Feb 8, 2017

Luxury handbags feel the pain from discounts

Michael Kors revenue dropped in recent months because of discounts in North America; although the number of handbag units the fashion company sold increased, handbag sales declined, indicating skimmed dollars on sales.

Data: Money.net

The next move: The fashion company aims to sell its handbags at full price, by improving craftsmanship and using better-quality leather since its handbags at full price sold well all last season. Coach recently made a similar move to avoid discounted pricing.

Why this matters: The luxury bag market is crowded with competition, making it difficult to sell at premium prices and dragging prices down. Michael Kors CEO John Idol predicted dollar terms would not increase this year at all for handbags, per the WSJ.

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Mass shooting in Milwaukee: What we know

Milwaukee Mayor Tom Barrett in 2012. Photo: John Gress/Corbis via Getty Images

Six people died in a shooting at the Molson Coors Brewing Company in Milwaukee on Wednesday, including the gunman, Mayor Tom Barrett told reporters at a Wednesday evening press conference with local police.

Details: All of the victims worked at the brewery complex, as did the shooter who died of "an apparent self-inflicted gunshot wound," police confirmed in a statement late Wednesday.

Go deeperArrowUpdated 4 hours ago - Politics & Policy

Coronavirus updates: South Korea case count tops 2,000

Data: The Center for Systems Science and Engineering at Johns Hopkins, the CDC, and China's Health Ministry. Note: China numbers are for the mainland only and U.S. numbers include repatriated citizens.

33 people in California have tested positive for the coronavirus, and health officials are monitoring 8,400 people who have recently returned from "points of concern," Gov. Gavin Newsom said Thursday.

The big picture: COVID-19 has killed more than 2,850 people and infected over 83,000 others in some 50 countries and territories. The novel coronavirus is now affecting every continent but Antarctica, and the WHO said Wednesday the number of new cases reported outside China has exceeded those inside the country for the first time.

Go deeperArrowUpdated 5 hours ago - Health

Syria's darkest chapter

Family room without a family, in Idlib. Photo: Muhammed Said/Anadolu Agency via Getty Images

The worst humanitarian crisis of Syria’s brutal civil war is colliding today with what could be the war’s most dangerous geopolitical showdown, after at least 29 Turkish troops were killed in an airstrike.

The big picture: The fighting is taking place in Idlib in northwest Syria, where a ferocious Syrian and Russian offensive has displaced 1 million civilians and infuriated Turkey, which borders the region.

Go deeperArrow6 hours ago - World