Latest / Omni Talk Retail / Walmart Opens A New HQ And Does Fendi, Chanel And Robots All In The Same Week! | Fast Five

Transcript

Walmart Opens A New HQ And Does Fendi, Chanel And Robots All In The Same Week! | Fast Five · Omni Talk Retail

0:04
The
0:04
OmniTalk
0:04
Fast5
0:05
is
0:05
brought
0:05
to
0:05
you
0:06
with
0:06
support
0:06
from
0:06
the
0:06
A
0:07
and
0:07
M
0:07
Consumer
0:07
and
0:08
Retail
0:08
Group.
0:08
The
0:08
A
0:09
and
0:09
M
0:09
Consumer
0:09
and
0:09
Retail
0:10
Group
0:10
is
0:10
a
0:10
management
0:10
consulting
0:11
firm
0:11
that
0:11
tackles
0:12
the
0:12
most
0:12
complex
0:13
challenges
0:13
and
0:14
advances
0:14
its
0:14
clients,
0:15
people
0:15
and
0:15
communities
0:16
toward
0:16
their
0:16
maximum
0:17
potential.
0:17
CRG
0:18
brings
0:18
the
0:18
experience,
0:19
tools
0:19
and
0:19
operator
0:20
like
0:20
pragmatism
0:21
to
0:21
help
0:21
retailers
0:21
and
0:22
consumer
0:22
products
0:22
companies
0:23
be
0:23
on
0:23
the
0:24
right
0:24
side
0:24
of
0:24
disruption
0:25
and
0:25
Miracle.
0:26
Miracle
0:26
is
0:27
the
0:27
global
0:27
leader
0:27
in
0:27
platform
0:28
business
0:28
innovation
0:29
for
0:29
E
0:29
commerce.
0:30
Companies
0:30
like
0:30
Macy's,
0:31
Nordstrom
0:31
and
0:31
Kroger
0:32
use
0:32
Miracle
0:32
to
0:33
build
0:33
disruptive
0:33
growth
0:34
and
0:34
profitability
0:35
through
0:35
marketplace,
0:36
dropship
0:36
and
0:36
retail
0:37
media.
0:37
For
0:38
more,
0:38
visit
0:38
mirakl.com
0:39
that's
0:40
M
0:40
I
0:40
R
0:40
A
0:40
K
0:41
L.com
0:42
and
0:42
Symbi
0:43
Symbi
0:43
powers
0:43
the
0:44
most
0:44
retail
0:44
banners
0:45
in
0:45
the
0:45
world
0:46
with
0:46
today's
0:46
only
0:47
multimodal
0:48
platform
0:48
for
0:48
in
0:48
store
0:49
intelligence.
0:50
See
0:50
how
0:50
Albertsons,
0:51
BJ's
0:51
Spartan
0:52
Nash
0:52
and
0:52
Wakefern
0:52
win
0:53
with
0:53
AI
0:53
and
0:54
automation
0:54
at
0:55
simbirobotics.com
0:57
and
0:57
Ocampo
0:58
Capital.
0:58
Ocampo
0:59
Capital
0:59
is
0:59
a
0:59
venture
1:00
capital
1:00
firm
1:00
founded
1:01
by
1:01
retail
1:01
executive
1:01
executives
1:02
with
1:02
the
1:02
aim
1:03
of
1:03
helping
1:03
early
1:03
stage
1:04
consumer
1:04
businesses
1:05
succeed
1:05
through
1:05
investment
1:06
and
1:06
operational
1:07
support.
1:07
Learn
1:08
more@ocampo
1:09
capital.com
1:10
and
1:10
finally,
1:11
Scratch
1:11
Event
1:12
DJs
1:12
Scratch
1:13
Event
1:13
DJs
1:13
tap
1:14
into
1:14
their
1:15
unrivaled
1:15
network
1:16
of
1:16
top
1:16
local
1:17
DJs
1:17
to
1:17
provide
1:18
brands
1:18
with
1:18
high
1:19
quality
1:19
curated
1:20
in
1:20
store
1:20
experiences
1:21
anytime,
1:22
anywhere.
