men's wearhouse developed a fantastic tux rental business north of $400 million.r that same time, bank's business can only grow to $20 million in tux rental. that is because of the cultural difference. david: you are still a shareholder. i imagine you are still in touch with people there. what do they tell you about what's going on? george: i only speak to people at the store level. i don't speak to any executives. there's been no contact for 2.5 years with anybody other than a store personnel. people in the stores are upset. they are not just upset about this, they were upset that men's made a deal with macy's to get involved in tux rental with macy's. there is a lot that is going awry. david: we are familiar with the history of discounts and joseph a bank. this at joseph a bank. by one soon and get three or four. one suit and get three or four. david: bank had damaged their brand over a number of years by soning incessant promotions that nobody wanted to go there and pay regular price. why was one of the reasons i recommended they not make the acquisition. georg

right now you can see men's wearhouse shares losing a quarter of their value today. cea pointing to tougher competition from other retailers and then i glued -- winning to fell ceo tougher competition from other retailers. after issuing% weak sales guidance for the next quarter. sales and profits were above analyst estimates, 50 asares are below the well as 200-day moving averages. moving on to energy -- first solar also a victim of weak guidance today. down 10% after saying its 2016 rough it will likely beat estimates, but sales might fall short of targets. its margin trends will also disappoint. finally in food, yum! brands' shares down -- not as much as the other -- but still buy a three and a quarter here. accelerating losses after the retailer gave a less than positive view of its china sales. perhaps no surprise, a couple months ago we saw its china sales were not doing so well. november same-store sales fell 3%, and that was led by 9% plunge over pizza hut and this reversed an uptick we saw, betty, in september as well as october. ok, ramy inocencio at the mar

two of our guests were fired from high profile jobs, one at groupon, the other at men's wearhouse. and you'll hear from them after the break. scott: welcome back to "press here." if you've never seen our show before, you actually picked a really good week to start as we show you highlights from 2015. each week, two reporters from national publications sit down with me to interview newsmakers. and earlier this fall, a company you've probably never heard of launched a new ad campaign, not to sell you anything, but to advertise for engineers. that's how it works in silicon valley, you have to entice new employees to work for you. so, these ads went up in places like bart stations, ads that promised potential new employees a fun work environment, the tools to get things done. this one says, "my team is great, and everyone is smart, creative, and hilarious." this billboard in particular came under criticism, not for the message, but for the model. people of both genders questioning whether the woman in the ad was, well, too attractive. some were critical of the company, saying it was a

shares of men's wearhouse tanking today.ompany says same-store sales have plunged this quarter, already down 35% for the first week of december. meanwhile, best buy trying to avoid another lackluster holiday season. shares are down. black friday at the brick and mortar chain, not so great. , is this a pretty bad mistake with jos. a. bank? matt: a year ago they paid $1.5 million to buy jos. a. bank. the market cap has gone down $2 million. they paid more for the company then the whole company is worth right now. --all goes back to a kind of of a lot of mistakes that retailers have made. when you change the promotional strategy, you have to have something to offer them in his place or they will not show up. withw this with jcpenney, ron johnson. took away the strategy, shares collapsed -- does men'swhat wearhouse do with jos. a. bank? somewhat were known amusingly as by one and you get two free or three free or for free or five free -- they took that away. they took away what people people did not show up. there were declines

george zimmer, founder and former ceo of men's wearhouse giving us his retail report card of the years his take on other ceos. ♪ betty: it is 11 a.m. in new york, 4:00 p.m. in london and in japan. welcome to bloomberg markets. from bloomberg world headquarters in new york, good morning. i'm betty liu. this drug company may need a new prescription -- the stock has longed, lawmakers are skeptical and the ceo is on medical leave. what it all means for valeant pharmaceuticals. and it's not all cutbacks and shrinking bonuses -- we will tell you the best jobs to have on wall street next year. and the holiday retail report card. what it says about the way america shops. we are 90 minutes into the trading session. julie hyman is standing by. we continue the slide in stocks. julie: the commodity-driven slide. how many times have i said that this year? the losses are accelerating to some extent and it has a lot to do with what's going on with commodity prices as we see the 10 worst performers, all with the exception of one related to the commodity markets. consol energy, marathon oil, those thi

men's wearhouse ceo said the cold weather product is suffering more than the rest of the business, which isn't doing well either but that's because the cold weather apparel doesn't have a high fashion risk and it can be packed up and resold next year. >> it's an industrywide problem in apparel. from an investing perspective we like names like costco, like target, and others that have a more diversified basket of goods, and then we also like beauty concepts like ulta and sally beauty. >> reporter: but retailers' woes are translating into consumer gains. in order to entice shoppers to buy, retailers including abercrombie & fitch, hollister, gap and urban outfitters are slashing prices on cold weather gear, in some cases by 60%. for "nightly business report" i'm courtney reagan. >>> halliburton's deal to buy baker hughes reportedly in limbo and that is where we begin tonight's market focus. the department of justice will conclude its review of halliburton's offer to buy baker hughes. unless halliburton agrees to an extension, according to the "new york post." but the company won't agree to

more problems for men's wearhouse. it was downgraded from be plus to be. the company struggling.arket capouse's phil. that is when it completed the purchase of the retailer but lost more than what it ought the company four. stanford university says $1.6 billion in donation for august passing a record set by harvard. universitieshest have been funding higher education attracting gifts. it is one more way jack ma is following thes -- the footsteps jeff bezos. the paper has been struggling to attract advertisers two years ago. jeff bezos but the washington post -- bought the washington post. you can always get more business news at bloomberg.com. shares of trading down today and dupont after they agreed to merge in a $130 billion transaction, the ceo of dow chemical will be the new dupont's ceo will be the chairman of both. >> both of our companies we have known for a long time strategically fit together. it just so happened our stocks are basically trading on top of each other from the market cap standpoint. we could do a tax efficient transaction to our shareholders by merging fir

