Polo and Burberry Profits On The Rise
Filed under: Apparel
This story isn't terribly surprising as it seems global luxury lines are faring much better in this difficult market and economy than the less-than-high-end brands. Case and point, Burberry and Polo soar while Chico's and American Eagle plunge. The first quarter earnings are in showing Burberry and Polo with increases of 17% and 21.6% respectively over last year's marks which is a good sign seeing as how Chico's posted a quarterly decrease in sales of 9.6% and American Eagle saw a meager 4.6% increase in sales. I guess that just goes to show, if you were able to afford the more luxurious and expensive brands before gas became $4 per gallon, you are most likely still finding a way to spend your dime at that level.