1:23
Find
1:23
out
1:24
more@events.scratch.com
1:26
hello,
1:27
you
1:27
are
1:27
listening
1:28
to
1:28
Omnitalk's
1:29
Retail
1:29
Fast
1:29
Five,
1:30
ranked
1:30
in
1:30
the
1:30
top
1:30
10%
1:31
of
1:31
all
1:31
podcasts
1:32
globally
1:32
and
1:32
currently
1:33
the
1:33
only
1:34
retail
1:34
podcast
1:34
ranked
1:35
in
1:35
the
1:35
top
1:35
100
1:36
of
1:36
all
1:36
business
1:37
podcasts
1:37
on
1:37
Apple
1:38
Podcasts.
1:38
The
1:38
Retail
1:39
Fast
1:39
Five
1:39
is
1:40
the
1:40
podcast
1:40
that
1:40
we
1:40
hope
1:40
makes
1:41
you
1:41
feel
1:41
a
1:42
little
1:42
smarter,
1:42
but
1:42
most
1:43
importantly,
1:43
a
1:43
little
1:43
happier
1:44
each
1:44
week
1:44
too.
1:45
And
1:45
the
1:45
Fast
1:45
5
1:45
is
1:46
just
1:46
one
1:46
of
1:46
the
1:46
many
1:46
great
1:47
podcasts
1:47
you
1:47
can
1:48
find
1:48
from
1:49
Omnitalk
1:49
Retail's
1:50
Podcast
1:50
Network
1:51
alongside
1:51
our
1:51
Retail
1:52
Daily
1:52
Minute,
1:52
which
1:52
brings
1:53
you
1:53
a
1:53
curated
1:53
selection
1:54
of
1:54
the
1:54
most
1:54
important
1:55
retail
1:55
headlines
1:56
every
1:56
morning
1:56
and
1:57
our
1:57
Retail
1:57
Technology
1:58
Spotlight
1:58
series
1:58
which
1:59
goes
1:59
deep
1:59
each
2:00
week
2:00
on
2:00
the
2:00
latest
2:00
retail
2:01
technology
2:01
Trends.
2:02
It
2:02
is
2:03
January
2:03
22,
2:04
2025.
2:05
I'm
2:05
one
2:05
of
2:05
your
2:06
hosts,
2:06
Ann
2:06
Mazinga.
2:07
And
2:07
I'm
2:08
one
2:08
of
2:08
your
2:08
other
2:08
hosts,
2:08
Chris
2:09
Walton.
2:09
And
2:10
we
2:10
are
2:10
here
2:11
once
2:11
again
2:12
to
2:12
discuss
2:13
all
2:13
the
2:13
top
2:13
headlines
2:14
from
2:14
the
2:14
past
2:14
week
2:15
making
2:15
waves
2:16
in
2:16
the
2:16
world
2:16
of
2:16
omnichannel
2:17
retailing.
2:17
And
2:18
joining
2:18
us
2:18
today
2:19
for
2:19
their
2:19
first
2:20
appearance
2:20
of
2:20
2025,
2:21
we
2:22
have
2:22
Kelly
2:22
Carey
2:23
and
2:23
John
2:23
Clear
2:24
of
2:24
the
2:24
Alvarez
2:25
and
2:25
Marcel
2:25
Consumer
2:26
and
2:26
Retail
2:26
Group.
2:27
Kelly
2:28
John,
2:29
this
2:29
is
2:29
your
2:29
this
2:30
is
2:30
your
2:30
second
2:31
duo
2:32
like
2:33
appearance
2:33
on
2:34
the
2:34
Omnitok
2:35
Retail
2:35
Fast
2:35
5.
2:36
We're
2:36
excited
2:36
to
2:36
have
2:36
you,
2:37
Kelly.
