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Kevin Berk
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Kevin Berk is a strategic investor, entrepreneur and an expert in online media. He helped develop online ventures at CitySearch and Disney, and was instrumental in the merger of TicketMaster and CitySearch and the combined company's IPO. (It is now owned by IACI.) He founded in the... More
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  • My 7 Luxury Goods Companies Got Hammered  0 comments
    Sep 29, 2011 8:41 PM | about stocks: EL, JWN, LULU, RL, TIF, TPX, COH

    Two weeks ago, I posted about how luxury goods companies are in for some rough sledding.  Today, they tanked.  There is some worry that a slowdown in Chinese growth will disproportinately hurt these companies.  That is a concern, but I still worry about a slowdown in spending among high-end consumers in the US.  In fact, recent Amex data supports this worry: 

    These stocks are now down more than 5% in aggregate since my post and I think they may have another 25% downside from here.

    For the 7 stocks discussed in my article, here is the carnage today on above average volume:

    Source: Yahoo Finance

    Disclosure: I am short all of these except JWN and COH.

    Stocks: EL, JWN, LULU, RL, TIF, TPX, COH
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