Signs of strength in Europe luxury

• Luxury spending in Europe appears to be on the rise, notes retail watcher Rahul Sharma.
• The analyst notes Audi, BMW, and Mercedes-Benz all posted March sales records.
• Yesterday, LVMH (OTCPK:LVMHF, OTCPK:LVMUY) reported sales increased 16% to €8.3B $8.8B (+3% ex-currency) in Q1 off of a tough comparable period. Sales for the selective retailing category were up 20% Y/Y.
• The trend could set up well for Tiffany (NYSE:TIF), Ralph Lauren (NYSE:RL), Coach (COH), Michael Kors (KORS), Hermes (OTCPK:HESAF, OTCPK:HESAY), and Richemont (OTCPK:CFRUY, OTCPK:CFRHF) which have suffered a bit with Chinese tourism to Europe down.