. >> reporter: on a conference call, bernard arno, ceo of luxury conglomerate acknowledged the economic slowdown in china but also said, quote, many observers underestimate the fundaments of china's economy noting household consumption is on the rise there. like other retailers, the luxury goods seller looks to the country as a long-term growth driver. pvh corp will buy the remaining interest in the tommy hilfiger in china. china is the fastest growing market for calvin klein and tommy hilfiger. michael kors and coach reported double digit comparable sales growth in china while noting weakness in hong kong and macau. retail experts with an eye on china say the higher end consumer's pension to spend may be leveling off as evidenced by weakness in travel to hong kong and macau but spending in mainland china remains healthy which is where retailers are concentrating investments in the country. >> we've been seeing somewhat of a global pause in chinese traveling so that's something we watch out for at names like tiffany and higher end names. >> reporter: but mid-tier retailer h&m says it's,