Retail sales in Hong Kong grew 12.8% in May to trail the estimates of analysts calling for a...

|By:, SA News Editor

Retail sales in Hong Kong grew 12.8% in May to trail the estimates of analysts calling for a 21% gain by a wide margin. The drop could clip expectations for luxury companies which have increased their investments and presence in the region. On watch: Gucci (GUCG.PK), Prada, Louis Vuitton (LVMUY.PK), Coach (COH), Ralph Lauren (RL), Michael Kors (KORS), Swatch (SWGAY.PK), Burberry (BURBY.PK), and Tiffany (TIF).