Executive Summary

• This week’s note “From the Desk of Deborah Weinswig” looks at the struggle for US grocers to grow their online business.
• In the US, Uber’s disappointing initial public offering may be good reason for other tech companies going public this year to be concerned. The ride-hailing company priced its shares at $45 – and ended Friday 7.6% lower at $41.57 per share, a disappointing Wall Street debut.
• UK retail sales grew 4.1% year over year in April, versus last April’s rise of 3.1%, according to the British Retail Consortium (BRC)-KPMG Retail Sales Monitor. Comparable sales increased 3.7% year over year.
• US retailer Victoria’s Secret will open its first flagship store in Chile this autumn. The flagship store will include all its lingerie collections.