Week in Review: Top News to Remember

Karen Kane hats and jewelry

Fashion designer Karen Kane is expanding her eponymous apparel brand with two accessories classifications: hats and fashion jewelry,

New York—Retail earnings week, feel the chill or the thrill of it.

While there are many more retailers to release their earnings, many of the majors so far disappointed.

Macy’s Inc., usually a perennial bellwether, got a cool reception from Wall Street by cuttings its full-year growth forecast from 2.5% to 3% to a lower range of 1.5% to 2%. The department store said that the lowered rate was due to the fact it lost sales in the first quarter due to severe winter storms.

Real or Fluke?

Another retailer sending chills through the retail industry was the biggest of them all, Walmart. The mega retailer cited increased investment in its online business and higher employee health-care costs as reasons for cutting full-year earnings forecasts from continuing operations to $4.90 to $5.15 a share from $5.10 to $5.45.

Given the fact two of the largest retailers have downgraded their forecasts means other retailers will be scrutinized for any downturn especially as we head into toward the fourth quarter.

Is the increased momentum reported by the Commerce Department in April just a fluke or a real indication that the retail industry is well on the way to recovery following the Great Recession? That’s the question that will be on the minds of store executives, analysts and economists as earning season barrels ahead.

To see what else barreled ahead this week, check out this week’s top 10 online new articles:

1. Macy’s Lowers Full Year Forecast Due to Effects of Winter

2. Barneys Agrees to Pay $525K in Racial Profiling Settlement

3. Commerce Dept: July Sales Flatten Unexpectedly

4. Walmart Cuts Full Year Forecast as Costs Hit Profit

5. JCPenney Narrows Loss, Beats Expectations

6. Tech Talk: eBags “Love It or Leave It” Swipe Algorithm Drives Conversion Rates

7. Kate Spade Q2 Loss Narrows as Sales Jump

8. Karen Kane Launches Hats, Jewelry

9. Pandora’s Shares Rise After Strong Q2 Report, Disney Deal

10. Nordstrom Launches Give-Back Brand Treasure&Bond

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