New York–Memorial Day made for a shorter week, but still one jam-packed with news thanks to the flurry of earnings reports from retailers. On the luxury side, Tiffany & Co. and Michael Kors, for example, reported that luxury sales are indeed rebounding in Asia-Pacific and even the United States. And though teen retailers, such as Abercrombie & Fitch, are experiencing growing pains, off pricer Ross Stores continues to release strong results.
Earnings report weren’t the only things on retailers’ minds this week. The National Retail Federation and about two dozen retailers issued a strong rebuke of a proposed settlement over swipe fees charge card companies levy.