This Week: Has Luxury Hit Bottom?

Not so long ago, reporting quarterly results was a cheerful affair for publicly-traded luxury brands. Despite hefty price hikes, sales were up 10, 20, even 30 percent on post-pandemic exuberance and seemingly endless Chinese demand. So far this year, the earnings calls have been more grim. With a handful of exceptions, big luxury firms have reported flat-to-negative sales, and the outlook has only darkened. Sector bellwether

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