First Lady's Wardrobe Sways Stock Prices
RENEE MONTAGNE, host:
And today's last word in business is about the first fashionista.
Michelle Obama wears high-end designer outfits, but also shops at stores like Kohl's, The Gap and J. Crew. Turns out, the first lady is more than a trendsetter. The Harvard Business Review analyzed the impact her wardrobe choices had on 29 publicly traded companies whose clothes she's worn. Those shares tend to go up after Mrs. Obama wears their clothes.
The magazine says, so far, the first lady effect is worth an additional $2.7 billion for the combined stock of those 29 companies, and the effect did not seem to depend on her husband's approval rating.
And that's the business news on MORNING EDITION, from NPR News. I'm Renee Montagne.
STEVE INSKEEP, host:
And I'm Steve Inskeep.
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