2:38
I'd
2:38
love
2:38
for
2:39
you
2:39
to
2:40
start
2:40
with
2:40
a
2:40
little
2:41
bit
2:41
of
2:41
your
2:41
background
2:43
and
2:43
your
2:43
current
2:43
role
2:43
at
2:44
am.
2:45
Great,
2:45
thanks,
2:46
Anne.
2:46
Hi
2:47
everyone.
2:47
I'm
2:47
Kelly
2:48
Carey.
2:48
I
2:49
am
2:49
a
2:49
director
2:49
with
2:50
the
2:50
Alvarez
2:50
and
2:50
Marcel
2:51
consumer
2:51
and
2:52
Retail
2:52
Group.
2:53
I've
2:53
been
2:53
with
2:53
the
2:53
group
2:54
for
2:54
going
2:55
on
2:55
six
2:55
years
2:56
now,
2:56
which
2:56
is
2:56
crazy
2:57
to
2:57
say,
2:58
really
2:59
focusing
2:59
on
3:00
our
3:00
beauty
3:01
and
3:01
apparel
3:01
clients
3:02
within
3:02
the
3:02
team.
3:03
So
3:03
I've
3:04
spent
3:04
time
3:04
both
3:05
in
3:05
consulting
3:05
and
3:06
in
3:06
industry
3:07
working
3:07
with
3:09
multibillion
3:10
dollar
3:10
beauty
3:11
companies
3:11
and
3:11
I'm
3:11
excited
3:12
to
3:12
talk
3:13
about
3:13
some
3:13
fun
3:14
headlines
3:14
in
3:14
that
3:14
space
3:15
today.
3:16
Oh
3:16
yes,
3:17
we've
3:17
got
3:17
some
3:17
for
3:18
you,
3:18
Kelly.
3:18
We
3:19
have
3:19
some
3:19
for
3:19
you.
3:19
I
3:20
cannot
3:20
wait
3:20
to
3:20
hear
3:20
your
3:20
thoughts.
3:21
John,
3:22
let's
3:23
have
3:24
you
3:24
give
3:24
the
3:24
audience
3:25
a
3:25
little
3:25
bit
3:25
of
3:25
your
3:25
background
3:26
and
3:26
your
3:26
current
3:27
role
3:27
at
3:27
A
3:27
and
3:27
M.
3:28
Sure.
3:28
Thanks
3:29
for
3:29
inviting
3:29
me
3:29
back.
3:30
I
3:30
wasn't
3:30
sure
3:31
it
3:31
was
3:31
definitely
3:31
going
3:31
to
3:31
happen
3:31
after
3:33
as
3:33
the
3:33
Irish
3:34
change
3:34
out.
3:34
It
3:34
was
3:34
touch
3:35
and
3:35
go.
3:36
I
3:36
can
3:36
imagine.
3:36
I
3:36
can
3:37
imagine.
3:37
So
3:38
yeah,
3:38
My
3:39
name
3:39
is
3:39
John
3:39
Clear.
3:39
I've
3:40
been
3:40
with
3:41
the
3:41
A
3:41
M
3:41
consumer
3:42
and
3:42
retail
3:42
group
3:42
for
3:43
three
3:43
years.
3:44
Actually
3:44
next
3:44
month
3:45
I'm
3:46
a
3:46
senior
3:46
director
3:46
here
3:47
in
3:47
the
3:47
team
3:47
and
3:47
so
3:48
I
3:48
work
3:48
a
3:48
little
3:48
bit
3:48
on
3:48
the
3:49
other
3:49
side
3:49
of
3:49
the
3:50
retail
3:50
equation
3:50
than
3:51
Kelly.
3:51
So
3:51
my,
3:52
my
3:52
focus
3:52
is
3:53
really
3:53
on
3:53
grocery
3:54
or
3:54
food
3:54
retail,
3:55
so
3:56
grocery,
3:56
mass,
3:56
drug,
3:57
convenience.
