Luxury retail remained resilient during China ‘s five-day Labor Day holiday — bucking a broader trend of cautious consumer spending — according to foot traffic data gathered by Bernstein across 10 high-end malls in four major cities. Even though overall traffic dipped 5 percent below Chinese New Year levels in mid-February, Bernstein highlighted strong performance at LVMH Moët Hennessy Louis Vuitton brands, Chanel and an acceleration at Compagnie Financière Richemont’s hard luxury brands based on holiday foot traffic at 10 luxury malls, including K11 and Harbour City in Hong Kong, IFC and Plaza 66 in Shanghai, Guomao, SKP and SKP-S in Beijing, and Taikoo Li, IFS and SKP in Chengdu. The report noted the proprietary data may only reflect one component of retail store productivity, as metrics such as conversion rate and spending by luxury VICs were not captured by the numbers observed on the ground.…