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.
A new study shows different strategies may be effective at motivating people to donate, apart from all that “sadvertising.” The study from Nathan Chan, assistant professor at the University of Massachusetts Amherst, and Casey Wichman, assistant professor at the Georgia Institute of Technology, found that people in good moods are more likely to donate to a charitable cause.
Actor Randall Park is making his feature debut as a director with the upcoming film, "Shortcomings," and spoke with Cheddar News about the movie. Other cast members also joined to talk about the film.
