Pretty true to form on this thanksgiving hence to be a positive bias. But nothing out of the mode for a moment here. And that was a few days ago. You know, not necessarily you might think so you kind of just, you know, get ab early slate there was a definite persistence to the quarterly strength. There is a dynamic though. Once it gets overbought, once sentiment gets overoptimistic as arguably it is right now, usually you can see the multiple times in recent years when the Fourth Quarter just melted up. And at some point nifrt few months of the next year, usually you have a little bit of a recession. Mike, see you soon. Malls may look a lot different compared to a normal black friday Bertha Coombs is live in new jersey with a closer look at whether people are showing up to shop in person at all. They are. Some people have shown up. Were coming off a record thanksgiving in terms of online sales with so many Stores Closed but today we found some folks lining up for door busters this morning. People are looking for the holy grail. They were lined up outside the mall waiting for gamestop to open a lot of them hoping maybe they can get a ps 5 which has been sold out online. Thaur ju theyre just as hard to get in person as they are online. I got maybe six xboxes. People just started leaving. They just needed information and they got the information that they hoped would not be the case but were seeing a lot of traffic. Oliver chen expects to see malls down 30 so were seeing folks coming in. And people are coming out with bags and the curb side pickup is virtually empty. Nobody is utilizing that today theyre really looking to shop inside the stores. Theyre maintaining social distancing this lululemon in tysons corner, virginia, the line was so long so they took their number anticipate text you when it is your turn to go in back over to you. We have a look at the holiday plans. Sara, just in time for the busiest season of the year 300 for full time employees and 150 part time in total, amazon will spend over 500 million on the socalled thank you bonus. Amazon is also likely and there isoverhang its accelerated growth this year amazon has added more than 400,000 employees over the last ten months, far more than other ecommerce rivals like walmart tensions have also increased, too. Warehouse employees around the world are planning walkouts and other actions today. Some Small Businesses claim amazons growth has come at their own expense. Tbd whether that translates into regulatory action. Lets have a closer look. Great to see you, simeon, as always for many months there was a question mark as to whether there would even be a proper Holiday Shopping season. I guess that fear is now gone and people are suggesting whether its online or bricks and mortar stores, there will be a jump in on Holiday Spending. We went from having no holiday to a multimonth holiday. This scenario was at least projectable. People tried to stretch out the demand by stretching out the demand and were seeing results come through that people are walking into the mall today, i wonder if people are going more for tradition than for function, but the reality is it is a holiday and you need to buy what you need to buy and what were seeing is that because of lack of inventory, its hard to get the product. Pricing is up, you need to make sure youre picking up what theyre offering so its confusing when you look at the list of winners and losers in retail l brands is up more than 100 , up there with amazon and etsy and you have names like ralph lauren, underarmor and theyre all down who would have thought the chart of a retailer would look like the chart of copper but they do. You and i have been betalking about this through the pandemic. It served as a take a deep breath moment, companies that had overdiscounted and eroded all of their Pricing Power and were forced to say there isnt inventory. When the pandemic shut down ou side of the world, factories and bottle necks followed. If my units and sales are down 40 , i may as well try to get whatever price i can and i did i think to your point, victorias secret owned by l brand is a perfect example of that on the one hand you have bath and body works, which benefits from soap, hand sanitizers and you have Victoria Secret that wasnt making money that now can. Thats one of the prime examples we like. I think theres a host of us capri owns jimmy chu, has phenomenal value as well do you get worried that stocks that are richly valued like nike, that theyll see the multiple part of their share price come back to pressure, if the world goes back to normal . At the moment its a very valid point. I think next year is going to be so interesting for us all. Weve all abandoned the idea of figuring out what the new normal is and were operating under the current normal, but this idea that retailers took a lack of inventory to focus on Pricing Power, we dont know what its going to look like next year what you would hope is that they take the Lessons Learned and say growth for growth sake is not a good thing on the other hand, as soon as some semblance of normalcy happens, we dont know who crosses that picket line first so i think what we find is there probably is some form of a reset in terms of what multiples used to be. I think we do get elevation from there. The question of are they going to remain this high, the answer should be no because ultimately what should happen is the numbers should normalize up, the multiples should normalize down and the question is who has the most meaningful divergence there. Theres this group of expense of sto expensive stocks for a reason the question were looking at is who is expensive and will structurally take more share those are the companies were okay maintaining the multiple premium. The ones catching a trade because rising tides lift all boats, thats the side of the world wed be worried about next year good to talk retail strategy with you thank you. Good to see you guys. We appreciate it. Be sure to head to cnbc. Com pro. For a look at what jeffrey says could be the biggest ecommerce winners shares of foot locker have more than doubled since their march lows were going to talk about that coming up. Nasdaq still going strong. Well be right back. Its been a tough year. And now with q4 wrapping up, the north pole has to be feeling the heat. Its okay santa. Lets workflow it. Workflow it. . With the now platform, we can catch problems, before customers even know theyre problems. Wait. A hose . What kid wants a hose . fireman . Says hose. It says horse not a hose cedric get over here now our people can collaborate across silos, from across the globe. So hows the new place . Its a 4 bed, 2. 