Saks CEO Marc Metrick joins Yahoo Finance Live to discuss how the current inflationary environment has affected sales and the overall luxury industry.
Inflation is taking its toll on Americans. Consumer sentiment falling to a record low in June. And that was before today’s very hot inflation print. But it’s not all bad news. There’s a new survey that shows that the luxury sector is a bright spot. Joining us now, Marc Metrick. He’s CEO of Saks. And Marc, it’s great to see you. I know the luxury survey that you just put out paints the consumer in a pretty strong light here, just in terms of the fact that they are still willing to spend. We have, however, seen inflation creep steadily higher. We’re at a new 40-year high. Any worry that we’re going to start seeing that high-end consumer pull back on their spending? See more at Yahoo!Finance.