External forces don’t help categories equally. Yesterday I wrote about rising fuel prices accelerating EV adoption. The exact same trigger is yielding a totally different outcome somewhere else. Luxury sales in Dubai and Abu Dhabi have dropped sharply because of the Iran conflict. According to recent reporting, malls are seeing declines of 30 to 50 percent, with foot traffic way down in key retail hubs. This attack was trumpeted to be a growth engine. And the Gulf had become one of the most...