Wednesday, October 30, 2013

The Numbers Have Spoken – Luxury Beats Necessity!

 COH, KORS, PVH RL, Business
It’s rather interesting to note that despite the recent financial crisis, sales of luxury goods and services have lately witnessed formidable growth compared to general retailers. Global sales for luxury retailers were up 9% in 2012, while sales for other retailers and department stores increased by just 4% that year.

More recently, same store sales (SSS) growth rates for US luxury retailers have averaged around 11% in the third quarter of 2013, higher than SSS growth for all US retailers combined (6%). Similarly, the Dow Jones Luxury Index is up 18% year-to-date, while the S&P Global Luxury Index has a year-to-date return of 23%. Read More: COH, KORS, PVH, RL

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