Retailers Being Affected By Japan's Tragedy

It seems even the fashion industry is being affected after the earthquake and tsunami hit Japan.
Stock has already fallen for Coach, Tiffany and Polo Ralph Lauren with Tiffany falling 4.9% while Coach when down 5.6%.
Turns out Japan consumes about 11% of the world’s luxury goods and that’s going to be a big hit for the major retailers.
In fact, Tiffany has 55 stores in Japan which make up 19% of its revenue, while Coach gets 20% of its total sales from Japan.
An asset manager reveals:

“A more negative for the luxury-goods companies would be if the nuclear accident burdened the general global mood,” Swiss asset manager Sarasin said in a note.

So sad.