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.
Jeffrey Yin, chief financial officer of Artsy, and artist Trevor Paglen explained how AI is expanding the tools that can be used to add new depth to the industry.
A former neonatal nurse convicted of murdering seven babies in her care and trying to kill six others at a hospital in northern England was sentenced Monday to life in prison with no chance of release by a judge who said she was cruel, cunning and callous, and acted with “malevolence bordering sadism.”
The U.S. Open isn't just about the tennis - it has also become a scene for foodies. Chef Melba Wilson, who will be among the top experts serving up delicious bites for more than 700,000 fans, walks us through how to make her special spring rolls.
The DC superhero film “Blue Beetle” led weekend ticket sales with an estimated $25.4 million, according to studio estimates, dethroning “Barbie” from the top spot after a record-setting run that left movie theaters colored pink for a month.
