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.
The drama surrounding tennis star Novak Djokovic continues after he was deported from Australia over the weekend due to the nation's COVID-19 vaccine requirements. Djokovic was forced to leave the country on the eve of what was to be his first match in defense of his Australian Open title after three judges ruled in favor of his removal and revealed their reasoning for doing so. Adding to his woes, a law recently passed in France is putting his chances of defending his French Open title in jeopardy. The director of Marist's Center for Sports Communication, Jane McManus, joined Cheddar to discuss the ongoing fallout.
Alex Silverman, senior reporter covering the business of sports at Morning Consult, joins Cheddar News to discuss why the number of those betting on sports doubled in 2021 and what's next for the industry in 2022.
Alec Baldwin is facing a lawsuit from the family of a fallen marine, Rylee McCollum, for defamation of Rylee's sister Roice. The lawsuit claims Baldwin, who had donated to a fund for the family of Rylee, called Roice an insurrectionist for being present during the January 6 Capitol riots.
Sports Illustrated Swimsuit is marking the 58th anniversary of its first print issue with the announcement of a new advertising mandate called Pay With Change. The magazine's annual print will now only feature brands who are helping drive gender equality forward, creating a sweeping call to action for the publishing industry. MJ Day, editor-in-chief of SI Swimsuit, joined Cheddar to discuss the goals of the new initiative.
Cost of living in the U.S. is getting higher and higher, as inflation pushes up the prices of everything from food to gas. According to a recent Ipsos poll, more than two thirds of people around the world are feeling the squeeze, and low income households are feeling it the most. Garrett Boorojian, Managing Partner at WaveCapital Partners, breaks down some of the factors driving cost of living and how to adjust your budget accordingly.
Sonia Thompson, inclusive marketing strategist and consultant, breaks down the need to retool the hiring process and how organizations can make for a better workplace environment.
Each year plenty of people decide to kick off their new year's resolutions by participating in what is known as "Dry January." Basically one month without alcohol. The practice has gained popularity as a way for social drinkers to take a break from booze for a bit. However, some people are making the decision to take it beyond January. CMO at Heineken USA Jonnie Cahill, joined Cheddar to discuss more.
On this episode of Cheddar Innovates: Vrai CEO discusses the process of creating lab grown diamonds, Entrupy CEO breaks down how the app uses artificial intelligence to analyze authenticity for luxury goods and sneakers; A look at Curiosity Stream's 'Red Elvis.'
