Kohl’s reported a huge increase in sales thanks to strong hair and makeup revenues, CEO Michelle Gass weighs in. Portillo’s posts its first earnings report, and while shares initially took a tumble, commentary about the supply chain and pricing power on the earnings call recouped much of those losses. Portillo’s Chief Executive Michael Osanloo tells us what’s most important to the restaurant’s bottom line. And, Nike launches Nikeland on Roblox—marketing stunt or effective way to capture customers’ attention early? We’ll discuss.

Today’s key word is inflation: companies are seeing it, consumers are experiencing it and Fed officials are calling for action to curve it. But the futures market says they won’t act anytime soon. Should you position for a long winter of high prices ahead? We’ll debate. Plus, the headline numbers may look good, but are retail sales actually falling? We’ll do some back of the envelope math to see what the data is telling us. And, in today’s Earnings Exchange: we’ll give you the action, the story & the trade in Target, TJX Companies and Lowe’s with results on deck.