Deutsche Bank: European luxury goods industry faces challenging earnings season

Adam Cochrane of Deutsche Bank said that due to the challenging economic environment, the European luxury goods industry may face a difficult earnings season. Investors had hoped for a strong rebound in sales after several years of slowdown. He added that conflicts in the Middle East have completely shattered these hopes. The analyst said, "Investor sentiment towards this sector remains negative." However, Cochrane still expects that once more positive economic news is reported, the sector's performance will see a significant turnaround.