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.
Lydia Simmons, founder of 'Moms Official Objective' or 'M.O.O.,' joins Cheddar News to discuss nutritional and hormonal support products for every stage of womanhood.
Plant-based hair extension company Rebundle recently raised $1.4 million in a pre-seed round led by M25. The company based in St. Louis says it is revolutionizing hair extensions with more comfort and less waste. Rebundle's braiding hair is made from a non-toxic, biodegradable plant, which the company says is better for the scalp and the environment. Rebundle Co-Founder and CEO Ciara Imani May and Co-Founder and CMO Danielle Washington joined Cheddar News' Closing Bell to discuss.
The metaverse platform Decentraland hosted its first wedding over the weekend. The union was overseen by Rose Law Group, at the firm's virtual property, hosting witnesses including 2,000 guests. The ceremony endured some technical glitches before being completed.
Alex Monaco, Host of 'The Bettor Half Hour,' joins Cheddar News to discuss what viewers can expect from MSG's 'Bet-A-Palooza,' and what casual sports fans should know about sports betting.
Actor, singer, and dancer Joey Fatone can now add chef to his repertoire, partnering with Schlotzsky’s, a pizza and sandwich restaurant franchise, to introduce the "Fatone Calzone." The triple threat entertainer joined Cheddar News to talk about the partnership as well as a potential NSYNC reunion. "So, it's like everybody's kind of everywhere. It's that moment of saying, do we want to get together? Do we do it? And how is it going to be done? You know, that kind of stuff. So, who knows? Never say never. Never say never," he explained.
The gaming industry has been under the spotlight so far this year following some big mergers and acquisitions. This week featured earnings of three major gaming companies, but also Meta and for the latter, things are not doing too hot. Joining Cheddar News to break it all down was Kenny Rosenblatt, President and Co-Founder of Arkadium.
Former Miami Dolphins head coach Brian Flores has filed a lawsuit against his old team along with the Denver Broncos and the New York Giants. Flores alleged that the league has been following racist practices in its hiring process. Former NFL quarterback and Sports Analyst and Commentator, Lester Ray Ricard Jr, joined Cheddar to discuss more.
