Luxury merchants likely to continue their lead in the recovery

04/12/2011 | Wall Street Journal, The

Luxury retailers including Saks and Neiman Marcus were among the first to recover as wealthier consumers started shopping again, and signs point to them continuing to lead in the recovery. Higher-income consumers suffered more psychological than financial damage during the downturn, experts say, and a strong stock market has provided a powerful boost. "The strength of our business -- luxury -- is typically tied to how our customers feel about their personal financial situations. The financial markets are a good barometer of this," said Saks spokeswoman Julia Bentley.

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