beyond the top performers, i'm feeling very good about tjx, yum brands and starbucks tjx is the pararx is a vulture struggling retailers need to unload old merchandise before they can bring in new stuff. they bought a lot of excess inventory and i bet we see more after the holidays because some retailers might not make it. because tjx prices are low, it's a winner every time consumers trade down during a recession. yum brands, parent of kfc, taco bell and pizza hut is great proposition and have plans for tremendous growth management to expand from 54,000 worldwide locations to 100,000 over time i believe it they came on i was blown away by the projections doing really well. kfc. don't forget about starbucks their most recent quarter was superb and got impressive long term growth targets and been held back for ages from the lockdown of china and a huge chinese business and the communist party dropped to zero covid policy and starbucks can make a powerful comeback they figured out here how to do cold brew, which is more important than hot brew. here is the bottom line. while most consum

>> the interesting thing about tjx, as their customers look for value, tjx is the best by the way, on the buy side with goods they're able to buy right now, phenomenal deals, which means their margins will go up next year, not down. with schwab, the opportunity from the net interest margin reset, so everything that's happened this year with rates going up, schwab is going to benefit from that in '23, '24, and even '25 so a great tailwind, which is why we like it even with the tougher market they're far more rate sensitive than market sensitive. >> do you have any other parting advice for investors who say, okay, what should we be bracing for from the fed tomorrow or in the coming months? will they prioritize a slowdown that some have inflation falling to 3% next year or make sure their hawkishness is vindicated and wage pressures don't make inflation sticky here? >> rates don't have to go up that much more, so we won't be fighting the fed too much longer the challenge is that earnings will be under pressure if there's advice, it's management teams that can navigate the tough environme

this is a little bit of a back to the future feel companies like tjx were some of the best executers of the past decade and then they went haywire during the pandemic. >> we saw a change during the pandemic i even heard this from a lot of real estate folks, as they think about 2023, they're talking about how retailers want to be close to these offprice names. ike mentioned, they're seeing a lot of growth. they want to be close to grocers. both of those categories, which are value oriented and necessity orient have had seen a surge and that's intensifying, as people think a little bit more carefully about their spending >> that's interesting. ike, am i wrong in thinking that we had a big luxury deceleration at the end of the year normally, i think of that category as pretty resilient, no matter what. how would you describe -- how do you feel about some of these companies. how do you feel about their momentum going into 2023 >> we haven't seen a lot of pressure there honestly, i kind of view it little bit differently i barbell it a bit i think the low end, which was under real pressure

maybe it's tjx, but it's not great. i have to admit that it is not great.on't think it's going to be a big problem for the major banks, but i'm a little concerned, to be honest. >> julie, how are you feeling about the consumer >> i think nike will be an interesting one, because it has such a wide net these cast in terms of different consumers i think it's interesting so much of what the u.s. economy is, is built on confidence. the confidence that businesses have to make and spend, and the confidence that consumers have to buy things for themselves, and i think both sides are softening pretty materially. even if there's not quite a softness in the economy we expect on the labor market front, i think the confidence could lead to softness in investment such that we actually -- you know, the recession becomes a self-fulfilling prophecy. >> even if you have a job, your neighbor may by laid off >> you don't want to be seen as the person running around going on trips, bragging about whatever it is but if you look at the con consumer,selves so much money thrown at

my favorite for the charitable trust is tjx we did an off the charts feature this week on lululemon that comes out thursday i think we'll be pleasantly surprised or ecstatic about the quarter. they are expanding and i like how the division is doing. i predict this stock will run up to here on the day it reports and people say what -- whatever, whatever they say. do you think i care at this point? if my mother called me an idiot, that would be a shocker. two straggling reports, chewy and docusign are covid beneficiaries. to the point where maybe they can finally be sprung? i think chewy has a chance on an upside surprise. if it runs up to the quarter again, i'm worried about lulu, be careful the market sluhrugged off the employment number. i bet stocks go higher at the same time you get the latest university of michigan reading right about now we need a boost, a big boost if only to save christmas for retail where most of the money is made for retail, right just a six, seven-week period only that it might be too cold bottom line, as the year winds down, the holidays will become more and m