3:58
Prior
3:58
to
3:58
joining
3:59
A
3:59
and
3:59
m,
3:59
I
3:59
spen
3:59
10
4:00
years
4:00
working
4:00
in
4:00
the
4:00
grocery
4:01
industry
4:01
as
4:02
a,
4:02
primarily
4:03
as
4:03
a
4:03
merchant
4:04
with
4:04
a
4:04
company
4:04
called
4:04
Lidl.
4:06
So
4:06
I
4:06
really
4:07
kind
4:07
of
4:07
bring
4:07
the,
4:07
the
4:08
industry
4:08
background
4:09
to
4:09
what
4:09
CRG
4:10
do
4:10
and
4:10
hopefully
4:10
a
4:10
little
4:10
bit
4:11
of
4:11
that
4:11
industry
4:11
operator
4:12
expertise
4:12
to
4:12
give
4:13
a
4:13
bit
4:13
more
4:13
nuance
4:13
when
4:14
we're
4:14
engaging
4:14
with
4:14
the
4:14
teams
4:15
as
4:15
we
4:15
go
4:15
through
4:15
our
4:15
processes.
4:17
And
4:17
I
4:17
love
4:18
how
4:18
he
4:18
said
4:18
that
4:18
just
4:18
a
4:18
company
4:19
called
4:19
Lidl,
4:19
which
4:19
I
4:20
think
4:20
we
4:20
learned
4:20
at
4:20
nrf,
4:20
is
4:21
like
4:21
the
4:21
fourth
4:21
largest
4:22
retailer
4:22
in
4:22
the
4:22
world
4:22
or
4:23
the
4:23
fourth
4:23
largest
4:23
conglomerate
4:24
in
4:24
the
4:24
world.
4:24
The
4:24
retail
4:25
conglomerate
4:25
in
4:25
the
4:25
world.
4:26
So
4:26
yes,
4:26
John,
4:27
it's
4:27
great
4:27
to
4:27
have
4:27
you.
4:28
Every
4:28
time.
4:28
John,
4:29
you're
4:29
my
4:29
go
4:29
to
4:29
for
4:29
grocery
4:30
insight.
4:30
Whenever
4:31
I
4:31
don't
4:31
know
4:31
anything,
4:31
I'm
4:31
always
4:32
like
4:32
okay,
4:32
what
4:32
does
4:32
John
4:33
think
4:33
about
4:33
this?
4:34
So
4:34
it's
4:34
great
4:34
to
4:34
have
4:34
you
4:34
back.
4:34
That
4:35
is
4:35
a
4:35
risky
4:35
strategy,
4:36
Chris,
4:36
but.
4:38
You'Re
4:38
telling
4:38
me
4:40
it's
4:40
worked
4:40
so
4:40
far?
4:41
It's
4:41
worked
4:41
so
4:41
far.
4:42
So
4:42
we'll
4:42
keep
4:42
rolling
4:42
with
4:43
it
4:43
until
4:43
it
4:43
does
4:44
us
4:44
wrong,
4:44
John,
4:45
we'll
4:45
keep
4:45
going.
4:47
All
4:47
right,
4:48
well
4:48
let's,
4:48
let's
4:49
jump
4:49
to
4:49
the
4:49
headlines.
4:50
Let's
4:50
get
4:50
to
4:50
it.
4:51
All
4:51
right.
4:52
And
4:52
well,
4:52
I'm
4:52
excited
4:53
because
4:53
the
4:54
wait
4:54
is
4:54
almost
4:54
over.
4:55
Manifest
4:56
is
4:56
just
4:56
weeks
4:57
away.
4:57
Don't
4:57
miss
4:57
your
4:58
chance
4:58
to
4:58
learn
4:58
from
4:59
and
4:59
connect
4:59
with
5:00
top
5:00
minds
5:01
transforming
5:01
the
5:01
future
5:02
of
5:02
supply
5:02
chain
5:02
and
5:02
logistics.
