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.
Talk show host Jerry Springer speaks in New York on April 15, 2010. Springer, the former Cincinnati mayor and news anchor whose namesake TV show unleashed strippers, homewreckers and skinheads to brawl and spew obscenities on weekday afternoons, has died. He was 79. A family spokesperson died Thursday at home in suburban Chicago. (AP Photo/Richard Drew, File)
Kenan Thompson is now the longest-serving cast member in the history of Saturday Night Live, starting his tenure back in 2003. The actor and comedian talked about the show, the upcoming Good Burger sequel, and his efforts to recruit and develop young talent around the country through his organization YoungStars 360.
