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.
King Charles III will be taking a shorter ride to Westminster Abbey, trimming the procession route his mother took in 1953 as he aims for a more modest coronation that will include some modern touches.
Chef Danielle Sepsy, a finalist on the cooking competition show The Big Brunch and owner of The Hungry Gnome bakery in New York City, explains how her delivery customers are able to enjoy fresh-tasting cookies at home and how her big TV spot translated into more hiring.
Egg prices have skyrockets since last Easter, with prices more than doubling between February 2022 and February 2023. Now families are trying to balance their budgets with the Easter tradition of dyeing eggs.
Chef Danielle Sepsy, a finalist on the cooking competition show The Big Brunch and owner of The Hungry Gnome bakery in New York City, demonstrated how to manke her famous, ooey-gooey Bunny Track cookies.
