Behind Citi's downgrade (I, II) on high-end retail stocks: Though sluggish tourism in Europe and...


Behind Citi's downgrade (I, II) on high-end retail stocks: Though sluggish tourism in Europe and a weak stock market that continues to dampen the enthusiasm of luxury buyers are the headliner items off Citi's report on Macy's, Nordstrom, and Saks - sitting behind the scene as a drag on returns is the big bet some of the firms in the sector are making on technology. Now that the rich aren't buying, that capex spending looks less promising.

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  • TruffelPig
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    Who said the rich aren't buying? Citi? LOL. I like to see earnings reports of COH, KORS, RL, etc. first before I believe this. Anyhow, the season is Christmas, not summer. Good to stock up now on those stocks before the season starts kicking in in October or so.
    27 Jun 2012, 01:34 PM Reply Like
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