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.
Fans have pushed the Fisher-Price Corn Popper into the National Toy Hall of Fame, elevating it from perpetual finalist to 2023 inductee, alongside baseball cards, Cabbage Patch Kids and NERF foam toys, the Hall of Fame announced Friday.
During an interview with an elephant keeper in South Africa, the keeper was talking about the baby elephant he looks after whose name is Chavo, who immediately runs over to the keeper once he hears his name and starts playing with him.
Trained service dogs can help military veterans deal with mental health struggles. Cole Lyle, a veteran and founder of Kaya's K9s, joined Cheddar News to explain why service dogs are important for veterans and how he is helping to give veterans the resources for service dogs.
A jury awarded more than $1.2 million to Robert De Niro’s former personal assistant Thursday, finding one of his companies responsible for subjecting her to a toxic work environment.
