in 2007, tjx announced what was then one of the largest known data breaches. according to the ftc subsequent complaint against tjx, a hacker obtained information from tens of millions of credit card and debit payment card information, as most of the personal information of approximate 455,000 consumers. the ftc alleged that tjx engage in number of practices that, taken together, were unreasonable, such as lung network administrators to use weak passwords, failing to limit wireless access to instore networks, not using firewalls to isolate computers processing cardholder data from the internet, and the vetting procedures to detect and prevent unauthorized access to its networks, such as procedures to update antivirus software. in addition to our enforcement efforts, the commission also undertakes policy initiatives to promote privacy and data security. such as workshops on mobile security issues and child and senior id theft. and for those consumers who may have been affected by recent breaches, the edges is posting information online about steps they should ta

tjx and marshal's. no one switched. >> i think the difference though these guys fessed up early. there was never this sort of conspiracy that the company knew. melissa: they knew on saturday, on the saturday of thanks giving weekend. >> that is my point, melissa, the other companies talked about they fessed up right away. they paid money right away. they were sort of contrite right away. what did target know and when did they know it? all of sudden this has become watergate. be honest with your customers. be honest with them. >> i think you underestimate the customer's long term impressions. other companies will get hacked. walmart will get hacked. >> that is the excuse? melissa: you know what this is? target has other problems. have you been to their website? 1997 called and they want their technology back. it is not a pleasant experience. unlike charles, to ahead, charles. >> after mizrahi, before target was target. there was a major difference between target and walmart. melissa: i still think there is, jonas, is there still a major difference. >> they haven't done anything un

. >> she is my channel checker at tjx. >> really? >> yeah. >> tim, is yokoo a buy?u think there's going to be another player, where these guys were dominating, you stay out of the way for a while. the chinese internet names are ripe for bad news. but this is a franchise. and if you look at what happened with youtube in this country and what it's meant for growth, this is a place you want to be. and you stay near this trade. stay near baidu, too. >> what does that mean? >> these guys, you look at what happened, the growth of mobile in the video space in this country, this is playing out in the chinese space, as well. there's no question, yokoo is going to continue to be a player. can baidu continue to play and overtake them. there's room for two to explore. >> you're watching it but not buying it. >> you don't buy it today, the way the stock has moved. >> i know. i want to be clear. >> stay near the trade. >> near the trade, to me, doesn't mean that much. i don't know. i'm a layperson. i don't trade. near the trade is. >> thank you. >> anyway. resume. b.k. -- >> tim.

so companies like tjx, ross as well as macy's, both off prices as well as full line department stores so the competitors are probably going to get comps from all those kinds of stores. it should be pretty fragmented where they resume the comp. that's what i would say. it's about bringing the people back to the store, too, who love the brands, who are actually looking for reasons to buy. they just didn't have the fit, the size or they had home wear that was much too expensive. >> got to leave it there. thank you very much for joining us. once again, your price target is $11 with a buy on jc penney. >>> we are also following a developing story on herbalife. activist investor bill ackman is taking another swing at the company today. he is hosting a conference call about the company's china business. eamon javers is monitoring the call for us. we will bring you any news as it develops but in the meantime, why not bring in herb greenberg and the premiere of herb cam as well. you're looking good out there. what specifically are you listening out for on this call? >> well, i think you are re

. >> it will be a good thing if you want to buy special orders, if you're tjx, ross, burlington coat,el than the full-price channel. we're seeing that. we saw averages of about 55% off for presidents' day. we're back there now at 45% off of regular price. we've seen aggressive discounting already for spring. >> who's cancelling, the big department stores? >> we don't actually know who's cancelling because they won't tell you that sort of information. that's really all there is to cancel, the big department stores would cancel. >> maybe a gap. >> inline guys that are big enough, can do that. >> when it says 45% or 55% off, off of what? are they losing money. >> if they can sell it at 30% off, they make full gross margin. any time they're deeper on 30% off, it doesn't mean they're losing money. but they're not making what they anticipate. >> normal margin is 40.6%. they started this year, gross margin, this year and last year. if you're in the specialty store business you need to be at least 55% gross margin. so you know, it varies among the various players. if you're costco you can mak

the tjx's, the ross stores will open up 200 stores per year. >> what do you remake that big space with it a fulfillment center. showroom is very important. i think someday you'll see amazon rent space in order to show case their kindles and fires. apple stores have had huge success being brick and mortar. >> thank you very much for coming in. >>> apriling and comcast working on a deal to enter the streaming television services businesses. those actions and more with a little, right after the break. >>> at the top of the hour we speak with senior director and "squawk" market master peter fisher. "squawk box" will be right back. goal is to grow. gotta get greater growth. growth? growth. i just talked to ups. they've got a lot of great ideas. like smart pick ups. they'll only show up when you print a label and it's automatic. we save time and money. time? money? time and money. awesome. awesome! awesome! awesome! awesome! awesome! awesome! awesome! (all) awesome! i love logistics. [ girl ] my mom, she makes underwater fans that are powered by the moon. ♪ she can print amazing things, righ

ann taylor, l-brands, tjx everybody here. the nonaffluent consumer isn't spending much.th or two, now that the weather's going to get better, some pick-up in the next two months i'd be very concerned about the future of retail right now. the one bit of bright news i don't know if you guys mentioned herman miller we're talking furniture, they actually gave guidance above expectations, there's the group, guys, home furnishings that is doing better than everybody else. new indications $13.50 to $14.50 and priced at $13 for q-2. >> thank you very much, rick santelli in chicago, you've been a busy man in the last 24 hours or so. what's happening at cme? >> i tell you what if you are an aficionado of china and trade the yield curve you're in shangri-la. let's look at a year to date of ten-year note yields and the reasonable i'm picking year to date so you can see how important and how well traveled the ground right below this 277 yield was. and how key it will be should we settle anywhere near where we're trading today. right now for the week, it will be significant. but let's

tjx and ross stores alone are going to grow 200 stores per year, so you have a lot of retailers doing very well that more than offset the store closures that you see. overall in the next two years 82,000 new stores are going to open up across the u.s. >> you're not that concerned. every day we sit here and talk about fashion-based retail malls, for example, that seem to be getting hurt by amazon which we just talked about, by everybody doing things on their mobile phone or even if they go to the store, actually not buying something there. you're not seeing that in your business? >> of course, e-commerce is a factor. but, again, you have to keep it in perspective. total credit card sales, only 6% are internet e-commerce based. so you still have 94% of sales on credit cards still brick and mortar sales of some sort or another. most of the none-commerce retail blends their store operations in with online sales. macy's, for instance, tells us for everything ordered online and returned on store they sell $1.30 for every dollar returned. nice ways to blend them together. >> williams sonoma