i don't care, that's fabulous for places like tjx that are ready to pounce on the soon to be corpse of bed, bath and beyond same for burlington. how about ally's bargain outlet? does mike wilson super bear's crystal ball say about that? ho honestly, i don't care i wonder if he belongs to ali's army like i do by the way, you won't see nike speaking of morgan stanley, that's one of my favorite financials for 2023. it's got an insanely cheap stock, high dividend and profits are roaring. morgan stanley earnings be eroded by inflation? the for the fed tamps down on inflation, the more i stick with a company making the best numbers with 4% unemployment up from here and 4% inflation quite a bit from here. that's likely where we're headed how about goldman sachs? whether the fed over shoots or under shoots in 2023 it's hard to imagine a worse year. what do the bears say about that now that the firm cleared out dead wood or wood not burning hot enough there is aerospace we have a tremendous travel boom now causing an impossible shortage of planes filling one company certifyed to sell commercial

so we've been adding to names like tjx, to macy's, to bank of america yet you need that defensive componentyou and i talked about health care. it's a sector we like a lot. we've opinion adding to a little bit to cigna. have the balance in your portfolio, if you want more cash because you're concerned, you can have a larger cash position but be very careful timing going in and out of that market with a larger cash position. charles: i love the fact that the names that you have conviction on, based on their fundamentals that you're buying more, nibbling at them on the way down. ultimately that is how you make a lot of money as a long-term investor. the key phrase is long-term and investor. victoria, have a fantastic christmas. thank you very much. >> you too, charles. charles: i want to bring in main street asset management ceo erin gibbs. i want to pick up on this notion that the market seems to be they arery picking the news. a -- cherry-picking the news. gdp third quarter revision 3.2 from 2.9. we had a whole lot of other data. economic indicators, 10 months in a row this thing is crashing

you about sales and there we look at some of your top tenants, which include petsmart, home depot, tjx, ross, and so forth, and walmart. >> pleasure to see you the environment right now is a bit mixed. you look at the consumer today, and obviously you're seeing some pockets of strength and some pockets of weakness. you saw nike's results and obviously footwear has done phenomenally well. we're seeing the same in categories like beauty, fitness, and services as well, as well as food and grocery so it really depends on the demographic you're talking about and the location specific but the consumer itself is obviously still a question mark on the strength of the consumer what hasn't changed is the retailer demand. that still is quite robust across the entire portfolio here. >> what do you mean retailer demand in other words the retailers wanting space? >> exactly the net new store openings far outweigh store closures today, and there's virtually no new supply we're at a decade low of any new retail supply, especially in the markets where kim co. is positioned where we have high barriers t

there's a definite theme dollar general, tjx, dollar tree, ross stores are some of the best-performing retailers, besides utla beauty, which is in a league of its own. stocks down like nike, vf corps down more than 60% this year what is the strategy in '23? clearly that speaks to the trade-down and the pressure on the low-income consumer which we saw this year. >> yes, both of those subjects, absolutely and i think the third piece, we talked about this before, sara many retailers got hurt by ordering too much inventory during the pandemic. when they panicked because last year, as you remember, they didn't have enough inventory and so as a result of that, they ended up ordering too much just at a time when demand was beginning to soften. and there were some very big numbers with more inventory than the prior year they were completely out of line with their own sales expectations going forward that hurt them because no matter what retailers say, and i know it was in this category for a long time -- if you're overloaded with inventory, you want to buy all the hot sellers that you know you