5:03
And
5:03
also
5:04
if
5:04
you're
5:04
interested
5:04
with
5:05
Ann
5:05
and
5:05
myself
5:05
too,
5:06
we'll
5:06
be
5:06
there.
5:06
You
5:06
know
5:06
you
5:07
can,
5:07
you
5:07
can
5:07
meet
5:07
us
5:07
too.
5:08
It
5:08
might
5:08
be
5:08
a
5:08
draw.
5:08
It
5:08
might
5:08
be
5:08
a
5:09
draw
5:09
for
5:09
some
5:09
of
5:09
you
5:09
folks.
5:10
Secure
5:10
your
5:11
spot
5:11
among
5:11
the
5:11
best
5:12
of
5:12
the
5:12
best
5:12
and
5:12
register
5:13
before
5:13
prices
5:13
increase
5:14
on
5:15
Friday.
5:15
So
5:15
two
5:16
days
5:16
January
5:16
24th
5:17
and
5:17
you
5:18
can
5:18
still
5:18
save
5:18
$600
5:19
off
5:20
the
5:20
regular
5:20
retail
5:21
conference
5:22
price.
5:22
You
5:22
can
5:22
register
5:23
now
5:23
by
5:23
going
5:24
to
5:24
manifest.
5:25
Vegas.com
5:27
save
5:28
with
5:29
omnitalk.
5:30
That's/save
5:31
with
5:32
Omnitok.
5:32
All
5:32
right,
5:33
in
5:33
this
5:33
week's
5:33
Fast5,
5:34
we've
5:34
got
5:34
news
5:35
on
5:35
Target
5:36
cutting
5:36
its
5:36
go
5:36
to
5:37
market
5:37
timeframe
5:37
from
5:38
seven
5:38
months
5:38
to
5:39
eight
5:39
weeks.
5:39
Burlington's
5:40
new
5:41
small
5:41
store
5:41
growth
5:42
plans.
5:43
Sephora's
5:44
massive
5:44
store
5:45
redesign
5:46
of
5:46
its
5:46
entire
5:47
fleet.
5:48
Walmart's
5:49
partnership
5:50
with
5:50
Rebag
5:51
to
5:51
sell
5:51
the
5:52
likes
5:52
of
5:52
Fendi,
5:53
Chanel
5:54
and
5:54
many,
5:54
many
5:55
more
5:55
high
5:55
end
5:55
luxury
5:56
brands.
5:57
But
5:57
we
5:57
begin
5:57
today
5:58
with
5:58
other
5:59
exciting
6:00
news
6:00
in
6:00
the
6:00
world
6:01
of
6:01
robotics.
6:02
Ann?
6:03
Yes,
6:03
big
6:04
news.
6:04
Chris
6:05
and
6:05
team
6:06
Symbotic
6:07
has
6:07
struck
6:08
a
6:08
deal
6:08
to
6:08
expand
6:09
its
6:09
partnership
6:09
with
6:09
Walmart.
6:10
According
6:10
to
6:10
the
6:10
Wall
6:11
Street
6:11
Journal,
6:11
Symbotic
6:12
will
6:12
take
6:12
on
6:13
a
6:13
$520
6:14
million
6:15
program
6:15
to
6:15
develop
6:15
an
6:16
automated
6:16
delivery
6:17
platform
6:17
for
6:17
Walmart
6:18
stores
6:18
while
6:19
also
6:19
agreeing
6:20
to
6:20
buy
6:20
the
6:20
retail
6:21
giant's
6:21
advanced
6:22
systems
6:22
and
6:22
robotics
6:23
business.
6:24
Walmart
6:24
will
6:25
fund
6:25
a
6:25
development
6:25
program
6:26
that
6:26
aims
6:26
to
6:27
leverage
6:27
Symbotics
6:28
artificial
6:28
intelligence
6:29
enabled
6:29
robotics
6:30
platform
6:30
and
6:30
will
6:31
seek
6:31
to
6:31
enhance
6:32
Walmart's
6:32
current
6:32
online
6:33
pickup
6:33
and
6:33
delivery
6:34
fulfillment
6:34
systems
6:35
and
6:35
design
6:36
new
6:36
systems.
