Tapestry; Walmart; V-Day Rebates

The numbers you need to know today

February 6, 2018

Holiday Boost: Tapestry, whose portfolio includes Coach, Kate Spade & Co. and Stuart Weitzman, reported that Coach's same-store sales increased 3% in the latest quarter. Meanwhile, Kate Spade’s comparable sales fell 7%, but Tapestry intends to take the brand through the same process it used to revamp Coach. According to Reuters, Tapestry plans to reduce the amount of promotional sales it puts out and will "no longer use flash sales widely."

New Look: Walmart's innovation hub Store No 8 has acquired virtual reality (VR) startup Spatialand. Katie Finnegan, who has been heading up Store No 8, declined to say how the company plans to leverage the VR software, Recode reports, and said "the team's work may not be revealed for 12 to 18 months."

V-Day Rebates: When it comes to Valentine's Day gifts, rebates may make the day even better, at least according to new data from YA. Roughly half of respondents said they wouldn't care if their partner took advantage of a rebate for their Valentine's Day gift. In fact, only 1% said they would be offended their significant other was looking for deals.