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.
With many media companies pivoting to streaming, it's been a gold rush for original content. Cheddar News' Michelle Castillo reports on the flood of content coming out from SXSW.
Acclaimed artist and best-selling author Morgan Harper Nichols joins Cheddar News to discuss how she's helping others embrace their next adventure in her latest book, and how to focus on prioritizing your mental wellness.
More witnesses are expected to testify on Wednesday in a trial about a 2016 ski crash between Gwyneth Paltrow and a retired Utah man suing her and claiming her recklessness left him with lasting injuries and brain damage.
Cheddar News' Shannon LaNier visits the new exhibit at the Fashion Institute of Technology called "Fresh, Fly, and Fabulous: 50 Years of Hip Hop Style.
