At Avery's place, she takes a call from Nick. She teases him about dressing up in a 'red number' and chocolate later.
Nick joins Noah and Faith at Sharon's house. They admire the tree. Faith puts the angel on top. Sharon thanks Nick for trusting her with Faith. Nick compliments her for getting help, adding that she's getting better - who knows her better than he does? They read Christmas stories. Later, Sharon looks at her Lake Tahoe ornament on the tree.
At Newman, Adam gets a text from Victor bugging him about getting the company back. In the office, Phyllis is ranting to Jack about Chicago. He insists he's past taking the meds. Adam and Kyle come in. Jack announces that next week Jabot will be a subsidiary of Newman Enterprises. Phyllis and Adam are concerned. Kyle tells Jack he has plans tonight. Jack is left alone. Adam returns to try and dissuade Jack from moving forward. He warns Jack to protect Jabot and not to underestimate Victor. "You never know when you'll take a fall." Jack hold up the pills. "Or when someone will push you?" Adam admits he was testing him. Jack dumps the pills on the floor and stomps on them. In the corridor, Phyllis runs into Avery and invites her to spend Christmas Eve with her and Summer.
Chloe meets Chelsea at Crimson Lights and breaks the news about Gloria pulling out. Chelsea laments her bad luck - it's payback for all the bad things she's done. Chloe argues that it's Sharon who has an ugly dose of bad karma coming. Chloe suggests Chelsea reconsider taking a divorce settlement to help their business. Chelsea refuses.
Avery and Phyllis arrive at the tackhouse where Summer scrambles to hide gifts. Avery sees the card from Jamie apologizing for kissing her. Summer talks to them about Jamie and Fen fighting over her. Summer wants Avery's advice because Phyllis sucks at relationships. Phyllis asks Avery why her marriage ended. Avery gives a vague non-answer. Phyllis gives Summer advice. She steps away to call Fen. Phyllis needles Avery about Nick. Avery brings up Jack. When Nick arrives, Avery says Phyllis is upstairs and is looking forward to spending Christmas Eve with her. Phyllis reappears and says she's fine with them together before leaving. Later, Noah calls Adriana asking what to do with the money as he looks through the bag. Summer appears and asks, "Dirty money?"
At home, Billy and Vikki ready the boys to leave for Christmas Eve dinner. They kiss under the mistletoe, and Billy says he's not going to dinner. He tells her to go spend the holiday with Jolly Ol' Saint Vic. Victoria argues with him. Jack arrives bearing gifts. Billy isn't welcoming. Jack mutters that he'll leave the gifts. Billy really only wants him to stop being CEO of the world and run their father's company. Jack can't do that. Billy sends him away. Vikki wants Billy to accept Victor's invitation so he won't end up alone like Jack. Billy refuses. Vikki whispers in his ear. Billy says, "Okay, I'm going."
Chloe pays Adam a visit at home to give him the chance to redeem himself - she wants him to invest in the fashion business she's starting with Chelsea. Adam says Chelsea wants nothing to do with his money. Chloe pushes him to back the clothing line as a silent partner. Later, Adam opens his door to Sharon, who says, "No one should be alone on Christmas."
Jack arrives home alone and sees John. "Some Christmas, hey Jackie?" He remarks on how the house was always full of people and laughter. Jack recalls when John gave him a solid gold key engraved, "Jack Abbott, CEO." Jack pulls it out and gets choked up. John says he has all the power and success a man could want, but it doesn't mean a thing if there's no one to share it with. Phyllis arrives. She tells Jack he's pale and offers to make food. Jack's shaking. John reappears and urges him to admit he needs help!
Chloe finds Chelsea at Crimson Lights and tells her they got the money - they're back in business!
At Avery's place, she gifts Nick with an electric guitar. He gives her a vintage Easy Bake oven. She tells him to remove his shirt - chocolate can be messy.
Genoa City Spoilers for Tomorrow on The Young and the Restless:
Michael asks Fen what he's doing with an untraceable phone. Irritated, Fen asks, "Have you been snooping through my stuff?"
Nick finds dog tags with the name 'Dylan McAvoy' at Avery's place.
Adam tells Sharon, "There is a connection between the two of us. You know it, and I know it."
Join Soaps.com on Twitter @soapoperafan, "like" Soaps.com on Facebook to dish on "The Young and the Restless," all the other soap operas, "Dallas," "Glee," "Grey’s Anatomy," "Pretty Little Liars," "Revenge," "Vampire Diaries," and "Venice The Series."