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Disclosures&DisclaimerThisreportmustbereadwiththedisclosuresandtheanalystcertificationsintheDisclosureappendix,andwiththeDisclaimer,whichformspartofit.Issuerofreport:HSBCBankplcViewHSBCGlobalResearchat:https://www.research.hsbc.comMiFIDII–ResearchIsyouraccessagreed?CONTACTustoday??????ThisreporthighlightsconclusionsfromourForumandthereadthroughtostocks,includingTesco,easyJet,B&MandMerlin?c100attendeeslistenedtodebates,discussionsandQ&Aswithindustryexpertsandseniormanagementonkeyissues?TheimpactofAmazon,discounters,homeshopping,low-costairlines,otherdisruptorsandmorewereallfeaturedFoodRetail:Discussionincludedconsolidationprospects,discounters’potential(growingat5xtherateofgroceryonline),Amazon(theaudiencebelieveditsthreatisunderstated;thepaneldisagreed),whyGroceryHomeDeliveryisprofit-destructiveandwhy