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.
Cheddar News correspondent Shannon LaNier rings in the Thai New Year at 11 Tigers in the East Village neighborhood of Manhattan. The restaurant is one of the only locations in New York City to celebrate.
Cheddar News correspondent Shannon LaNier rings in the Thai New Year at 11 Tigers in the East Village neighborhood of Manhattan. The restaurant is one of the only locations in New York City to celebrate.
Cheddar News correspondent Shannon LaNier rings in the Thai New Year at 11 Tigers in the East Village neighborhood of Manhattan. The restaurant is one of the only locations in New York City to celebrate.
Jeremy Renner attended the premiere for his new series Tuesday, capping a remarkable recovery less than four months after the "Avengers” star was nearly killed in a snowplow accident.
Cheddar News sat down with two of the funniest actresses on television, Wendi McClendon-Covey and Michaela Watkins, who've made us laugh in series such as The Goldbergs and Casual and are now co-starring in the Bob Ross-inspired movie Paint.
