Kurt Salmon Expects Luxury Spending to Cool This Summer

SAN FRANCISCO, June 29, 2011 /PRNewswire/ -- Luxury sales are projected to decrease in July, according to Kurt Salmon's Luxury Spending Trajectory.

(Photo:  http://photos.prnewswire.com/prnh/20110629/NY27843 )

Intent to spend started heating up in January and climbed steadily until now. For the first time in six months, the nation's highest-earning consumers say they are ready to cool down their spending.

"High-end consumer enthusiasm was visible in May, and this is reflected in positive same-store sales growth figures. Saks, with comps at their highest level since November 2007, led the pack," said Greg Ellis, a Kurt Salmon retail and luxury strategist. "But the luxury consumer's confidence tumbled and layoff concerns increased in June, both of which may dampen spending in July."

SOURCE Kurt Salmon

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