Growth in luxury spending not michael kors crossbody bags rhea necessarily the best gauge of u


Luxury retailer michael kors and its competitor coach this week reported quarterly revenue growth that exceeded analysts' expectations.Michael kors, whose handbags cost between about

, sells almost

Growth in luxury brand spending suggests that americans, especially those at the upper end of the income spectrum, are more confident and willing to open up their suede messenger bags and leather wallets for pricier purchases.Equity markets, as well as improved labor market conditions.But it may not necessarily be the best gauge for how well the overall economy is doing.

"When you get into upper income these people are pretty unaffected by normal business cycle fluctuations, but the crisis did seem to impact them quite substantially,"Says barry bosworth, senior fellow at the brookings institution. "This should be the best of times for that market.The overall labor market situation has sort of stabilized, the stock market has been booming. "

Unemployment fluctuations and other short term job market indicators don't make much of a difference for the highest earners, bosworth says.

A recent labor michael kors shoulder bags skorpios department

Report showed that for the first time since 1997, employment growth exceeded 200, 000 jobs per month michael kors bags uk for six months straight.At the same time, average hourly earnings have only risen 2 percent, in line with the cost of living.Economy is"Not getting any better or worse"For wal mart's core customers.Going to the wealthiest households is"Perhaps the most important from a luxury perspective,"According to a recent

Report on the global luxury goods market.

[ALSO:Inequality's not all equal]

"People in top 10 or top 5 percent cohorts are seeing significant gains in real incomes and almost else is seeing almost no gains in real incomes.That has created an opportunity for luxury purveyors,"Says ira kalish, chief economist attouche tohmatsu limited, and a contributor to the report. "In this case, mid to upper range luxury is growing in part because of the rising income disparity.For all other retailers and suppliers of apparel, they're looking at a relatively stagnant market. "

In july, confidence among americans who make more than $50, 000 annually returned to its highest level since 2007, according to the conference board's monthly index, which gauges consumers' outlook on the economy and reflects how they might decide to save or spend.

Still, there are a number of factors that weigh on the michael kors shoulder bags uk purchasing decisions of even the highest earners including short term gyrations in the stock market and student debt for younger americans that affect purchasing of luxury items.

"We've seen a pickup in [spending on] higher priced brands because generally speaking, the higher income individuals have been able to make these kinds of purchases,"Says jack kleinhenz, chief economist at the national retail federation. "It's still very choppy at times though.I think that kind of reflects the ongoing up and down concern that even the better than average income earners has. "

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