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.
Unesco called for a worldwide ban on smartphones in classrooms, claiming that excessive usage was linked to reduced educational performance and emotional problems.
Putting together a box of roses or any other type of flowers is a fun and creative task but even better when flowers last for a year like they dow at Rose Box NYC. Gal Yakir, head of operations and marketing specialist, joined Cheddar News to explain the process.
Rose Box NYC, a flower shop in New York City where rapper Cardi B has purchased from, helps arrange unique bouquets and provides attractive, preserved floral arrangements. Gal Yakir, head of operations and marketing specialist, spoke with Cheddar News behind its process.
