We're still talking about outperformance here, right. They're really outperforming their global peers this year as the market sheds its own investable tag. You see from this chart, basically we have overcome or at least surpass some of the performance that we've seen in when it comes to the all country index, when it comes to the U.S., even when it comes to Japan, we've narrowed the gaps when it comes to outperformance in Korea and Taiwan, for example, as well.But certainly a lot of questions of whether tha ...

Consumer Resilience & Economic Trends - US consumer spending has remained surprisingly resilient, defying expectations of weakening [1][2] - A "K-shaped" economy exists, with high-end consumers benefiting from the stock market (09% R-squared correlation between stock market and luxury sales at Sachs), while lower-end consumers are stretched and focused on value [3] - Overall consumer spending has weathered tariffs and is projected to grow by approximately 4% for the holiday season, similar to October's growth [4] Retail Performance & Strategies - Value and innovation are key for successful companies, with Walmart, TJX, and Ross Stores (off-price retailers) executing well due to tight price points [5][6] - Off-price retailers are gaining market share from department stores, as the high-low department store model faces more stress [7] - Costco and Walmart are winning on multiple dimensions, including value and membership models, attracting both high-end ($100,000+ income) and lower-end consumers [8][9][12] - Walmart is experiencing growth in fashion apparel, taking share from Target, while Costco offers finds that appeal to high-end consumers [10][11]

Former Morgan Stanley Asia chairman Stephen Roach says China must target consumption accounting for half of economic output over the next decade, joining a growing chorus of calls from economists worried about the Asian nation’s outlook https://t.co/qUBOzjlQOL ...