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.
Rescue teams in eastern Libya have retrieved hundreds of bodies from the city of Derna that's been inundated by devastating floods that killed hundreds.
Authorities searched Monday for escaped murderer Danelo Souza Cavalcante who has eluded capture since breaking out of a southeastern Pennsylvania prison a week and a half ago after he apparently slipped through a search perimeter, changed his appearance, stole a dairy delivery van and contacted acquaintances.
An earthquake has sown destruction and devastation in Morocco, where death and injury counts continue to rise as rescue crews dig out people both alive and dead in villages that were reduced to rubble.
Self-care is important in everyone's lives but sometimes it could be hard to fit it into your budget. Wellness expert Sam Tejada, author of "How to Win in Modern Wellness," joined Cheddar News to explain how to treat yourself without breaking the bank.