6:37
Symbotics
6:38
said
6:38
that
6:38
if
6:38
performance
6:39
criteria
6:39
are
6:40
met,
6:40
Walmart
6:40
is
6:41
committed
6:41
to
6:41
buying
6:41
and
6:41
deploying
6:42
systems
6:42
for
6:43
400
6:44
accelerated
6:44
pickup
6:45
and
6:45
delivery
6:45
centers
6:45
at
6:46
stores
6:46
over
6:46
a
6:47
multi
6:47
year
6:47
period.
6:48
John,
6:48
you're
6:49
Mr.
6:49
Grocery
6:50
here.
6:50
We're
6:51
going
6:51
to
6:51
you
6:51
first.
6:52
Why
6:52
would
6:52
Walmart
6:53
ink
6:53
this
6:53
deal
6:54
with
6:54
Symbiotic
6:55
and
6:55
what
6:55
do
6:55
you
6:55
think
6:55
it
6:55
says
6:55
about
6:56
Walmart's
6:56
approach
6:57
to
6:57
delivery?
6:59
Yeah,
6:59
so
7:00
this
7:00
is
7:00
actually
7:00
it's
7:01
great
7:01
because
7:01
it's
7:01
like
7:01
the
7:01
only
7:02
grocery
7:02
topic
7:02
we
7:02
have
7:03
almost
7:03
a
7:03
grocery
7:04
Jason
7:04
and
7:04
it's
7:04
still
7:05
not
7:05
quite
7:05
there
7:05
today.
7:05
So
7:06
I'll
7:06
do.
7:06
Right,
7:06
right,
7:07
right.
7:08
And
7:08
I
7:08
do
7:08
have
7:09
to
7:09
just
7:09
before
7:09
I
7:10
start,
7:10
give
7:10
a
7:10
shout
7:10
out
7:10
to
7:11
my
7:11
brother
7:11
David
7:11
who
7:12
works
7:12
for
7:12
a
7:12
company
7:12
called
7:13
Auto
7:13
Store
7:13
who
7:13
are
7:14
also
7:14
in
7:14
the
7:14
robotics
7:15
space.
7:15
So
7:15
I
7:15
was
7:15
able
7:15
to
7:15
get
7:16
a
7:16
good
7:16
insight
7:16
from
7:16
him
7:17
last
7:17
night
7:17
on
7:18
and
7:18
the
7:18
kind
7:18
of
7:18
information
7:19
on
7:19
this
7:19
deal.
7:19
So
7:19
that's
7:20
super
7:20
helpful
7:20
for
7:20
me.
7:21
Competitive
7:22
intelligence,
7:22
I
7:23
love
7:23
it.
7:23
Yeah
7:23
I'll
7:24
try
7:24
and
7:24
be
7:24
careful
7:25
what
7:25
I
7:25
share.
7:25
Right.
7:25
He
7:26
was
7:26
yeah
7:26
on
7:27
the
7:27
gossip
7:27
side
7:27
of
7:27
things
7:28
but
7:28
I'll
7:28
try
7:28
and
7:28
keep
7:28
it
7:28
factual
7:29
here.
7:29
Right
7:29
but,
7:30
but
7:31
I
7:31
do
7:31
think
7:31
generally
7:32
speaking
7:32
if
7:32
you
7:32
look
7:32
at
7:33
it
7:33
first
7:33
of
7:33
all
7:33
from
7:33
like
7:34
the
7:34
industry
7:34
lens
7:36
one
7:36
of
7:37
their
7:37
key
7:37
kind
7:38
of
7:38
accelerants,
7:38
enablers
7:39
over
7:39
the
7:39
last
7:39
number
7:40
of
7:40
years
7:40
has
7:40
been
7:40
this
7:41
focus
7:41
on
7:41
technology.
