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.
Jeff Lee, CEO and co-founder of the DIBS Beauty brand, which is a finalist in the CEW Beauty Awards' make-up tools category, spoke with Cheddar News to discuss his background, career, and success in fashion -- and eventually working with baseball great Alex Rodriguez and influencer Courtney Shields -- after a career as a corporate lawyer.
A study showed that over 51% of Gen-Zers wanted to see more shows and movies about friendships and platonic relationships and most said sex scenes were not necessary.
A poison specialist and former medical resident at Mayo Clinic in Minnesota is charged with fatally poisoning his wife, a 32-year-old pharmacist who died days after she went to a hospital in August with stomach distress.
The estranged son of Nashville’s police chief, who was wanted in the shooting of two police officers, was found dead of a self-inflicted gunshot wound after leading police on a chase in a stolen car, authorities said.
