Executive Summary

May25, 2018

• This week’s note “From the Desk of Deborah Weinswig” discusses recent acquisitions by US retailers in an effort to establish a global presence.
• Despite rising gas prices, Americans ramped up their spending at the start of spring, signaling that modest wage gains and the recent tax overhaul helped buoy spending. Retail sales rose by a seasonally adjusted 0.3% in April from the prior month.
• Warehouse club operator BJ’s Wholesale Club has filed for an IPO to list itself on the New York Stock Exchange, marking its bid to become a public company again.
• House of Fraser may close up to half of its 59 stores in the UK and prompt thousands of job losses if its restructuring plans are approved by its creditors and landlords.