Luxury Sector Expected to Show Improvement Despite War -- Market Talk

Dow Jones03-24

1319 GMT - Luxury sector could show improving trends in China and the U.S., but faces headwinds including the impact of the war in the Middle East, analysts at Bank of America say in a research note. The analysts expect a sequential improvement in the first quarter of 2026 compared with the last three months of last year. Despite this, "the latest unfolding of geopolitical events places more uncertainty on sector growth in the Middle East and Europe for the short term," BofA says. The analysts expect the war to have weighed on local demand in the Persian Gulf and on tourism spend from Middle East consumers in Europe, they say. BofA upgrades Richemont to buy from a neutral rating, as the Swiss company continues to deliver revenue growth well above sector peers. (andrea.figueras@wsj.com)

(END) Dow Jones Newswires

March 24, 2026 09:19 ET (13:19 GMT)

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The analysts expect the war to have weighed on local demand in the Persian Gulf and on tourism spend from Middle East consumers in Europe, they say. BofA upgrades Richemont to buy from a neutral rating, as the Swiss company continues to deliver revenue growth well above sector peers. 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