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.
The top entertainment headlines for May 12, 2023.
One especially enthusiastic dog, named Fuzzybear, is gung-ho about getting his North Carolina owner's mail, darting across the lawn when the mail truck arrives and carrying back a mouthful of envelopes.
Cheddar's own Shannon LaNier visited The Paris Café at the South Street Seaport in downtown Manhattan to get a taste of the perfect Mother's Day brunch and sample the historic brasserie's DIY flower bar.
Cheddar's own Shannon LaNier visited The Paris Café at the South Street Seaport in downtown Manhattan to get a taste of the perfect Mother's Day brunch and sample the historic brasserie's DIY flower bar.
The cast of Netflix's Queen Charlotte: A Bridgerton Story joined Cheddar News' 'Trending' to talk about their roles in the Bridgerton prequel series.
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A dog in North Carolina enthusiastically waits every day for the mailman to arrive to fetch mail for his owner.
Cheddar recommends "Dear Mama," "Dead Ringers," "Jury Duty," "Elton John Live: Farewell from Dodger Stadium," and "Guardians of the Galaxy" collection.
The top entertainment headlines for May 11, 2023.
