this kind of environment. those are the rule of the game. we have to follow the trend. you've been rewarded for oeng this stock own in

the owner of tj maxx has reported soft sales growth — further clouding the outlook for the us retailrofits will decline this quarter — sending shares down more than 3%. the forecast highlighted the challenges facing the industry. stores are under increasing pressure from online competitors. a pair of diamond earrings has been sold for a record price at an auction in switzerland. the flawless pear—shaped diamonds, one pink, the other blue, fetched a combined price of almost $58 million. iam i am expecting their arrival quite soon. . . i am expecting their arrival quite soon... more and more jobs look set to be automated in the nearfuture, something that's concerning workers and politicians. but how capable are the latest machines, and are they really likely to replace humans altogether, or help us all be more productive in our work? rory cellan—jones reports from the innorobo exhibition in paris where the world's leading robotics firms and startups are showing off their creations. from around the world the robots have come to paris to show off their new skills. this one responds to th

stick to your tj maxx. most different times it does really well. one point, with oil going lower, okay. i'm not sure this is an actual boone for the consumer. when you think of how many jobs we lost, when oil got cut in half over the last few years. then you think about the tax cuts and what's going on with health care, it's not exactly great for the low end consumer when you think about it. for me, i see more head winds for the consumer. >> in other words the reason oil prices are lower, the same reason why i think apparel is lower. technology is making a major disintermediatiation bringing a lot of things to market that couldn't come to market. i think to say the consumer i think is getting a benefit, which is your first point. you say not. we have been talking about this story two years, i think you get to a place where the consumer, the benefit to cheaper prices and apparel, they don't have the same wage growth t. reality is they still spend as they have been, but i don't think that that changes any time soon. >> you are a long-time investor to

even tj maxx was disappointed with its numbers. depot, still finding a way to get it done.is because of the home improvement sector? sen. mcconnell: the home market is pretty old right now. most homes are about 30 years old, so people are willing to spend on that aspect of their lives. but things like apparel, or a price war with walmart or amazon, things get dicey. , thank youy rupp very much. coming up, wall street executives and lobbyists may be .ecoming more positive we take a deeper look, next. this is bloomberg. ♪ joe: "what'd you miss?" instead of covering over president trump's big bank breakup talk, wall street executives and lobbyists are getting more confident about ditching boules that have annoyed them for years. for more, let's bring in bloomberg's max abelson. max, executives on wall street feeling pretty good. what, specifically, did they expect to see happen to me that regulatory burden? max: the best way of saying it? everything they're worried about trump doing, which is trump's big threat that he would wake up the banks, they don't think that will happen

macy's, tj maxx, i mean, all the big department stores. >> name your store, they've got it. it's really something for everyone this memorial day. >> if you want to get the good deals is it better to go to the store in person or is it better to go online? >> sometimes it's better to go online. you get additional savings of 10 to 30% off. macy's in you spend $49 you get their free shipping. at blooming dales you shop online you get an additional 20% off, so you're going to walk away with stuff from the clearance bin for next to nothing. >> and better inventories too, because it's all lumped in one spot. >> exactly and you don't deal with the traffic either. >> i here mattresses that could be 50% off. i'm kicking myself because i have one being delivered this week. >> 50% is what they're going for this memorial day. sears has a set and in some cases you can do better. 50% off and in some cases 6 o% off. >> is this a good time to be buying household appliances? >> in familiar, refrigerators because this is the time of year when the manufacturers move the old models off the floor

and tj maxx. but there are some downgrades.nk taking down jc penney saying their bull case is not there anymore. they thought it would outperform. they downgraded kors. they upgraded coach which has been a better performing retailer, saying it's a triple threat there when it comes to the brand, the brand expansion. and there are winners, but after a week like last week, jc penney, nordstrom's, macy's, a lot of market value is destroyed in a matter of two days. >> i think that's what you're left with in retail, finding the exceptions to the dominant theme of top line decline and jc penney shows how many value traps there have been in this space for a while now. all the big kind of main line department stores, the -- basically the jc penney's, the kohls and nordstroms they're gravitating to one half sales. i don't know where the market is saying, but they're saying they're not going to grow fast. >> not at all. >> a matter of managing the -- >> some are looking at the cost to ensure them against default goes up. we're not talking

