LUXURY - > Hong Kong Retail Sales VERY POOR earlier this a.m.... HK Jan Retail Sales by Value -14.6% YoY vs est -6.1% within that Jewellery, Watches & Clocks -22.5% a big deterioration from Dec -16.1%, Nov +1.4% and Oct -11%... MACAU gaming revs also very weak again for Feb KERING been struggling with new highs even on a weaker euro lately and MKT NO LONGER SHORT the name - see attached.
Add LUXOTTICA had what we thought were decent numbers this a.m....shares now reversed significantly from the open..
NOTE
NOTE
1) Currency tailwind lower @ KER FP
2) Gucci still flatlining
3) Pinault recently stated that it 'will not dispose of PUMA, full stop'. The space been all about “PRICE x VOLUME" is comes apart this year as US interest rates rise... SELL
