Tiffany says early holiday sales were better than expected but Goldman Sachs' retail analyst is taking a cautious view. "We do expect continued pressures on production costs,” Adrianne Shapira told CNBC’s Power Lunch, Shapira was picking up on the jeweler's statement that higher materials costs had taken a bite out of otherwise strong third-quarter earnings
From diamond-encrusted world phones to luxury vacations, the high-end shopper is expected to keep upscale merchants happy this holiday season. With aggressive markdowns at better retailers such as Saks, coupled with a greater selection of unique and one-of-a-kind merchandise from luxury designers and boutiques, high-net worth individuals are expected to spend -- and spend more this season.
Fine jeweler Tiffany is seeing green, thanks to strong early holiday sales. Riding the luxury market wave and benefiting from high-end consumer strength, Tiffany is seeing “a lot of demand amongst the affluent consumer and a willingness to shop,” Dorothy Lakner, retail analyst at CIBC World Markets, told CNBC’s “Morning Call”.
Family owned and operated cosmetic behemoth Estee Lauder has struck gold overseas. William Lauder, Estee Lauder’s President & CEO, told CNBC’s Margaret Brennan that the weak U.S. dollar and steady consumer confidence is keeping the company in the “black” this holiday season.