heading to retail, men's wearhouse is plunging, down 20%.ts shares have come up a little bit. 25%as down by as much as caret it may be regretting his 2013 purchase of joseph a bank today because of weak sales of that subsidiary. the company's ceo is now pointing to tougher competition from jcpenney, basically blaming others as opposed to itself. at the year today, look graph here year today. the share price has lost nearly two thirds of its value this year alone. now, this is its lowest since march of 2009, as low as hitting february of 2009, two thirds of its price. thank you. the next chapter of the volkswagen scandal. earlier today, he sat down with my colleague hans nichols for an exclusive interview. quite excellent friends, i should add. in their entirety, they make up what we call a volkswagen group. glad andppy and nothing will change in the coming years for sure. when you talk about the variety of different models or the complexity within the volkswagen group, it is true to say we will see some adjustments. we just have to see we ha

coming up, george zimmerman, the former head and founder of men's wearhouse will join david at 2:00 p.me always says that if you like the way you look, you like the way you look. guarantee it. ♪ in new: it is 1:00 p.m. york. welcome to bloomberg markets. from bloomberg world headquarters in new york, good afternoon. i am scarlet fu. this is what we're watching this our great central banks indicated they may loosen. dupont announce a megamerger. we will hear from the companies ceos. and bruce springsteen is always a hot ticket. today his latest show sold out in 20 minutes. how much fans are willing to pay for the tickets. markets go over to the desk where we have been tracking this selloff in equities. >> we're just barely off our session low. i would say that it is just a fraction right now. take a look at the big board right now. the s&p 500 is down 1.7%. down.w similarly the nasdaq the biggest loser, down 2%. we are basically seeing our biggest selloff on the market since september. price ofactor is the oil which is bringing down the energy stocks which is the biggest laggard on the s

wearhouse has stopped plunging into the company warned its joseph a bank unit could help it miss forecasts after the merger. it has declined 35% this quarter. there may be more consolidation in the card processing business. lowell commence is in talks to buy heartland payment. there has been no comment from either company and they are trying to tap into the number of retailers. hoverboards are reportedly being banned by airlines as a fire hazard. british airways is the latest carrier to ban the holiday gift item. they are powered by lithium batteries. you can get more on other business news at bloomberg.com. over to the markets and take a look at the dow jones industrial average. we are near the highs of the day. the dow is moving with oil that has turned private -- positive briefly. decline, ito this could mark the fourth straight decline for oil. it has been down eight days in the last 10 bringing its second have declined to about 48%. the issue is the oversupply of oil in global markets and the lack of demand. some people say demand is been recovering especially in asia, we see way too

i interviewed george zimmer this week, the former ceo o o men's wearhouse. he is now doing online tuxedo rentals. what a lot of conventional retailers are doing is what's called omni-channel. that's basicallyly your website i i online and pick up in the store. order from your phone. it's seamlessly integrating all these things. what will happen to all the square feet that we have in retail reall estate, that's a good question. >> is it working for walmart? >> walmart is investing a lot -- a billion a year or so -- in this. they havava big strategy and it's working. doug mcmillan is turning that strategy around. it's something everyone is grappling with. along, by the way, with the weather this year, which is lling them! so it's not easy right now. >> listen. last year they stayed open 100 hours before. >> they did. so obviously it worked. >> our landscape is changing. thank you u much and hapap holidays. >>> this morning we're looking at the biggest moments of the year on "cbs this morning." they include our one-on-one conversation with the man who kept ever

finally, men's wearhouse came out with earnings disappointed the market and down by more than .5 of the. -- more than 1/5 of the total value. stephanie: low oil prices and style in which growth would keep inflation under control. the decision to add stimulus in the fed's likely decision to raise rates this month. john, you spoke to mark carney not long ago. a product of the decision that got these conflicting monetary policies globally so it is not like they can make a decision in a vacuum and they have to factor in all the decisions? claims, -- k he stephanie: baloney. john: he is genuinely stuck between two huge courses. you have janet yellen in one direction and mario draghi in the other. he is down in the middle and it looks in english, even for canadian, to say your waiting to see what the americans do. there is an element to that. david: does it give it more like stability? because theibility pound weakened against the euro? john: it gives him a little bit of cover. david: not too far away. stephanie: what do you think? >> i agree that they are stuck between the u.s. and europe bu

and shares of mens wearhouse not looking so hot this morning. company taking a $90 million charge for its failed investment in joseph a. bank. sales are down 45%. >> that stock is getting hammered. holy smokes. >> not going to like how that stocks looks, right? >> and the former ceo is he sitting around saying i told you so. >> he has given interviews to that effect basically saying not necessarily enjoying the pain but he's not surprised by it. >> let's check on the markets this morning. as we told you the futures are suggesting a positive open. the dow would open higher. 47 points the s&p by 6 and the nasdaq by nearly 19. europe was marginally higher. flat across the board. and that remains the case. let's call it flat. germany, france, ftse, italy, spain, all of them hovering around the middle. nikkei was lower by more than 1% last night and shanghai was lower by .5%. the price of oil, 37.06 for wti. brent at 40.16. call it flat this morning. the ten year yield. i love the yield curve. let's see what -- 2.22 is where the yield sits when you l