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Holiday Retail Sales Rose 8.5% From 2020, Mastercard Says
Despite challenges like inflation, labor and product shortages, and the Omicron variant, holiday sales saw record levels of growth this year, according to a new report from Mastercard SpendingPulse. The group reports on national retail sales across all payment types, finding that holiday sales rose at the fastest pace in 17 years this year. Mastercard senior advisor and former chariman and CEO of Saks Incorporated Steve Sadove joined Cheddar News' Closing Bell to discuss.
Talking Tesla EV Challengers in China: Huawei, Nio, and XPeng
Keith Fitz-Gerald, chief investment officer at Fitz-Gerald Group, spoke to Cheddar about the growing competition for Tesla's electric cars in China as tech giant Huawei enters the race. "There's a lot of legacy worry, but that does not discount the possibility that Elon might have a contender on his hands," he said about the sometimes troubled telecom company. Fitz-Gerald also gave a nod to two other local rivals, Nio and XPeng, noting the latter as having something of an edge with its CEO He Xiopeng being lauded by Chinese state media.
Home Essentials Brand Parachute Sees Strong 2022 for Brick and Mortar Retail
Ariel Kaye, ​founder and CEO of home goods business Parachute, joined Cheddar to discuss the company's sales success over the holidays as it navigated supply chain issues. She also expects a strong showing in 2022 with the continuation of 2021 trends. "The hybrid work model is going to be here for a long time," Kaye said. The business, which currently has 12 physical locations, plans to expand to 30 brick-and-mortar shops by the end of 2022.
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