williams sonoma, plenty of earnings to get to this morning.is one. >> williams sonoma is one of the best-run companies, and laura alvarez, the digital first strategy, which is brilliant, but she also sells furniture, and one of the themes of this retail portion of the earnings season, david, hard goods, furniture, no. and pottery barn was weaker. >> and west elm. >> i hate to say it, but there are very few merchants as good as laura alper, but she did not deliver. west elm was not good and pottery barn was not good. what it says to me is before you shoot the messenger, like, wayfair wasn't good furniture either. if it's hard goods, it's just not selling that well. versus, say, soft goods like gap stores that we're hearing right now. congratulations to them. their symbol is now g.a.p. not gps. >> i saw that when i walked in. gap. makes sense. >> let's get the opening bell here at the cnbc realtime exchange. at the big board is gap, celebrating its 55th anniversary and the ceo ringing the bell. at the nasdaq, it's als united greater new york, th

more evidence from williams sonoma. the economy, where does it leave the stock market. joining me 248 ventures chief strategist lindsey before. lindsey, lots of retailers are in the biggest decliners today, just absolutely getting hammered. advanced auto at the top but you do have urban outfitters william sonoma, bj wholesale, it is pretty rough for retailers. what the assessment where the consumer is and where is the consumer going? >> that is a really good question. ever since walmart reported we declared the consumer is a-okay and spending is just fine. we got a lot more data points then. we learned where the consumer is spending is in the value-oriented retailers. they're spending at walmart, they're spending at target. they're not spending necessarily in all the low end places. they're looking for value experience. a lot of retailers used word they're being choiceful. i love the first chart you showed, michigan sentiment chart. where he can expectations for earnings are falling off a cliff. the longer version, five

bringing it back to companies that -- william sonoma is a company we talk about all the time. it's a case where this is a company that's not expensive. it's up 40% this year after having a great run last year. this is a case where, again, discretionary spend as it related to the home, and nesting and trends that were very much covid trends, i think for some of these companies, it's about as good as it's ever going to get, and on margin it's about as good as it's ever going to get. that's my focus here. some of these names have not turned. doesn't make them bad companies. it just means i don't think they should trade here. >> tim's right, but the growth scare that's out there that hasn't happened yet that i think the market is now saying there's an inevitability to this, which i think is going to stair step to 4.8% by the end of the year, which the market won't like. one would think dollar stores, for example, they're not, i mean, look at dollar gen, dollar tree do not trade well at all. costco sold off, but walmart we've talked about now for years. on the other side of the equ

a buzz kill on william sonoma. the home furnishing company dropping 10% after says it expects revenue to be lower over the year. tim, this is one of your names, it's been a big outperformer, i think, we should say, going into today, and what's been a tough market for home furnishing. >> it has, and the margins that they reported today were fantastic. they've lowered the top line, and i think they've pretty much said it's going to be really rough going into 25. and i think in fact 25, the street somewhere in the negative comp. it just gets back to the fact that their best days at least from the covid and the pent-up demand, nesting, et cetera, i think are on pause for the foreseeable. and how do you pay what's still a premium to the five-year on this, when i actually think -- the company's probably going to be flat on earnings over the next two to three years. i think this is an example of one of these -- put them in whatever bucket you want, this is a discretionary company, i think you're going to see the stock tes

williams sonoma following suit. clothing retailer holding up slightly better. signs of softening are stim there, but market signals are still relatively bullish. more than 90% of the stocks and s&p broke their ten-day moving averages this week, so shorter term, things are looking okay. joining is our guest along with mike santoli. this is an interesting development and i feel terrible because we keep saying it's interesting, but it seems like it's the same thing over and over that any time there's a pullback of whatsoever, it seems to be bought, not in an enthusiastic way, but enough to keep the markets going higher and higher. mike, we'll start with you. it has. changed, it seems like over the course of the last year. >> not much. it's nearly 10% if you look at the intraday high and low. it's an opportunity for traders and investors to say what's changed? has there been a 10% swing in fundamentals? seemingly not. it's been broader and steeper. it came alongside, i would say over the last couple of days, just this pileup of data points and observations that had

. >> williams sonoma reports tomorrow. a higher price point i think represents still good value.t and the reason i say this, this is the kind of stock if you really think the consumer is hurting, give me a break. you can attract people with vaul and i think laura albert has given you what we think of with martha stewart, great product at a not high price point. so if they deliver, it's a sign of who's running the store, not the dollar amount. >> we tend to see optionality in specialty retail. >> lulu is up, it's been a pathetic performer, williams sonoma is good and up 40% of the year. i just think that laura is great. and my theory is brian cornell is great. the fellow at tjx is great. you have to look at who's at the helm. not so much -- >> i tell you, doug mcmillen, that's who. walmart is up 43%. exceeding a $600 market value and the walton family controls 46%. >> stump me on that. doug mcmillen is a merchant and a technologist, that's a rare combination. his humility bothers me. he takes no credit. no ego whatsoever. >> yeah, sure. >> what were you saying, only my reporting i

