Making sense of the past seven days
Reasons to be cheerful seem few and far between at the moment. The business pages have mirrored headlines about bombs and hurricanes with tales of woe from the high street.

But there is still good news to be found in the retail world and it should be made the most of amid the gloom and doom.

Three events spring to mind: the debut of Sony's PSP, the launch of the Everyone's London campaign to re-vitalise the capital's economy and the fast-approaching London Fashion Week.

The PSP's arrival at shops this week epitomised much of what makes retail such an exciting business - a must-have product enabling stores to pull out all the stops and test their mettle against rivals. Game and Dixons opened hundreds of stores at midnight for the launch. Barring any serious supply glitches, the gadget should satisfy retailers and shoppers alike.

Later this month will be the clothing sector's turn for some fun. London Fashion Week kicks off on September 18 and should provide plenty of fodder for the press as the latest looks are showcased. The event is focused primarily on design but, once again, should bring benefits to fashion retailers. Sexiness, frivolity, creativity and fun are what fashion is all about and retailers are at the heart of it.

The event is sure to make Marks & Spencer chief executive Stuart Rose a happy man. As chairman of the British Fashion Council, he has been keen to involve high street retailers more closely in London Fashion Week.

This year, Philip Green's Topshop will become the first high street retailer to show off its own catwalk collection. Arcadia is once again backing the New Generation talent-spotting scheme.

Other retail names getting involved include House of Fraser, Debenhams, Next, New Look, Selfridges, Tesco, Superdrug and M&S. It promises to be a great event that will prompt more cash to flow into the coffers of fashion chains as shoppers search out the latest trends.

Finally, all retailers should welcome Everyone's London. The West End boasts the UK's premier high street and is home to countless flagship stores. However, since 7/7, shoppers have been staying away - especially on Thursdays and at the all-important weekends.

Starting on Sunday with the Regent Street Festival and culminating in October with a similar event on Oxford Street, Everyone's London should help remind consumers what an exhilarating place the capital can be.

Store groups have been intimately involved in developing Everyone's London and have put their money where their mouth is over the longer-term by backing the creation of a business improvement district in the area.

They are doing their bit to ensure London retains its exuberant spirit and, in turn, it is to be hoped they will reap rewards in the form of increased customer traffic and spend.

Although there will no doubt be bad news to come in the next month or two, retailers still have reason to celebrate and everything still to play for.