5 bath igloo. Its great yeah, but you have to live in the south pole. Sir. Wait, are you sure . Yes, were that productive now. You hear that . the kids get twice the presents about time 2020 gave us some good news. Whatever your business is facing. Lets workflow it. Servicenow. Youre choosing whento get connected to xfinity mobile, to the most Reliable Network nationwide, now with 5g included. Discover how to save up to 400 a year with shared data starting at 15 a month, or get the lowest price for one line of unlimited. Come into your local xfinity store to make the most of your mobile experience. You can shop the latest phones, bring your own device, or trade in for extra savings. Thats simple, easy, awesome. Visit your local xfinity store today to ask, shop, discover the latest on xfinity mobile. The pandemic doesnt seem to be weighing on consumer who will dave spending. According to adobe analytics, sales hit a record 5. 1 billion, a 21. 5 increase from last years. And sales are expected to increase from 3. 6 to 5. 2 this year footlocker could be among those set to benefit the stock has been on a tear by more than 100 joining us now is footlocker ceo richard johnson. Its good to have you here how is the Holiday Spending picture shaping up for you so far . Its great to be here i hope you and wilford had a great thanksgiving yes to both we saw great on value and now today with black friday, were really excited about kicking off the extended Holiday Season. You have shown, richard, some surprisingly strong retail sales over the last two quarters, which might be a little counterintuiti counterintuitive whats going on with the customer the customer loves hot product. They love to shop and find the great heat that the Sneaker Companies bring to market and were the key destination both online and the mall for those products and i think generally speaking they a malls are doing a great job keeping employees and customers safe were doing a great Business Online and in the stores while traffic is down generally, i believe were operating in a very safe manner and our customers selling us that in our surveys postpurchase, they feel very safe in our stores, which brings them back to shop for our product. Do you think the work from home trend has boosted sales and does that pivot back next year i think it has. Ive been a proponent for you can wear sneakers every day, whether youre at the office or at home. People want to be comfortable and casual i do believe that people have gotten far more comfortable wearing sneakers all the time, being very casual. We saw great apparel sales in contradictory categories during the third quarter, if you will, from great sales in fleece because people want to feel comfortable and cozy to also great sales in tshirts and shorts, which dont always line up with each other were a believer in theal envir. Theyve learned they can be just as productive in casual and comfortable products both on their feet and the apparel they wear broader question about your business weve followed nicnicky niken underarmor if they are cutting ties with whole sale partne wholesale partners, does that benefit you or hurt you as the Companies Look inward . I believe its a big, broad sneaker ecosystem. We have a great relationship with our vendor partner, the two big mentioned nicky and underarmor and we look for ways that we can different bringing product to market, physically and digitally. I look at nike up in new york city, washington hooiteights, ia very digitally connected store that we built together with nike so we continue to work with all of our partners to create great moments for our customers and bring great products for them, whoever and wherever they want to shop. So what percentage of your business is damage tall at this point a is digital at this point and does it ever go back when we get a vaccine to going in store . Its a question we get asked a lot. We reported digital was about 20 of our sales i think less about how much is brick and mortar and how much is digital. We used our stores as activation zones in many cases and we have authenticity and associates in the store and they want to have dialogue with the consum Consumer Shopping is still a very visceral experience people want to touch and feel. I think postvaccine there is normalcy that returns. Will it ever be like it was prior to march 2020 . That i dont know. I believe people remain comfortable shopping in environments that are healthy and safe and that are proving they can protect associates and customers alike. So well continue to stay agile, continue to balance and take care of engagements with our customers regardless of how they sh shop its good to have you here on black friday we are so hot on sneakers on this show that coming up in the next hour, we have an interview with eddy lu some big black friday deals to discuss with him competition rolled into their discounts. Thats coming up later in the show weve got just under 40 minutes, 38 minutes left in the session and the dow going negative by 15, 16 points, nasdaq up 0. 