. >> williams-sonoma slipping after lowering annual sales forecast and posting q2 reserve knew missinges. spur share better than expected. stock, wsm, worst day since may. urban outfitters today dropping more than 9% after reporting second quarter sales in those stores that were open for at least a year. those down 9% from a year ago. that was more than the 8.3% decline analysts expected and looking for shares of that clothing retailer, down more than 18% just so far this month, carl. back to you. >> kate, thanks. >>> meantime, peloton shares soaring as you might know today as the fitness companies turnaround plans seem to be playing off. we'll break that down when "closing bell" returns. it's time to grow your business. create a website. how? godaddy. coding... nah. but all that writing... nope. ai, done, built. let's get to work. create a beautiful website in minutes with godaddy. do you have a life insurance policy you no longer need? now you can sell your policy - even a term policy - for an immediate cash payment. call coventry direct to learn more. we thought we had planned caref

you have a series of companies, williams and sonoma yesterday. did you have other stores doing ok -- then you have other stores doing ok like walmart and target. what explains all of that? stuart: a good question. it seems like you are getting some trade down. so walmart or target, it seems like the consumer is finding their way into those stories. it has not just been claims data. last week it was argued that the thursday data, walmart claims and retail sales was the more important group of data than cpi. then you are back up with walmart and target. you are getting at least some message that the lower end consumer is not under intense pressure. it is a mixed story, i agree. a mixed story is better than what people worried about after the august payrolls print, right? jonathan: ladies and gentlemen, welcome to a growth scare. in that moment, that is exactly what it was. it has faded over the last three weeks. what are you advocating for? what are you suggesting people do between now and september 6? stuart: you want to run long risk between now

augusto also admitted to conspiring with the vice president of williams-sonoma to steal more than $4ion in real estate broker commission rebates. federal prosecutors say eliseo was working at a logistics company that helped clients find commercial warehouses. >> a federal agency is naming several major retailers that charge customers for cash back at the register. now, the consumer financial protection bureau released a report that looked into the policies of eight retailers. it found that three of them kroger dollar general and dollar tree, have charged their customers a fee for cash back requests in recent years. it is legal for the companies to do so. >> well, ikea is testing ways for its customers to buy and sell its used furniture to each other. for now, ikea pre-owned the online marketplace is only available in madrid, spain and norway. the photos can be posted there and you can list the price of the furniture that's being sold. the seller has the option to receive payment through a bank transfer or an ikea gift card. buyers and sellers have to set up a time and place to make t

how about william sonoma?eally expensive home goods and home furniture and it's a tough sell in this environment. their sales missed the estimate. they cut their sales guidance for the year. stocks down 8% today. i do want to point out in the past one year, it is up 102%. stuart: got it. peloton. i've not yet seen these things in garage sales but i expect any day but the stock is up 16%. lauren: is it the turnaround? it was actually their first sales increase in nine quarters and it actually came during the summer, which is kind of surprising. more people might be inclined to go outside and run or bike than, you know, go on a stationary machine or take a class and they are finding new streams of revenue for some of their equipment so not at a garage sale but they are renting the equipment and putting it in hotels and selling it in dick's sporting goods, on amazon so there are more places to try to buy it so right now stocks $3 but the turnaround is certainly intact. stuart: 18% higher i'm sure we'll take that.

hon about williams sonoma which delivered solid numbers but then got beaten up down more than 9%? why? furnishings. oh, man, that's a tough business for anyone with rates higher. listen to what ceo laura alper, who's really great had to say. quote there is no doubt the home furnishings market is challenged you doo to the uncertainty in the economy coupled with slow housing. this leads us to believe that we may not see the back half of acceleration that we expected despite all the hard work we have done to improve our product offer -- and our customer experience. ouch. during the glorious eight-day run we would have just said that alper's being cautious and the fed's going to save the day when it starts cutting, ignore her forecast shade down just think about the positives. not today, though. today wall street was rational and the stock got hurt bad. how about b.j.'s wholesale club? b.j.'s worked hard to keep a lid on the customers' costs. ceo robert eddie pointed out the company has, and i quote, invested considerably in order to make our members make their baskets work within the

sonoma boulevard. not long after that, another shooting a couple miles away, this one at b.w. williamses say someone there was shot and killed. police are only confirming with us that they are investigating a homicide. we do know there was a sideshow in vallejo, but it's unclear if it was connected to that deadly shooting. and this is video of that sideshow in vallejo overnight at the intersection of louis brown and b.w. williams drives. you can see people at the beginning there standing in a ring of fire cars doing donuts around them. this sideshow, we're told, lasted about an hour before it moved south across the carquinez bridge. they took it to crocket, then richmond, and it all appeared to end in oakland, where opd tells us they broke up the crowd after about 20 minutes. sideshows are illegal. no word on any arrests. and we're following an investigation in the east bay where a man was shot and killed at an apartment complex. police responded in broad daylight 215 yesterday afternoon. witnesses say they heard shots fired at the emerald park apartments on hacienda drive. officers re

sonoma. muy cerca de la calle florida. no mucho después de eso, se reportó otro tiroteo. este a unas millas al norte de nbw williamsdo a principios de agosto. según los informes, el departamento de policía respondió a un comercio sobre la avenida solano, donde localizaron a una víctima que sufría al menos una herida de bala. la víctima fue trasladada al hospital donde murió 2 días después. este miércoles, las autoridades obtuvieron una orden de detención y detuvieron al sospechoso en su domicilio. ahora, de los dirigentes de oakland que dicen que están tomando medidas para hacer frente a la delincuencia en esa ciudad, la alcaldesa sheng thao estuvo acompañada por el jefe de la policía, floyd mitchell, durante una reunión con líderes de la seguridad pública que se realizó la noche del viernes. esto tras una semana de tiroteos mortales en oakland. los miembros del público presentaron ya preguntas que fueron leídas por un moderador. la alcaldesa y el jefe de la policía hablaron del éxito del programa de alto al fuego de esa ciudad. over 33 percent reduction in crimes across the whole city. we're seeing seventeen perce