Executive Summary

• This week’s note “From the Desk of Deborah Weinswig” looks at 2019 US back-to-school shopping.
• Amazon’s ramped-up spending on speedier delivery for Prime customers accelerated second quarter sales – but also crimped profits. Sales soared 20% in the second quarter, but profits came in below expectations.
• Japanese chat app Line plans to launch an online grocery delivery service in Thailand. Customers use the app to order food and other items to be picked up from sellers and delivered to them.
• Grant Thornton will step down as Sports Direct auditor after the disclosure of a £605 million ($736 million) tax bill in Belgium that delayed its results announcement.