A few weeks ago economists were convinced that key global markets would be skirting the edges if not actually into a recession.  However January reports showing an easing of inflation and better-than-expected retail sales of apparel has given the industry hope that 2023 might beat forecasts.  

The continued announcements of new store openings and overall retail expansion is a good signal.

Optimism aside, more companies are preferring to play it safe after witnessing how fast markets seem to change these days.