Shares of Michael Kors, Fossil, and Avon Products all opened sharply higher on Tuesday after the companies posted encouraging quarterly results. The strong reports show that consumers are starting to warm up to the luxury goods that were hard to justify when the economy was sputtering.
Fashion company Michael Kors Holdings Ltd raised its full-year forecast after handily beating Wall Street estimates for its third-quarter results with the help of strong sales of luxury items in North America and Europe during the holidays. The results sent the company's shares up 13 percent to a lifetime high on the New York Stock Exchange.
There's never a dull moment on Wall Street, especially when you add holiday shopping season to the mix. Let's go over some of the items that will help shape the week that lies ahead.
New York Fashion Week is over, but the work is just getting started at the nation's big chain retailers. DailyFinance asked fashion and trend directors at Macy's, J.C. Penney and Banana Republic what we'll be seeing this spring.
