PARIS: Early holiday shopping season discounts from high-end fashion retailers like Bergdorf Goodman on New York’s Fifth Avenue raised concern that a lacklustre Christmas could lead to inventory gluts – potentially dragging labels into a discounting spiral that would cheapen their image. The latest US credit card data from Barclays released on Wednesday showed that spending on luxury goods remained negative in November, down 15% year-on-year after a decline of 14% in October. That performance “doesn’t bring much optimism” for the fourth quarter, with the weak trends in the United States reason for caution about the performance of luxury brands over the period, Barclays analysts said.Credit card data from Citi, also released on Wednesday, showed purchases of luxury fashion were…
