Data: Luxury Goods Sales May Drop 35 Pct This Year
PYMNTS
MAY 7, 2020
While sales fell 25 percent in the first quarter, the slowdown is expected to accelerate in the second quarter and could lead to an estimated contraction by as much as 35 percent for the year, said the Boston-based investment firm. Online luxury has remained resilient, while brand name stores and department stores have seen sharp drops.
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