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Consumer Biz Roundup: Luxury Sales UP In China, Proctor & Gamble’s New Strategy

Mark Lawson

Auto sales might be down at the moment in China, but a new report on luxury sales there could lend a large note of optimism to investors in stocks such as Estee Lauder Companies Inc. (EL), Coach, Inc. (COH), Tiffany & Co. (TIF), and Nike Inc. (NKE). The retail analyst Rahul Sharma says that big ticket item sales in August gained from furniture to jewelery (or at least held steady).

Don’t Miss: Proctor & Gamble’s Research Woes Take a Toll on Profits.

Procter & Gamble Co. (PG) executives say that their company intends to concentrate upon the reformulation of its current stable of consumer products, rather than developing new products, which is a conservative stance that worries some Wall Street analysts with the possibility of pioneering another blockbuster brand reduced.

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