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.
Less than 30% of consumers will apply for a store credit card this holiday season according to a recent LendingTree survey. Matt Schulz, Chief Credit Analyst at LendingTree, joins Cheddar to discuss the pros and cons to store credit cards, and how 'buy now, pay later' loans are coming into play during the holiday shopping season.
Elliot Wolf, EVP of Digital at Wolf Entertainment, and Ben Arnon CRO at Curio, join Cheddar News to discuss the new NFT project called the Wolf Society.
Darnell M. Hunt, Dean of Social Sciences at UCLA an co-author of UCLA's Hollywood Diversity Report, joins Cheddar News to discuss how the latest report reveals TV content from diverse writers and with diverse casts resonated with pandemic audiences.
Tony award-winning actress Anika Noni Rose joined Cheddar's "Between Bells" to discuss the upcoming third season of the podcast, Being Seen. As Rose's first time hosting the series, she explained that it was important for her to do so to offer a unique perspective potentially with the power to change narratives. "We have the ability in our media and our entertainment to change the space in which Black women are seen, to change the narrative of the strong Black woman, and to show a more humanistic view of Black women and Black femmes that will bring people to an understanding and a connection that maybe they didn't otherwise have," she said. Rose also touched on her role in the Netflix series "Maid."
Paid family & medical leave is left out of President Joe Biden's Build Back Better domestic policy plan. Abby Vesoulis, reporter for TIME joins Cheddar News to breakdown what this means for Americans.
Oatly Chief Sustainability Officer, Ashley Allen joins Cheddar News to talk about food waste and hows its been left off the table in the upcoming COP26 agenda. Ashley will be on the ground at COP26 and advocating for this conversation to get the attention it deserves.
Carlo's flying solo today, talking COP26 and climate change, another racially charged trial gets underway, SCOTUS takes on abortion and a stunning rise in traffic deaths points to a bigger societal breakdown sparked by the pandemic.
Apple reported strong fourth quarter earnings, but sales fell below expectations. CEO Tim Cook said chip shortages and manufacturing delays cost the company $6 billion. The issues have led to the newly-launched iPhone 13 Pro being in short supply around the world, as well as to back orders for Apple's new Macbook Pro. Exponential Investment Partners Managing Partner Kevin Riley joined Cheddar News' Closing Bell to discuss.
Electric bike company Dance recently raised $19.4 million, just weeks after rolling out its e-bike subscription service in Berlin. Dance allows users to subscribe to use an e-bike for around €79, or about $91, a month. Dance says its subscription model allows the company to reuse and refurbish its products, and further its mission to build more sustainable and livable cities. Dance founder and CEO Eric Quidenus-Wahlforss joined Cheddar News' Closing Bell to discuss.
