Conspicuous success of retro cape in story (5)
I believe the answer is:
eclat
'conspicuous success' is the definition.
(eclat means an impressive level of success)
'retro cape in story' is the wordplay.
'retro' is a reversal indicator (retro is Latin for 'backwards').
'cape' becomes 'c' (abbreviation used on maps).
'in' indicates putting letters inside.
'story' becomes 'tale' (synonyms).
'c' going within 'tale' is 'talce'.
'talce' written backwards gives 'ECLAT'.
'of' is the link.
(Other definitions for eclat that I've seen before include "Enthusiastic approval" , "great success" , "Splash" , "Social distinction in France" , "Cleat (anag.)" .)