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.
Cheddar News Wrap anchors Ken Buffa and Hena Doba celebrate the conclusion of the Scripps National Spelling Bee on Thursday night by going head-to-head in our very own contest.
Tech-enabled residential hospitality company Mint House recently raised $35 million in a Series B round led by Mohari Hospitality. Mint House was described by one of its backers as 'the best of a hotel without the worst of a hotel, and the best of an Airbnb without the worst of an Airbnb.' Mint House offers apartment-style lodging across the country. The company claims its spaces combine the comfort of a home with the luxury of a hotel in order to give guests all of the perks and none of the tradeoffs. Will Lucas, Founder and CEO of Mint House, joins Cheddar News' Closing Bell to discuss.
Fintech company Acrisure recently raised $725 million in a new funding led by a wholly-owned subsidiary of the Abu Dhabi Investment Authority, bringing the company's valuation to $23 billion. Acrisure offers financial solutions including insurance, reinsurance, real estate services, cyber services, and asset management. The company says its financial solutions are powered by the best of human and artificial intelligence. Greg Williams, co-founder, CEO and President of Acrisure, joins Cheddar News' Closing Bell to discuss.
Jada Pinkett Smith took to her Facebook Watch series, "Red Table Talk" to address the infamous slap by her husband Will Smith on Chris Rock at the past Oscars ceremony. This particular episode centered around her own diagnosis of Alopecia, which became highlighted in the wake of Rock's joke directed at her.
High school seniors are finalizing their college plans for the fall and figuring out their next moves, but experts say the college ranking system can be confusing, and can lead many to make the wrong choice about their futures. John Nader, president of Farmingdale State College, joins Cheddar News to discuss.
We are in the midst of a mental health crisis that needs more attention. New data shows the large toll that the pandemic took on students' mental health with 7 in 10 public schools reporting a rise in the number of students seeking mental health services. Only about half of those schools are able to meet those demands. Dr. Pete Loper, pediatrician and child and adolescent psychiatrist, joins Cheddar News to discuss.
Join Cheddar News as we break down the top headlines this morning including updates on the Tulsa medical center shooting, Johnny Depp V. Amber Heard verdict, and Democrats push for gun control reform.
Caring for one’s emotional well-being is just as important as physical health, but many groups face increased stigmas surrounding mental wellness. Cheddar News looks into the taboos that prevent the AAPI community from seeking help and how one tech company is trying to solve the problem. Plus, explore emerging trends in wellness and learn unique ways to help you get centered.
Queen Elizabeth is celebrating 70 years on the British throne this weekend. The Platinum Jubilee kicks off Thursday. She is the longest-reigning monarch in British history. Cheddar's Shannon LaNiere takes a look back at her remarkable reign.
