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.
Sēkr, a mobile app that aims to improve and digitize the outdoor travel experience, announced this week that it raised a $2.25 million seed round. In the Sēkr app, users can get access to more than 50,000 campsites throughout the U.S. including the nation's largest database of free campsites. The company is saying it is on a mission to make every step of the planning experience for outdoor travel easier, safer, and more social. Breanne Acio, co-founder and CEO of Sēkr, and Jess Shisler, co-founder and COO, joined Cheddar News' Closing Bell to discuss.
In a 5-4 vote, the U.S. Supreme Court allowed for a controversial new version of the Alabama congressional map to remain in place. The lower court had previously ordered that the state must redraw that congressional map because it violates the Voting Rights Act by diluting the political power of Black voters. Redistricting expert Yurij Rudensky joins Cheddar News to weigh in.
The Winter Olympics are in full swing and athletes from around the globe are showcasing their elite skills at a wide variety of events. There's a lot of excitement but also a lot of pressure for these athletes. Former NFL defensive tackle and Super Bowl champion Dominique Easley joined Cheddar News to weigh in.
American freestyle skier Jaelin Kauf joins Cheddar News to talk about taking home the silver medal in the Women's Moguls Final at the 2022 Winter Olympics.
This episode of ChedHER is all about helping women thrive in their careers and rise up in the ranks. Guests include female leaders from across industries including sports, advertising, and so much more.
Sonja Stills, Commissioner of the Mid-Eastern Athletic Conference, joins ChedHER to discuss her experience being the first female leader in this role, and how she plans on carrying on the legacy of the MEAC.
Sheri Bachstein, CEO of The Weather Company and GM of IBM Watson Advertising, joins ChedHER to discuss her successes in this role, and how she's helping women thrive in the c-suite.
