The Yuppies Are Back And They’re Shopping

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Don’t look now, but the mass-elite customer is coming back. If three times is a trend, then we definitely have a trend of brands catering to high-end and aspiring consumers reporting impressive numbers.

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On Wednesday, Polo Ralph Lauren reported that third quarter revenues rose 24 percent. Yes, sales in Asia were up. But the firm said “higher domestic and European shipments for our apparel products and increased domestic accessories shipments were the largest contributors to growth” in its wholesale sector. Sales at RalphLauren.com were up 33 percent. And in a move certain to warm the hearts of Muffy and Potter, the company announced a dividend increase and a $250 million stock buyback. It looks like more swells were donning Peccary leather gloves, a bargain at $399 (originally $599), to protect their hands as they drove in their BMWs. BMW this week reported that it sold 18,656 cars in the U.S. in January 2011, up 21 percent from January 2010.