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.
Gabrielle Stone invented a fake tiktok trend to share some important news with her husband. Essentially, she challenges him to guess words that she spells out at a rapid-fire pace. She started with "I love you" before moving on to her big announcement.
After testing out some Icelandic cuisine, Cheddar's own Shannon LaNier gets a sneak preview of Taste of Iceland -- a cultural festival running between May 10-13 across New York City.
Cheddar's own Shannon LaNier gets a taste of Icelandic cuisine at Blue Lagoon Iceland in New York City.
Cheddar News reporter Ashley Mastronardi tracks the rise of the "mom-fluencer" or working mothers who have left their jobs to become full-time content creators. While not a new phenomenon, experts say the trend has gained momentum since the start of the pandemic.
Tens of thousands of fans descended upon the Swedish capital of Stockholm to celebrate the opening show of Beyoncé’s new world tour on Wednesday.
Peru’s government will allow the extradition to the United States of the prime suspect in the unsolved 2005 disappearance of American student Natalee Holloway on the Dutch Caribbean Island of Aruba, bringing her family hope there will be justice in the case.
With summer coming up, Cheddar News breaks down some artists that you can check out as music festivals approach for the coming season.
The top entertainment headlines for May 10, 2023.
Be Well: Shopping for the Perfect Pair of Sunglasses
MTV, a division of Paramount, is planning to shut down its news division and lay off 25 percent of its workforce. The company cited "broader economic headwinds" as the reason for the shuttering. The decision comes as Paramount makes cuts to better compete with rival entertainment giants.