what is the read on tj maxx? lly: t.j. uarter has been star in the retail world, really eating at these department stores sales. t.j. maxx to come in lower than to mean, that seems that there must be something bigger out there going on now. alix: do you feel it is a market share issue or does the industry will issue -- woe issue or a t.j. maxx issue? be a badt could quarter for t.j. maxx and they will continue to t.j. maxx create be pushing those -- could be pushing those limits. you are seeing other big brands like ralph lauren, coach tried to pull out of t.j. maxx to reestablish their brands. maybe that could be hitting t.j. maxx or maybe it is this general retail malaise. david: who is doing well besides, improvement? shelly: that is the question about t.j. maxx pick if you had asked yesterday, i would say t.j. maxx. as you pointed out, there are still growing sales, unlike other folks. i am curious to see what the reader is on tj maxx. always theamazon is catchall, doing well. alix: retail does go to d.c. secretary mnuc

outlets or stores like tj maxx, unique small business retailers and on amazon.arl, over to you. >> courtney, busy day for you. thank you so much, courtney reagan. post 9, joining us, rbc capital markets. wish it were under slightly different circumstances. given everything jcp has been through to say it's the worst price since the ipo in '78 says a lot, brian. >> it does. what the market is saying, these business models are broken. the question is, what will be the order of chapter 11 and chapter 7 filings for a lot of these department stores and so i think looking at enterprise values right now, trading at three, four times and free cash flow yields at 15 to 20% tells you the market don't believe a lot of these companies will be around five to ten years from now. >> and guys like lambert will speak out, rightfully so, saying talk like that isn't helpful. >> i actually agree with brian. i do think when looking at our store models, jcp and sears are the two most likely to have a high default -- high probability of defaulting. and what's interesting is that macy's

tjx is the parent of tj maxx, marshalls and home goods, they're actually very good., almost 4%. sales at dick's sporting goods off 11%. ouch. but some encouraging sales numbers from staples. they get rewarded with the stock moving lower by 2.25%. it's been tough going for the retailers each though staples did pretty well. strong housing market though, we've been talking about that, helping home depot's bottom line. up nearly 2%. and that does reflect what we're seeing in the housing sector. hackers, they're holding disney's latest pirates9 of the caribbean installment for ransom. the pirates have pirated the pirates. [laughter] plus, more pirates. the ford motor company cutting 10% of its work force. remember, ford lost market share to tesla and general motors. the stock, though, up half a percent. maybe investors like cost cutting. let's bring in for this extravaganza, liz, shaw and mike murphy. thank you all for being here. a a lot of political turmoil in washington, but we are seeing green shoots with wages, housing and hiring all picking up. shaw, this is based o

it's the tj maxx that are all taking market share from different angles.ores are kind of fielding punches from just so many different competitors. >> we've got nordstrom coming up after the bell today, matt. do you think that we're going to see any light at the end of that tunnel, by chance? that's a little bit of a different consumer because of the higher income, but it's pretty much the same game. >> the problem with nordstrom is that that brick and mortar store historically has meant more to the consumer than almost any concept we cover. so for 80% of their sales right now is coming from brick and mortar. only 20% online. there's no way that years from now that online percentage is not higher. but with only 9% differentiation, literally 91% of what nordstrom sells is brands that are sold in many different venues other than nordstrom itself. the problem is in that translation from that 80% brick and mortar, which most likely is 70 or 60 longer term, i think they stand to lose more than than almost any other retailer out there during that transition. >> y

