FOR THE APPROACHING RETAIL SEASON, the general feeling is that prospects are somewhat brighter than they were a year ago. Although unemployment is still a main concern, economic indicators in the U.S. rose in August for the fifth consecutive month. The August results support projections by many analysts that economic growth resumed in the latest quarter and will continue in the October-December quarter. According to Federal Reserve chairman Ben S. Bernanke, the recession is "very likely over." The healthy upturn in the financial markets and indications that bankers, stockbrokers and other executives will again receive six- and seven-figure yearend bonuses also augurs well for luxury goods retailers.

The prevailing view is that sales of fashion and better furs are likely to fare relatively better than commercial products. Also, that hats and other fur accessories may see increased demand as budget-conscious consumers try to stretch what disposable income they still have.