The American luxury sector has survived the general retail volatility of the past year, posting robust sales as wealthy shoppers continue to devour luxury goods. In July, luxury sales excluding jewelry soared 11.6% year over year, the 10th consecutive month of increases, according to data service MasterCard Advisors SpendingPulse, which estimates total U.S. retail sales. July sales were up 15.6% at Saks Inc., 7.7% at Neiman Marcus Inc. and 6.6% at Nordstrom Inc., outperforming the overall retail industry, Thomson Reuters said.In the US, however, luxury shopping is tied closely to stock market performance. Analysts said rich shoppers could pull back again if their portfolios were affected and if they sense long-term volatility. Read Full : US luxury demand linked to stock market - Fashion - Fashion News - Fashion Jobs, News, Business, apparel industry platform, Fashion New York, Los Angeles, Miami
