GOLDMAN SACHS.
>>> RETAILERS SOME OF THEM
DIDN'T DO THAT WELL DURING THE
HOLIDAY SEASON OF THE MACY'S,
VICTOR A SECRET, L BRANDS,
KOHL'S ALL STRUGGLING.
BETTER FLECKINGER, MANAGER OF
STRATEGIC RESOURCE GROUP.
THOSE THREE, WHAT HAPPENED?
>> RETAIL ICE AGE, ALL THREE.
THERE WILL BE SURVIVORS.
THEY WILL THRIVE.
MACY'S.COM, 7th LARGEST ON
LINE, RETAIL TRAIN WRECK UNDER
THE CHRISTMAS TREE IN PART FROM
FED CHAIR JEROME POWELL SCARING
PEOPLE WITH THE STOCK MARKET IN
DECEMBER, SLOWED SPENDING
SIGNIFICANTLY.
STUART: IT WAS A TERRIFIC
HOLIDAY SELLING SEASON.
>> A RECORD.
MACY'S TO ITS CREDIT WAS UP
1.9%.
STUART: WHY IS IT DOWN 18%.
>> THE ANALYSTS ARE MENSA
SOCIETY MORONS, THEY ESTIMATED
MACY'S WOULD BE UP 4 OR 5%,
INSTEAD OF TWO.
STUART: IS THAT IT REALLY,
ANALYSTS SAID THEY WILL GO UP
FOUR OR 5%.
THEY DIDN'T, THEY WENT UP 2%, SO
DOWN THEY GO 18%.
>> THAT'S IT.
STUART: THAT IS RIDICULOUS.
I'M SORRY, I FIND THAT
ABSOLUTELY RIDICULOUS.
WHERE IS MACY'S NOW?
DOWN SOME MORE.
>> AGAIN.
STUART: ANALYSTS AGAIN?
>> ANALYSTS AGAIN, MACY'S STOCK,
HUGE DIVIDEND.
MACY'S WILL BE THE WINNER FROM
THE SEARS LIQUIDATION THAT WILL
COME INEVITABLY.
AND MACY'S IS BENEFICIARY OF THE
CARSON'S CHAIN OF SIX STORES IN
THE MIDWEST.
THEY LIQUIDATED.
MACY'S WILL BE BIG BENEFICIARY.
PENNEY'S IS STRUGGLING.
MACY'S SURVIVOR, LAST ONE
STANDING AND GIVING.
STUART: YOU DON'T GIVE
RECOMMENDATIONS ON STOCKS.
I DON'T THINK YOU DO.
>> SOMETIMES.
STUART: WOULD YOU BUY MACY'S AT
THIS CURRENT PRICE?
>> I WOULD.
THERE ARE VERY FEW SAFE HARBORS.
SPROUT'S FARMERS MARKET.
KILLING WHOLE FOODS OWNED BY
AMAZON.
>> SUSAN WANT AS GO.
SUSAN: MASTERCARD, $850 BILLION
WAS SPENT OVER HOLIDAY PERIOD,
BEST IN SIX YEARS.
ARE YOU SAYING THEY WEREN'T
GOING TO MACY'S, KOHL'S AND
TARGET.
>> THEY WERE GOING TO MACY'S AND
KOHL'S.
MACY'S UP 102%.
KOHL'S UP 105%.
SUSAN: DOES THAT SOUND LIKE
DISAPPOINTING SALES TO YOU.
>> DICK EN, BEST OF TIMES, WORST
OF TIMES.
"TALE OF TWO CITIES."
STILL VERY GOOD TIMES FOR MACY'S
AND COLDS, REST OF RETAIL,
ACCELERATING PRICE AGE.
400% OVER STORAGE, TO 150%
OVERSTORED IN BRICKS AND
MORTARS.
THEY'RE SELLING RETAIL STOCKS,
INSTEAD OF PICKING FEW OF ONES
THAT ARE POSITIVE, YOUR POINTS,
SUSAN, MACY'S KOHL'S, AMAZON,
WALMART, COSTCO, BJ'S, PEOPLE
BUYING ON PRICE AND PROMOTION.
RETAILERS GOOD AT BOTH LIKE
THOSE ARE STILL WINNING.
STUART: CUE THE ORGAN MUSIC
PLEASE.
WE'LL TALK ABOUT SEARS.
THEY KIND OF GOT BROUGHT BACK TO
LIFE, I THINK IT WAS A
BANKRUPTCY JUDGE A
5 BILLION-DOLLAR MOVE INTO SEARS
BY EDDIE LAMPERT.
OKAY.
JUST CUT TO THE CHASE.
WHEN ARE THEY GOING OUT?
>> THEY SHOULD BE GOING OUT
MONDAY.
BANKRUPTCY JUDGE, BOB DRAIN HAS
REALLY REGRETTABLE RECORD OF
LETTING THE BANKRUPTCY FIRMS
OTHERS RUN ROUGHSHOD OVER
CREDITORS.
LAMPERT IS LIFETIME LOSER.
A GUY WHO IS NEGATIVE ON
SAME-STORE SALES FOR 50
CONSECUTIVE QUARTERS SHOULD NOT
BE ALLOWED ANYWHERE NEAR THIS
COMPANY, AND IT IS
GEORGE ORWELLIAN, 1984.
THE LAST SEARS STORE STANDING
HERE IN THE U.S. AND CANADIAN
BORDER.
PLENTY OF MERCHANDISE, SHOPPERS,
SO SCARED THEY'RE NOT SHOPPING.
STUART: THEY'RE GONE?
>> YEAH.
STUART: RIGHT.
WHAT ABOUT REPLACING SEARS
STORES WITH WHOLE FOODS STORES?
>> NOT WORKING BECAUSE WHOLE
FOODS ALREADY TRIED CONVERTING
THE BON-TON DEPARTMENT STORES.
THE STORE WAS SUPPOSED TO DO
1.2 MILLION A WEEK.
IT IS DOING LESS THAN 300,000 A
WEEK.
COLLEEN WEGMAN, AND JOE DASHES
AND DASHES EATING THEM ALIVE ON
NIAGRA FALLS BOULEVARD.
ONLY WHOLE FOODS AMAZON COMBINED
STORE.
SHOULD HAVE SPECTACULAR SUCCESS.
DEPARTMENT STORE CONVERSION NOT
WORKING.
STUART: SOMETIMES YOU SAY SO
MUCH I FIND IT HARD TO FOLLOW.