7:42
So
7:42
throughout
7:42
their
7:43
organization
7:44
they're
7:44
super
7:44
focused
7:44
on
7:44
technology.
7:45
They've.
7:46
They
7:46
already
7:47
have
7:47
an
7:47
existing
7:47
deal
7:48
with
7:48
Symbotic
7:49
on
7:49
like
7:49
large
7:50
scale
7:50
DCs
7:51
and
7:51
automation
7:52
of
7:52
their
7:52
DCs
7:52
which
7:52
has
7:53
been
7:53
successful
7:54
and
7:54
the
7:54
way
7:54
I
7:54
would
7:55
kind
7:55
of
7:56
position
7:56
that
7:56
is
7:57
Symbotic
7:57
have
7:58
been
7:58
pushed
7:58
very
7:59
hard
7:59
by
7:59
Walmart
8:00
to
8:00
improving
8:01
up
8:01
their
8:01
game
8:01
which
8:01
has
8:02
then
8:02
driven
8:02
Symbotics
8:03
growth
8:03
over
8:03
the
8:04
course
8:04
of
8:04
that
8:04
time.
8:05
If
8:05
you
8:05
take
8:06
this
8:06
as
8:06
a
8:06
separate
8:06
piece
8:07
then
8:07
this
8:07
is
8:07
a
8:07
little
8:08
bit
8:08
more
8:08
focused
8:08
on
8:09
their
8:09
what
8:10
I
8:10
think
8:10
used
8:10
to
8:10
be
8:10
called
8:11
MFCs
8:11
but
8:11
people
8:12
have
8:12
slightly
8:12
away
8:13
from
8:13
the
8:13
turn
8:13
MFCS
8:14
I
8:14
think
8:14
because
8:14
there's
8:15
been
8:15
some
8:15
difficulties
8:15
in
8:16
getting
8:16
that
8:16
off
8:16
the
8:16
ground.
8:17
And
8:17
so
8:18
maybe
8:19
not
8:19
to
8:19
get
8:19
into
8:20
too
8:20
much
8:20
detail
8:20
but
8:21
Walmart
8:21
acquired
8:22
Alert
8:22
a
8:22
number
8:23
of
8:23
years
8:23
ago
8:24
to
8:24
bring
8:24
them
8:24
in
8:25
to
8:26
do
8:26
this
8:26
work
8:27
and
8:27
now
8:27
they're
8:27
effectively
8:28
spinning
8:28
that
8:28
work
8:29
back
8:29
out
8:29
to
8:29
Symbotic.
8:30
And
8:30
so
8:30
the
8:30
way
8:30
I
8:30
would
8:30
read
8:31
that
8:31
is
8:31
they
8:32
brought
8:32
it
8:32
in
8:32
house
8:33
maybe
8:33
found
8:34
that
8:34
it
8:34
was
8:34
more
8:34
complicated
8:35
than
8:35
they
8:35
expected
8:35
to
8:36
make
8:36
this
8:36
work
8:36
with
8:36
their
8:37
own
8:37
internal
8:37
capabilities
8:38
because
8:39
it's
8:39
complicated
8:40
process
8:40
and
8:40
what
8:40
they're
8:40
really
8:41
doing
8:41
is
8:42
I
8:42
think
8:42
doubling
8:42
down
8:43
on
8:43
automation
8:43
as
8:44
a
8:44
key
8:44
pillar
8:44
for
8:45
their
8:45
growth
8:45
by
8:46
going
8:46
to
8:46
an
8:46
industry
8:47
leader
8:47
in
8:47
the
8:47
space
8:48
and
8:48
saying
8:48
to
8:48
them
8:48
we
8:49
want
8:49
you
8:49
to
8:49
recreate
8:49
the
8:50
success
8:50
you've
8:50
had
8:50
on
8:50
large
8:51
scale
8:51
distribution
8:51
centers
8:52
to
8:52
MFCs.
