Executive Summary

September 21, 2018

• This week’s note “From the Desk of Deborah Weinswig” discusses key points from Alibaba’s recent investor meeting, including the company’s plans to tap the surge in spending from China’s consumption upgrade.
• US retail sales rose by less than forecast in August as purchases of automobiles and clothing fell, suggesting that households took a breather from spending. The value of overall sales climbed 0.1% from the prior month after a 0.7% increase in July.
• British retailer House of Fraser is set to scrap its remaining house brands as it realigns its strategy under new owner Sports Direct.
• Walmart announced that it will acquire Cornershop, an online platform for on-demand delivery from pharmacies and grocery and specialty food retailers in Mexico and Chile.