Here’s Why Luxury Retailer Stocks are on Fire

Neiman Marcus tells analysts “the most affluent luxury customer is spending with confidence” after the retailer’s net income nearly doubled from a year ago. CEO Karen Katz reports that wealthy customers are snapping up jewelry and other expensive items, including quick sales of “fantasy gifts” such a $250K speedboat and a $395K Ferrari.

The news has been a lift for luxury retailers (NYSEARCA:XRT). Here’s how some of the most popular stocks are trading:

Tiffany & Co. (NYSE:TIF): TIF shares recently traded at $67.35, down $6.27, or 8.52%. They have traded in a 52-week range of $54.58 to $84.49. Volume today was 8,378,785 shares versus a 3-month average volume of 2,391,560 shares. The company’s trailing P/E is 21.33, while trailing earnings are $3.16 per share.

Coach Inc. (NYSE:COH): COH shares recently traded at $60.35, down $1.78, or 2.86%. They have traded in a 52-week range of $45.70 to $69.20. Volume today was 4,151,502 shares versus a 3-month average volume of 3,397,000 shares. The company’s trailing P/E is 19.98, while trailing earnings are $3.02 per share.

Saks Incorporated (NYSE:SKS): SKS shares recently traded at $8.58, down $0.33, or 3.7%. They have traded in a 52-week range of $7.67 to $12.97. Volume today was 2,569,148 shares versus a 3-month average volume of 3,338,600 shares. The company’s trailing P/E is 21.34, while trailing earnings are $0.40 per share.

General Electric Co. (NYSE:GE): GE shares recently traded at $14.93, up $0.13, or 0.88%. They have traded in a 52-week range of $14.02 to $21.65. Volume today was 60,567,103 shares versus a 3-month average volume of 69,489,700 shares. The company’s trailing P/E is 11.42, while trailing earnings are $1.31 per share.

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