Executive Summary

• This week, members of the FBIC US team attended the Kroger and Ascena Investor Days and spoke at the Decoded Fashion New York Summit
• Walgreens Boots Alliance announced an agreement to acquire Rite Aid, which would bring together the #1 and #3 retail pharmacy companies creating a pharmacy giant with over 13,000 stores
• Lord & Taylor said it plans to open its first off-price store, called Find @ Lord & Taylor. The new Find concept is designed to appeal to a younger, millennial audience at a lower price point
• Online artisan marketplace Etsy launched its delivery service, Etsy ASAP, which will service select parts of Manhattan, Brooklyn and Queens for a flat fee of $20 with same-day or next-day delivery