New York—Well it’s New York Fashion Week a designer’s delight. This time around, there’s one designer who must be ecstatic even though if it isn’t about his latest collection that premieres Feb. 12.
No, Michael Kors is no doubt over-the-top due to his entrance into that exclusive billionaire’s club. With news that his Michael Kors Holdings boasted a 77% jump in profit and a 59% sales increase, the company’s shares rose putting Kors smack dab into billionaire status.
While there was far-from-good news at retail given a disappointing January comp sales report, the National Retail Federation is downright bullish about overall retail sales this year. The nation’s largest retail trade association predicts a 4.1% rise in sales, a stronger forecast than in the last two years.
What else should you know about this week in retail and fashion news? Take a look below at the top 10 online articles of the week: