This holiday season seemed to be in favor of the luxury retail brands. Tapestry and Michael Kors reported better-than-expected earnings last week. Melissa Armo, Owner of The Stock Swoosh and Melissa Gonzalez, CEO & Founder of The Lionesque Group, join The Long and The Short to discuss trends in the luxury market.
Tapestry credits the boost in sales to its Coach brand. Sales rose 2% to $1.23 billion last quarter. In order to get Coach back on track Tapestry cut flash sales and discounts, bringing it back to its luxury roots. Many believe it should do the same thing for its struggle division of Kate Spade. Kate Spade's global same-store sales fell 7% last quarter.
Plus, Michael Kors is making a comeback. Sales rose over 6% last quarter after trimming back promotions and expanding its footwear collection. However, Armo still isn't impressed with the company. She's disappointed the stock dropped so heavily right after earnings and is still concerned about its ability to get people into the store.
A Gallup poll finds that now 7.1% of American adults identify as LGBTQ, jumping from 3.5% in 2012. The increase is driven by Generation-Z – those born between 1997 and 2003 – of whom one out of five identify as LGBTQ. Cheddar News speaks with Washington Blade reporter Chris Johnson about the significant shift.
Bamboo-based toilet paper company Cloud Paper raised $5 million in a recent funding round. Its product is a bamboo-based alternative to traditional toilet paper made from trees, and its mission is to end the deforestation caused by traditional paper products. Cloud Paper says the raise will allow it to make significant investments in its supply chain, product development, and hiring. Ryan Fritsch, a co-founder of Cloud Paper, joined Cheddar News' Closing Bell to discuss.
Anne Price, president of the Insight Center for Community Economic Development, discusses how Black Americans have been adversely impacted by rising home prices and offers tips for wealth building.
Ellen Goodwin, Co-Founder and Chief Solutions Officer of Artifcts, joins ChedHER to discuss how she's creating a platform to preserve the history of your belongings, and her experience succeeding in male-dominated industries.
Keren Sachs, Founder and CEO at The Luupe, joins ChedHER to discuss how her platform bridges the gap between diverse creators and brands, and what the future of the creator economy looks like.
Thelma Ferguson, Managing Director & Northeast Segment Head at JPMorgan Chase Commercial Banking, joins ChedHER to discuss the upcoming Women Presidents Organization's "50 Fastest-Growing Women-Owned/Led Companies" ranking, and what kind of impact women entrepreneurs have on the overall economy.
On this episode of ChedHER: Artifcts Co-Founder breaks down how she's creating a platform to preserve the history of your belongings; The Luupe CEO explains how her platform bridges the gap between diverse creators and brands; Managing Director & Northeast Segment Head at JPMorgan Chase Commercial Banking discusses the upcoming Women Presidents Organization's "50 Fastest-Growing Women-Owned/Led Companies" ranking.
