By Mimosa Spencer and Elisa Anzolin PARIS/MILAN (Reuters) - Luxury retailers in European cities outside France are jockeying for business from deep pocketed tourists this summer, betting on a surge in visitors avoiding crowds and street closures in.
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Retail sales rose 9.8% in March, according to the Commerce Department, as consumers wasted no time spending their $1,400 stimulus checks. Their balance sheet is in excellent, outstanding shape – coiled, ready to go and they re starting to spend money, JPMorgan Chase CEO
As shoppers spend again, they are directing money toward some of the same kinds of purchases and some different ones, too. Sporting goods stores had the largest gain in March, jumping 23.5% from the month before and proving that outdoor and exercise gear remains popular. On the other hand, clothing stores saw sales rise by 18.3% a change that shows people may be refreshing their wardrobe and going out again.