Luxury Brands Brace For Lacklustre Christmas Amid Sales Slowdown, Inventory Pile-Up Fears Take Over menafn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from menafn.com Daily Mail and Mail on Sunday newspapers.
Luxury Slowdown Prompts Fears of Inventory Pile-up Over Key Holiday Season businessoffashion.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businessoffashion.com Daily Mail and Mail on Sunday newspapers.
Fashion Retailers: The latest U.S. credit card data from Barclays released on Wednesday showed that spending on luxury goods remained negative in November, down 15% year-on-year after a decline of 14% in October. That performance "doesn t bring much optimism" for the fourth quarter, with the weak trends in the U.S. reason for caution about the performance of luxury brands over the period, Barclays analysts said.
Early holiday shopping season discounts from high-end fashion retailers like Bergdorf Goodman on New York's Fifth Avenue raised concern that a lackluster Christmas could lead to inventory gluts – potentially dragging labels into a discounting spiral that would cheapen their image. The latest US credit card data from Barclays released on Wednesday showed that spending on luxury goods remained negative in November, down 15% year-on-year after a decline of 14% in October, Reuters said.