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.
Guerdy Abraira, Global Event Planner and 'The Real Housewives of Miami' cast member joins Cheddar News to discuss the latest season as well as making the most out of your NYE celebrations.
David Ewalt, Editor-in-Chief at Gizmodo joins Cheddar News to discuss a TikTok moderator suing the platform over mental trauma caused by graphic videos
The pandemic has supercharged the creator economy, and there are no signs of it slowing down no matter when the pandemic officially ends. Creators prove to be a key factor in driving purchasing decisions and retail sales, and an increasing amount of platforms are taking advantage of the social influence. Karissa Bell, senior editor at Engadget, joins cheddar news to discuss the creator economy boom.
The E-V maker Tesla has had a wild year. The company managed to continue to dominate the U.S. electric vehicle space despite growing competition and production delays. As the end comes to an end, Tesla finds itself growing richer and richer. Author of Risk Ritual Newsletter Richard Smith, joined Cheddar to discuss more.
Venture capitalists and CEOs are clashing over the future of the internet. Web3 is the tech world's name for a decentralized, blockchain-based internet that runs on cryptocurrency. It was recently the topic of a tweet from Block CEO and former Twitter CEO Jack Dorsey who wrote that Web3 will not actually be owned by users, and instead be controlled by rich venture capitalists. Dorsey later shared that he was blocked on Twitter by Marc Andreesen, co-founder of VC firm Andreesen Horowitz, which has invested billions of dollars into Web3 and crypto projects. Correspondent for DealBook from the New York Times, Ephrat Livni, joins Cheddar News' Closing Bell to discuss what this could mean for the future of Web3.
Prices at the pump this year reached a seven-year high, and a new forecast from GasBuddy shared with CNN predicts that gas prices will only continue to rise in 2022 and that the national average could even reach $4.00 a gallon; however, analysts at GasBuddy say anything could happen when it comes to gas prices in the future, as the pandemic has made it difficult to make any predictions about the economy. Consumer Energy Alliance federal policy advisor Michael Zehr joins Cheddar News' Closing Bell to discuss.