ross stores, tj maxx, burlington. and the fact there's excess inventory beyond just normal seasonal things that move hoar and there, vthere's such excess these guys are going to be buying by pennies on the dollar for these goods, whether it's home goods. >> target -- came out this morning and upgraded their outlook. why buy a sector that is a falling knife. if this thing had been upgraded, do you agree that people will own retailer, regardless of the call you're seeing of the whole sector, which you and i agree on, there are still investment management people who are going to own retailers and probably, they're going to cluster into the handfuls. >> i don't own it personally. i hate this idea. i don't think you can see well, it's got risks, o i'm not going to own it. the idea that the stock has risk, that's exactly where return comes from. can't just paint nefrg the sector and say it's all bad. if you know how to look for them. >> at the end of the day, this is probably not a great place to deploy capital for the next

staples, tj maxx. we'll hear from urban outfitters after the bell.ticipate slowing retail sales growth. you can see evidence this retail ice age, people transition spending more money on line. etfs are posting $70 million outflow. that is just on monday. that is nearly a quarter of the assets for that particular etf. that is staggering. liz: it is badded. thank you very much, lori rothman. you get a revealing what billionaires are buying. they trickle in. they started coming in yesterday. one company is being snapped up with the shares of it you may never have heard of. investor carl icahn acquired a new 19.8 million share stake in conduit. so did david einhorn's green light capital. conduent. appaloosa invested $200 million in the bank of america in the first quarter. we found conduent very fascinating. janney montgomery scott chief investment strategist mark luschini will tell us. first of this conduent name, do you find that very interesting. they're selling apple to buy it. >> hardly a name you ask somebody on the sidewalk if they knew he it, tha

we're talking walmart, home depot, tj maxx and deer and pete sees unusual activity from the options market in yet another big name. see if this leads the stock higher or lower? the heem are back in two minutes. at fidelity, trades are now just $4.95. we cut the price of trades to give investors even more value. and at $4.95, you can trade with a clear advantage. fidelity, where smarter investors will always be. and at $4.95, you can trade with a clear advantage. our 18 year old wase army in an accident.'98. when i call usaa it was that voice asking me, "is your daughter ok?" that's where i felt relief. we're the rivera family, and we will be with usaa for life. the shlike a bald penguin. how do i look? [ laughing ] show me the billboard music awards. show me top artist. show me the top hot 100 artist. they give awards for being hot and 100 years old? we'll take 2! [ laughing ] xfinity x1 gives you exclusive access to the best of the billboard music awards just by using your voice. the billboard music awards. sunday, may 21st eight seven central only on abc. >>> shares dropping as they anno

string of disappointing earnings reports from one retailer with tj maxx reporting the worst same-store sales growth in two years. john, it seems like for these guys, it is amazon's world and we're just all living in it? >> melissa, easiest short of all time, these retailers. i sat with terry lundgren on black friday with sears. everything will be fine. this is inventory issue last year. this is massive way people buy things. amazon is hungrier than ever to go into apparel. game over for all the mall retailers. melissa: james that is stark or bleak, or great if you're an online retailer. but that is definitive. what do you think about what john said? >> it is amazing, 20 year anniversary of amazon going public we're having the same debate 20 years ago, can these brick-and-mortar guys figure out how to deal with online competition. obviously a lot of them still haven't. walmart is making a pretty aggressive effort. i wouldn't say game is over. this is an industry still with declining barriers to competition. thank goodness there is not a lot of regulation on the internet. hard to, people

marshals and tj maxx have got this down to a science. >> it is something that they have to be very carefulre not expanding as a standalone store. will that pull away share from their full-price shoppers as they get exposed to backstage? >> >> i want to talk to about abercrombie & fitch. you said it wouldn't be such a bad buy if you were looking at it. what are your thoughts on this one? >> that's an example of a retailer that hasn't been relevant since the 1990's, but surprisingly, if you look at the price of where they are at, that stock has come down so much to the point where it might be an attractive asset for someone, mainly because of their hollister stores. teenagers still like hollister. that is growing. the secret fashion a thing right now is people are still shopping at hollister. they are secretly buying jeans from american eagle, and this is what teenagers are doing. how to could figure out buy hollister and do something more creative with the abercrombie assets. scarlet: abercrombie & fitch the brand itself is out. hollister is fashionable. doesn't it come down to the fact tha

