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.
In this edition of Tik Talk None Of The Above's J.D. Durkin breaks down the latest trend on TikTok where people sit down to tape a scholarship application video and it all goes off the rails.
First American Deputy Chief Economist Odeta Kushi joins Closing Bell to discuss the pros and cons of renting vs. owning your home in the current market. Owning can involve extra costs -- but compared to renting, it's better to own in order to build equity.
It's hard to believe that 2020 will soon be something we went through two years ago. Although we are making progress as a society, it's clear that looming mental health problems continue to be reported for people nationwide. A new study by the telehealth company Evernow, found that women are largely being impacted by the tolls of the pandemic. Dr. Alicia Jackson, CEO and founder of Evernow joins us to discuss those factors.
In stories sure to move markets next week, Robinhood and several retail giants report earnings, Jerome Powell takes the podium, New York City's mask mandate goes into effect, and Tesla hosts its 'AI Day.'
