Reported about 23 hours ago
Luxury retail stocks are improving amidst proposed tariffs under President-elect Trump's administration, with expert Jerry Storch estimating that these tariffs may not severely affect the sector. Storch suggests that many luxury goods are 'Veblen goods,' where demand increases with higher prices, potentially benefiting some retailers who have successfully passed on price hikes. However, he cautions that there is significant uncertainty ahead.
Source: YAHOO