Can meet luxury spending slowdown in Saks

NEW YORK (MarketWatch) - A slowdown in U.S. high-end spending, retailers Tiffany & Co. Inc. has been injured at Macy luxury retailer Saks Inc. could be in the second half of the year also affected, an analyst said Friday. Saks was up 3% to $ 10.56 in trading on the face of the broad market, after he cut behind the neutral by Bank of America-Merrill Lynch analyst Lorraine Hutchinson. So far this year through Thursday, Saks SKS increased from -4.04% to 12%, surpassing the 6.1% increase in the S & P 500 1.65% SPX. He also hit its luxury counterparts. Tiffany TIF 2.58% to 23% over the same period declined. Coach, Inc. COH 3.40%, compared to 9.4%, 2.47% M Macy Inc. rose 2%, and Nordstrom Inc. JWN 3.10% rose slightly by 1.2%. "Revenue growth began to slow down by the luxury and we believe that the recent volatility in equity markets in the short term could create headwinds for the customer Saks'" said the analyst. She lowered in the second half, same-store sales at Saks estimate an increase by 4% compared to a gain of 5%. Other analysts have also brought concerns over high-end editions of expression. Citigroup cut its rating in late June at Nordstrom, Saks, Macy. See the article on high-end retailers from worry overshadowed by expenditures. The volatility in equity markets as a result of the uncertainty in the global economy is the "biggest threat" to the sales Saks, "said Hutchinson, by the business of the company sales have shown a correlation displayed by 76% on the S & P 500 performance since 2003 . Saks sales also had a 78% correlation with those of Tiffany's flagship New York, where sales have been negative, and by 4% in the first quarter. It "adds an element of risk", the flagship Saks in New York, over 20% of the total turnover of the company, she said. "This is a relevant indicator that we remain at Tiffany's flagship NYC (comparable sales) under pressure for the remainder of 2012 expected." Macy upscale Bloomingdale chain has seen sales begin to slow in May, while has Neiman Marcus saw sales slow toward the end of the first quarter, the analyst said, adding, Neiman Marcus, said the small travel European Council at its Bergdorf Goodman store in New York City. A sign of caution can also see luxury labels. Burberry Group plc United Kingdom: 6.13% BRBY, a provider of Saks and society in the United Kingdom's largest luxury reported a second consecutive quarter of disappointing sales earlier this week. Are designed as an early sign that sales may be slower to Saks, the retailer's price sale on designer clothes women to the needs of businesses failed, she said. "The sale of Saks have surprisingly well made, despite a slowdown in tourism spending and Wall Street, but we expect that this trend will become more difficult to maintain in the second half of the year," she said. Saks also has the greatest credit should, luxury spending in the U.S. because of its slow internal concentration, the analyst said. In comparison, Tiffany, about half of its sales abroad, while coach has about 30% of the total international level. Saks operates 45 Saks Fifth Avenue stores and 63 Off 5th discount stores in the U.S. there are several places allowed abroad from Dubai to Mexico. Andria Cheng is a MarketWatch reporter in New York.