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.
Oliver James is a 34-year-old man who has struggled with reading his whole life. He has taken to “book-tok” to document his goal of reading 100 books this year.
Cheddar recs, "Poker Face," "National Geographic Investigates: LSD and Psychedelics," "The Legend of Vox Machina," "The Hatchet Wielding Hitchhiker,""M3GAN," and "Last Night in Soho."
A Newport News, Virginia teacher is set to file a lawsuit against the local school district after she was shot and critically wounded by a six-year-old student.