i think you have to own stocks which offer consumers deep value such as tj maxx, ross, walmart. >> stacyay not be specifically in your universe, but what is the process now for evaluating whether they're serious about a new category? we have a report out today talking about taking steps to get into pharma. >> yeah. i think amazon is in everybody's universe these days. and yes, they are looking at pharma. and certainly again, let's think about who is in the cross fire here of pharma. it's walgreens, cvs, cvs bought walgreens and it's a traffic driver. as amazon goes into each category there's no hiding. certainly you look at companies as oliver was saying and everybody is trying to do the best they can. they're trying to execute. but that doesn't mean investors want to be on the journey of this execution trip if prices and margins are going to be the battle here. >> oliver, do you cover ralph lauren? >> we do. we do. i'm -- >> i wanted to get your quick thoughts -- i wanted to get your quick thoughts on the new ceo. they took a 25 year veteran of procter & gamble who last ran the beauty b

which may bode well for tj maxx and ross stores.art, target, many others next week. so the wreck may continue next week. carl? >> all right, courtney, thank you very much. >>> joining us this morning is former bloomingdale ceo, dave gould. >> nice to be back with you, carl. >> so we're back in this conversation about -- i don't know. existential threats at least to the department store, to the wholesale model of merchandising. does this week's numbers tell us anything different? >> no. i don't think it's a surprise at all. i think that when all retail gets lumped together i think that's a problem. you know, go back to last week or so. disney came out with their earnings. they were up better i think than 4% in the parks. the theater business was way up. as was said earlier on your show, apple's all time high. i was walking down here. i go by the apple store on 58th street. i mean, it's just hopping and it's 9:30 in the morning. you walk down madison avenue, there's louis vuitton with a pop-up shop for jeff koonce merchandise that's e

every retailer, which is why you see divergence between companies like amazon, home depot come at tj maxxed because they're not giving consumers a reason to shop in their store. alix: for the retail sales numbers today, you see that tensely tax returns are coming in so we are seeing more spending. watch was revised a little bit. -- march was revised a little bit. that doesn't seem to me that it's really bad. it seems to me like it's stable. as shelley points out, it's individual retailers that get hurt. seema: there was the easter shift, so that pushed some spending into april versus march. a big driver of retail sales was auto sales. we heard from the big guys last week and those were very weak. i do not know what would drive it going forward, what's going to drive this shift. it calls into question what many of the legacy retailers are doing. all their initiatives may not be bearing any fruit. --re may be a relative relevancy question for these retailers. alix: fortunes as an example. -- nordstrom's is an example. and theywants online do well, but they don't get compensated for it. seem

component raised earnings outlook for the year stock to watch, t.j.x just out mix result apparent tj maxxe that stock down more than 5% premarketing. shares of addictidick's sportin goods clob erred down 13 1/2% look at lowe's. they are giving new meaning to the word super store employees at improvement store may have super wears thanks to wearable robotic suits the exosuit lifts a five gallonan bucket of paint four others tested in virginia, after the testing will decide whether to expand use to other stores better than sore back, this one delta wants to give passengers face time testing favorable recognition software that will allow priority pairnls to use self service kiosk to check bags scan passport if that mach matches your face on your way tested this summer spending 600,000 dollars on machine we should say this technology is making its way in coms and border protection systems maybe the fewest for you. >> awesome coming up next rocking the auction block from michael jackson's jacket to the hat from guns and rosees we will have a preview what goes on sale today back in a moment. ♪