Work is getting really weird

1. How Coach turned its flop era into a slay. Though the designer’s once-coveted handbags fell out of fashion in the 2010s, Coach’s post-pandemic renaissance has been swift and fruitful. It’s largely thanks to the brand’s resonance with Gen Z.
2. Why your local pharmacy may be closing. Corner drugstores across the country are shuttering, with major retailers Walgreens, CVS, and Rite Aid shutting down hundreds of stores. A string of short- and long-term challenges are contributing to their contraction.
3. The weird, wild world of the US housing market. Real estate is defying an Econ-101 principle: the law of supply and demand. Demand is at a four-month low, supply is at a four-year high, and prices are at unprecedented heights. “It’s a real head-scratcher,” economist David Rosenberg said.

In other news

• The tricks psychics use to part us from our money tell us a lot about America’s spending habits.
• 11 VC firms funding the next phase of the creator economy, from AI-powered tools to e-commerce startups.
• Ultra-high-net-worth investors are betting on 2 key sectors right now, and both can be purchased as ETFs, according to a global family office.
• Why ESPN’s sports-betting app is falling behind — and how it could make a comeback.
• How Glossier’s viral perfume saved the brand from the millennial dustbin.

What’s happening today

• Supreme Court is expected to rule on Donald Trump’s immunity from criminal prosecution for his actions on Jan. 6, 2021.
• Wimbledon begins.

The Insider Today team: Dan DeFrancesco, deputy editor and anchor, in New York. Jordan Parker Erb, editor, in New York. Hallam Bullock, senior editor, in London. Grace Lett, associate editor, in Chicago. Annie Smith, associate producer, in London. Amanda Yen, fellow, in New York.