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.
Halloween is just a few weeks away and like any holiday it can get pretty expensive. Shopping expert Trae Bodge joined Cheddar News to explain ways to save while celebrating the spooky season.
Robert Frank, founder and administrator, Sophia Alana Elwell, administrator and lead event organizer and Mike Gilbert, event coordinator, all of DC Cosplayers East, spoke with Cheddar News about the costumes seen at the New York Comic Con.
New York Comic Con is the East Coast's biggest pop culture event and over 200,000 people attend each year, making it North America's most-attended fan convention. Chris D'Lando, event manager for Reedpop, spoke with Cheddar News to discuss what to expect at this year's festivities.
