Aspirational No More

Given the vast array of earnings blow-ups in the retail sector this reporting season, it seems as thigh the aspirational customer, meaning upper-middle class and more or less resorting to purchasing a modified group of luxury brands to sample the "baller" lifestyle, has been trading back down to a more humble line. 

Specifically, the likes of COH KORS have been hit ferociously in recent months, with no bottom in sight, while Macy's seen below, is as resilient as can be even after a one-way trend since the 2009 lows. 

As I noted yesterday, we are seeing similar shifts in the casual dining trends, a slight trade back down, if you will. 

But, of course, in this type of market the massive deals in other sectors, like AVGO for BRCM, can still take place even as some warning signs in the retail space are presenting themselves.