Luxury brands are struggling in the US due to a variety of factors including the dominance of e-commerce over brick and mortar. Despite efforts to improve productivity and building brand recognition , still store closings continue and high-end brand stocks remain beaten down.

Apparel, home, accessories and fragrances company Ralph Lauren has seen its shares decline 15.8 per cent in the recent one-month period after posting mixed quarterly earnings in May. Revenue fell short of expectations. Same store sales sank 12 per cent year-on-year.

High-end fashion company Michael Kors’ current quarter guidance was below expectations. While fiscal fourth quarter results surpassed estimates, the stock is down 5.7 per cent after recovering slightly from the initial sell-off.

Shares of the fashion brand Burberry hit a three-month low in April on weaker-than-expected second-half sales growth, dragged down by weakness in North America. But the firm had stronger-than-expected full-year earnings. In mid-May, the British maker of luxury apparel and accessories announced more cost cuts and share buybacks in its preliminary 2016-17 report as it completed its transition year amid a fast changing luxury market. Revenue down two per cent was boosted by a three per cent gain in retail, while adjusted profit before tax fell 21 per cent. The firm plans to double down on building its brand strength and its digital presence.