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.
The top entertainment headlines for Tuesday, February 14, 2023.
Three people were killed in a shooting at Michigan State University, a suspect was arrested after crashing into pedestrians in New York City, and a scary plunge for travelers leaving Hawaii. Here is everything you Need2Know for Tuesday, February 14, 2023.
Mattel is planning to revitalize the famous purple dinosaur with a new presence across television, film, YouTube, and kids' products such as toys, books, and clothes
Police say the gunman who killed himself hours after fatally shooting three students at Michigan State University was 43-year-old Anthony McRae.
A missing adopted dog found its way back to its former shelter by ringing the facility's camera doorbell late at night.
A study by the Pew Research Center found that three in 10 Americans are single and nearly half of them are turning to dating apps to find companionship.
Forbes named Taylor Swift as the highest-paid female entertainer in the world.
Airbnb is offering a two-night stay in Paris for a Phantom of the Opera-themed stay.
Armen Adamjan, @creative_explained on TikTok, joined Cheddar News to provide some useful tips on how to clean at home with some easy to find household items.
The top entertainment headlines for Monday, February 13, 2023.
