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.
Molly Shannon and Ana de Armas are set to host Saturday Night Live next month. Shannon, a former cast member, will host on April 8 while de Armas will host for the first time on April 15.
On this episode of ChedHER: Melissia Hill, Founder and CEO of Ooshie, breaks down the challenges of growing a business, and the rise of Black women entrepreneurs; Sandra Velasquez, Founder of Nopalera, explains why she turned down investors on Shark Tank, and what she looks for in investors; Freada Kapor Klein, Founding Partner of Kapor Capital, talks about ways to close the equity gap; Ashley Tyrner, CEO and Founder of FarmboxRx, is this week's female founder spotlight of the week.
Actor Keanu Reeves joined Cheddar News this week to talk about the fourth sequel project its place in the franchise and how filming John Wick has impacted his life.
