Hard Times Hit Louis Vuitton & Co.

More and more signs are pointing to a softening in the luxury market -- the erosion of high-end retail sales has major shopping meccas reporting a downward sales trend. Now, Louis Vuitton Moet Hennessy, the world's largest luxury goods group, announced that sales slowed considerably over the summer, proving that we're not drinking nearly enough Veuve Clicquot or wearing enough Louis Vuitton. Just weeks after investing in a partnership with luxury yacht company Royal Van Lent, the company released third-quarter earnings that did indicate growth -- but considerably less so than the same time last year. According to the Wall Street Journal, the slowdown has hit all of the group's divisions, including Givenchy, Thomas Pink, Fendi, TAG Huer, and DeBeers. So do the patriotic thing -- next time, make it Veuve.