, Columnist
China Spells Misery for Luxury
LVMH looks a safer haven from dwindling spending in Europe
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In a miserable week for the world's biggest makers of luxury goods, the last thing they will want to do is reach for the champagne.
Over the past seven days, Prada posted its lowest profit in five years, while Burberry reported weaker-than-expected sales in the fourth quarter, and warned full-year profit would be at the low end of analyst estimates.