Wednesday, January 02, 2008
This morning's Chicago Tribune business section had an article saying that the high-end market is starting to slow down.
Previously, the turmoil with high gas prices and real estate were only slowing down sales in middle and low end stores. Luxury sellers, on the other hand, were doing good business.
Now, however, stores like Mordstrom and Neiman Marcus are starting to reduce prices.
Also, luxury goods makers like Coach are starting to drop their prices.
I don't necessarily see this as a sign of recession. Instead, this could just be an overheated luxury market slowing down to a normal pace.