Week in Review: News-to-Know

Accessories have been one of the hot spots in Michael Kors' growing business

This week Michael Kors and Luxottica announced a licensing deal for eyewear

New York—It was a much needed dose of optimism when most of retail seems besieged with lower traffic patterns, slumping comp store sales, rising promotional activity and disappointing earnings forecasts.

Indeed spring seems to finally be here when the U.S. Department of Commerce this week announced March retail sales figures that were the strongest in 18 months. The increases, which were mostly across the board, surprising economists, who had expected to see sales rise due to pent up demand from a bitter winter, but not this much.

Sales Momentum?

Noted Millan Mulraine, deputy chief economist at TD Securities: “This momentum is likely to continue over the next month or two as the warmer weather provides further impetus for spending, which will ensure that personal spending activity continue to provide a key source of support for economic activity.”

Another source of good news for retailers was the announcement by the National Retail Federation that come June a new program will provide retailers with access to information on cybersecurity threats identified by retailers, government and law enforcement agencies and partners in the financial services sector. Developed in consultation with the Financial Services Information Sharing and Analysis Center (FS-ISAC), the program will launch with the establishment of an information-sharing platform for retail industry information security specialists.

The program should go a long way in helping to stem the damage hackers have caused—most notably with Target and Neiman Marcus last fall.

These along with others below make up this week’s top 10 online news articles you don’t want to miss:

Pent Up Demand Gives March Biggest Sales Increase in 18 Months

Mulberry Issues Yet Another Profit Warning, Plans Lower Priced Product

Sycamore Splits Jones Group into Four Independent Companies

Spring, Summer 2015 Trends: Download the Forecast Today

Burberry Reports 19% Jump in Second Half Sales

NPD: Smaller Categories Help Drive 4% Increase in 2013 Women’s Apparel Sales

Michael Kors Inks Eyewear License with Luxottica

H&M Announces Its First U.S. Designer Collaboration: Alexander Wang

NRF Announces Retail Information-Sharing Platform for Cybersecurity

Retailers Urge Expedited Contract Negotiations at West Coast Ports

 

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