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.
Julie Boardman, co-founder of The Museum of Broadway, joined Cheddar News to discuss the
history of theater in New York City, showed some of the gallery exhibits and gave a behind-the-scenes tour of how some of the shows are produced.
Dania Diaz, managing director of Roc Nation and one of the founding members of its United Justice Coalition, joined Cheddar News to discuss how the organization helps to address violence in Black and Brown communities and what they expect to talk about at an upcoming summit.
A new study examined the link between mental health and internet use and didn't find that it was consistently linked to negative psychological outcomes.
A judge overseeing the estate of Aretha Franklin awarded real estate to the late star's sons, citing a handwritten will from 2014 that was found between couch cushions.
