Executive Summary

• This week’s note “From the Desk of Deborah Weinswig” discusses key takeaways from the 2017 National Association of Chain Drug Stores (NACDS) Annual Meeting in Scottsdale, Arizona.
• Moody’s has forecast a 1% decline in US department store retailers’ sales this year, and a 7%–8% decrease in their operating profits.
• Based on the pace of store closures so far this year, Credit Suisse estimates that retailers will close more than 8,600 locations in 2017, which would eclipse the number of closings during the 2008 recession.
• UK retail sales grew by 3.3% in March, following a 4.7% rise in February, according to the Office for National Statistics. Growth came despite Easter falling in April this year versus March last year.