Against a backdrop where earnings estimates have been guided down in the second half of the year, th...
Against a backdrop where earnings estimates have been guided down in the second half of the year, the performance of some luxury goods companies in the US has been strong. Over the year to 4 September 2001, Tiffany is down 1.5% in dollar terms, compared to the S&P, which is down 14%. Coach, which designs, produces and makes luxury leather goods, is up 7.56% from 31 January to 31 August, compared to the S&P 400 mid-cap index, which is down 5.88% over the same time period. Susan O'Brien, head of US equities at First State Investments, says this performance is counter-intuitive of the econ...
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