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.
Actor Alicia Silverstone joined Cheddar News to speak with senior reporter Michelle Castillo about the 2023 SXSW premiere of Mustache, which also stars Atharv Verma.
Legendary skateboarder Tony Hawk joined Cheddar News to discuss his recovery from a leg injury ahead of the upcoming X Games in Japan. He also weighed in on a viral meme with Wesley Snipes.
For the first time on the unofficial cannabis holiday 420, cannabis enthusiasts in New York State can purchase their products legally. One of the first licensed adult-use dispensaries across the state was buzzing with business early in the day.
On A Positive Note looks at a middle school ukelele club that is fundraising for the National Bone Marrow Donor Registry while a New Jersey college adds a mini-labradoodle to its faculty and a community in the Bronx comes together through fashion.