8 . Still ahe still ahead, a newsmaking interview you dont want to miss and prove Sir John Bell and also with Andrew Lloyd Webber, who helped the live theater industry back in a couple minutes this is us talking taxsmart investing, managing risk, and all the ways schwab can help me invest. This is andy reminding me how i can keep my investing costs low and that theres no fee to work with him. Heres me learning about schwabs satisfaction guarantee. Accountability, i like it. So, yeah. Andy and i made a good plan. Find your own andy at schwab. A modern approach to wealth management. Find your own andy at schwab. No one likes to choose between safe or sporty. Modern or reliable. We want both we want a hybrid. So do banks. Thats why theyre going hybrid with ibm. A hybrid cloud approach helps them personalize experiences with watson ai while helping keep data secure. From banking to manufacturing, businesses are going with a smarter hybrid cloud, using the tools, platform and expertise of ibm. This was the theater i came to quite often. The support weve had over the last few months has been amazing. Its not just a work environment. Everyone here is family. If you are ready to open your heart and your home, check us out. We thought for sure that we were done. And this town said not today. After a blistering run to multiyear high, bitcoin has seen a sharp pullback this week. Hi, kate bitcoins rally came to a halt this week as investor fear more regulation and look to take gains. After climbing to nearly 20,000 before thanksgiving, bitcoin is back below 17,000 today. That was a 12 drop over just two days that started wednesday night after the ceo of coin base tweeted about potential regulation Brian Armstrong said hes hearing rumors the u. S. Treasury department is planning to rush out new regulation and ban people from holding their own crypto currency in whats known as a wallet. Armstrong said hes, quote, concerned about the unintended side effects some cited a wave and bitcoin is out more than 250 since march lows guys, back to you. Kate rooney, thanks coming up, well talk to the ceo of signet jewelers, whether shes concerned about spending on highend items. As we head to break, a quick check on bonds for you shortened session closing at 2 p. M. Eastern time. Yields lower for the second day in a row they were closed yesterday we got a lot to focus on next week as far as the bond market powell testifies two days in a row. For now, curve flattening. For now well be back here on closing bell. Lets get checked for a full range of conditions. Lets get fast, accurate results. Introducing letsgetchecked Health Testing you do at home. Know your health. Know yourself. Now, get 40 off at letsgetchecked dot com before we talk about taxsaudreys expecting. New . Twins wed be closer to the twins. Change in plans. At fidelity, a change in plans is always part of the plan. Youre choosing whento get connected to xfinity mobile, to the most Reliable Network nationwide, now with 5g included. Discover how to save up to 400 a year with shared data starting at 15 a month, or get the lowest price for one line of unlimited. Come into your local xfinity store to make the most of your mobile experience. You can shop the latest phones, bring your own device, or trade in for extra savings. Thats simple, easy, awesome. Visit your local xfinity store today to ask, shop, discover the latest on xfinity mobile. Welcome back losing some steam here, dow down about 40 points, looking at a gain at about 2 for the week. Im leslie picker in california a hiker was trapped overnight under a falling boulder. It took him hours to retrieve his phone and call for help and get airlifted to a nearby hospital where he is in stable condition. Federal safety regulators are investigating come lanplaints a suspension failures that could affect 115,000 tesla vehicles, sedans and suvs. In indiana angry farmers are using their tractors to dismantle roadblocks to professional test new regulations that will reduce their own income and fans are finding ways to honor Soccer Player maradona thats our cnbc news update at this hour. Im sure those types of moves universal in argentina but quite partisan in italy, napoli fans in a big way behind him. Many fans of other italian teams probably not leslie, thank you very much for that just 29 minutes left of the session. The dow negative, the s p positive, nasdaq up by 0. 8 . After the break will thanksgiving travel and instore shopping lead to another jump in covid cases . Well ask Scott Gottlieb and get his take on astrazenecas vaccine. And a check on disney shares the Company Plans to lay off 32,000 workers up from a previously announced 2008,0. Back in a couple minutes did you know that geicos whole 15 minutes thing. That came from me. Really. My first idea was in one quarter of an hour, your savings will tower. Over you. Figuratively speaking. But thats not catchy, is it . Thats not going to swim about in your brain. So i thought, what about. 15 minutes. 15 percent. Serendipity. 15 minutes could save you 15 or more on car insurance. 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Coronavirus news tracker air travel hit a pandemic high this week as americans traveled for thanksgiving, according to tsa data that number is still significantly lower than thanksgiving last year, though parts of europe will lift lockdown measures imposed a few weeks ago as case numbers show improvement. Boris johnson says his country as National Lockdown will End Next Week but be replaced by targeted regional restrictions and the french government said its citizens will be allowed to travel abroad starting on december 15th. Astrazeneca says it will likely conduct an additional trial after the