. >> for the retailers and probably good for tjx. a lot of inventory and very good prices so, um, there is some really bad inventory situations out there i think, you know, target, i think is one of them so we're going to see very promo promo promotional christmas. i hope nike has got a handle on it so i think the good names will end up being okay. >> right guy, your smirking i don't know why >> it is just his face. >> we talked -- >> resting smirk face. >> we were talking the other day, i definitely -- it is better to have a resting smart face than the other one that i'm not allowed to say but lululemon, which i think we've all championed as one of the great, and they are, their inventory was up, wait for it, 84% year-over-year that is against like a 28% sales growth so maybe tiny tim could get himself a couple of the lululemon boxer shorts that i wear but it the no good they all suck at it. none of them have navigated this particularly well. so, it doesn't seem particularly well for some of the rerts in terms of the stocks. >> you

we've had the success that tjx has had. this is a big bet for the company, as you mentioned.re they coming to new jersey anytime soon >> they have very ambitious plans. after 200 they'll get to next year, they're going to expand to 1,000. they haven't disclosed all of those locations, but ultimately they see room for 3,000 stores it's a pretty safe bet that new jersey will be on the map at some point they're really starting close to their headquarters in nashville. and a lot of the places they've gone to are fast-growing suburbs, parts of texas, parts of florida >> yeah, yeah, we know, jersey doesn't make the cut for those places, we get it. no, it's a big bet by them and a very intriguing time as, as well great reporting, melissa, thank you very much. melissa repco. for the full story, head over to cnbc.com >>> still ahead, $2 billion, that's how much disney's "a "avatar: the way of water" needs to make to break even. but as the media industry reels, is that target feasible? plus, which other companies that disney areoong rti for "avatar's" success those answers, next. i was

discount retailers five below and tjx also have each opened more than 100 additional stores this yearription glasses, contact lenses and sunglasses retailer is following suit. warby just celebrated the opening of its 200th store. i spy the brand new store in union square new york city right there, after starting up in 201s retail journey in 2013 right here in new york city. look, its been a tough go for all retail stocks. warby is not able to escape that , down significantly this year about nearly 70%. should investors view warby with a fresh pair of eyes? joining me now warby parker co- founder and co-ceo dave gilbo a. dave, congratulations on the new store. let me just ask you right off the bat. more and more brick-and-mortar, you must be seeing some good response from customers. >> hi, liz. yeah, absolutely. so this year, we opened 40 stores, we have 200 stores in total now, but that's just a tiny fraction of the more than 41,000 optical shops ink across u.s. and we continue to see really positive response every time we open a new store ink across country, when we survey customers

stay away from retail in general other than costco and the discounters, the full-time discounters like tjx and that's all i really want to do okay listen, i urge you don't shoot the messenger. david tepper didn't steal christmas from the bulls sometimes bad news is just bad news and hot data is too hot data on "mad money" tonight paychecks has its finger on the pulse of small business so where do we stand with the recession fears looming? they've got some great comments on it. so i'm going to talk to the ceo. and egg prices, i know, you know, they've surged on the heels of bird flu breakout impacting millions of chickens and turkeys. i'm learning more about what we're doing to fight the disease and why prices are going up. and a host of impressive metrics. i'm breaking down the headlines of the company's top brass with a stock that hit its 52-week high today so stay with cramer. >> announcer: don't miss a second of "mad money." follow @jimcramer on twitter have a question? tweet cramer #madtweets send jim an e-mail to madmoney.cnbc.com. or give us a call at 1-800-743-cnbc miss something he

it's not lu lulu or tjx or dollar general we knew the 2023 estimates were too high that was baked into our analysis i think the ceo change is going to impact sentiment in the near term overall here, nothing is broken. obviously the stock pays a massive dividend, which i think they're committed to so for a small position in this type of strategy which focuses on income, we're comfortable holding the stock here >> i mean, this is a case of a company that has brands that doesn't control how the brands are sold and we've seen this time and time again because they reference wholesale partners canceling orders, which is a problem, and discounting. >> also, jeff is spot-on with the middling brands. but i think also this inventory position that they're in is gigantic and very problematic. and they have the unfortunate situation of being compared at least in the last week with pbh, which had a very good quarter. they're not in that very different businesses so that didn't look great. pbh had a much lower inventory position so that hurts the gross margin they talk about hurting the gross margin,