Ebbing Luxury Demand Puts These ETFs in Focus [Yahoo! Finance]
BURBERRY GROUP PLC S/ADR (BURBY)
NASDAQ:AMEX Investor Relations:
burberryplc.com/en/investors.html
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Source: Yahoo! Finance
In spite of China reopening in early 2023, demand for personal luxury items at constant currency rates dropped down to 8%, just marginally above global inflation, according to Bain, as quoted on Financial Times. This follows a remarkable three-year period of nearly 20% average sales growth. The slowdown in demand is indicative of the substantial downturn in the market. Analysts at Bain and Citi estimate modest growth between 4% and 6% on average, just enough to offset industry inflation. With many market participants dealing with substantial debt and excessive inventory, challenges in 2024 are elevated due to rising operating costs, driven by increased wages and rents. Data to Support the Pessimistic Outlook The S&P Global Luxury Index has fallen 4.36% over the past year, as of Jan 18 2024. In stark contrast, the broader S&P 500 Index has demonstrated a remarkable outperformance, surging by 21.69% over the past year. The luxury goods index remains on its downward trajectory, f
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