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.
Tinder is offering a new feature called Plus One, allowing users to signal that they're looking specifically for a date to a wedding or are open to attending one. The app is also partnering with WeddingWire to help single guests pay for wedding season with a grant giveaway promotion.
For the first time ever, the Food and Drug Administration authorized e-cigarette products for adults, authorizing the marketing of three new tobacco products. R.J. Reynolds Vapor Company can now sell its Vuse Solo products. According to the FDA, the company was able to show its e-cigarettes helped smokers either quit or significantly reduce their use of cigarettes. Derek Peterson, founder and CEO at Soter Technologies, joins Cheddar News to talk about the move.
"Star Trek" actor William Shatner's voice broke with emotion as he recounted his trip into space on the Blue Origin New Shepard rocket to Jeff Bezos on October 13, 2021.
Netflix has come out to defend Dave Chappelle following accusations of transphobia leveled at his recent comedy special "The Closer." Despite the backlash, the streaming giant announced it will not remove the special from the platform.
Britney Spears took to Twitter to thank fans for applying public pressure in the #FreeBritney campaign. The pop star said they ultimately helped in the removal of her father, Jamie Spears, as her conservator after 13 years.