8:54
And
8:54
because
8:54
it's
8:55
obviously
8:55
a
8:55
key
8:55
pillar
8:56
for
8:56
what
8:56
they
8:56
want
8:56
to
8:56
do
8:57
particularly
8:57
using
8:57
their
8:58
stores
8:58
as
8:58
fulfillment
8:59
notes.
9:00
Right.
9:01
They
9:01
haven't
9:01
quite
9:01
got
9:02
that
9:02
off
9:02
the
9:02
ground
9:02
in
9:03
the
9:03
way
9:03
that
9:03
everybody
9:03
was
9:04
expecting.
9:05
I
9:05
think
9:05
that
9:06
it
9:06
the
9:06
structure
9:07
of
9:07
the
9:07
deal
9:07
is
9:08
also
9:08
very
9:08
interesting.
9:09
So
9:09
it's
9:09
being
9:09
quoted
9:10
as
9:10
symbolic
9:11
of
9:11
bought
9:11
it
9:11
for
9:12
$200
9:12
million.
9:13
But
9:13
when
9:14
you
9:14
go
9:14
below
9:14
the
9:14
surface
9:15
Walmart
9:16
are
9:16
going
9:16
to
9:16
pay
9:16
them
9:16
500
9:17
million.
9:17
There's
9:18
230
9:18
million
9:19
guaranteed
9:19
at
9:19
closing
9:20
there's
9:20
100
9:20
stores
9:21
that
9:21
they're
9:21
guaranteed.
9:21
So
9:22
it's
9:22
a
9:22
very
9:22
low
9:23
risk
9:23
deal
9:23
for
9:23
Symbotic
9:24
that
9:25
I
9:25
think
9:25
will
9:25
hopefully
9:26
clean
9:26
up
9:26
some
9:26
potential
9:27
issues
9:27
that
9:27
Walmart
9:28
have
9:28
had
9:28
internally.
9:29
And
9:29
for
9:30
me
9:30
it's
9:30
kind
9:30
of
9:30
another
9:30
example
9:31
of
9:31
Walmart
9:32
betting
9:32
on
9:32
innovation
9:33
to
9:33
continue
9:33
to
9:34
grow
9:34
their
9:35
performance
9:35
because
9:36
I
9:36
Mean,
9:36
Chris,
9:36
I
9:36
know
9:36
you're
9:37
a
9:37
big
9:37
fan
9:37
of
9:37
Doug
9:37
McMillan,
9:38
but
9:38
it
9:39
has
9:39
been
9:39
a
9:39
huge
9:40
success
9:40
over
9:40
the
9:40
last
9:41
number
9:41
of
9:41
years
9:41
of
9:42
how
9:42
much
9:42
they've
9:42
grown.
9:43
And
9:43
I
9:43
think
9:43
this
9:43
is
9:43
just
9:43
another
9:44
signal
9:44
of
9:44
them
9:44
continuing
9:45
to
9:45
double
9:45
down
9:45
on,
9:46
on
9:46
what
9:46
they've
9:46
seen
9:46
work
9:47
so
9:47
far.
9:48
Yeah,
9:49
I
9:49
mean
9:49
Chris,
9:50
how
9:50
much
9:50
do
9:51
you
9:51
think
9:51
too
9:51
with
9:51
John
9:52
saying
9:52
like
9:53
how
9:53
much
9:53
of
9:53
this
9:54
plays
9:54
into
9:54
probably
9:55
the
9:55
acceleration
9:56
that
9:56
Walmart
9:56
has
9:57
seen
9:57
with
9:57
delivery
9:58
with
9:59
grocery
9:59
in
9:59
the
10:00
last
10:00
couple
10:00
of
10:00
years,
10:01
like
10:02
that's
10:02
causing
10:02
a
10:03
lot
10:03
of
10:03
strain
10:04
on
10:04
their
10:04
systems,
10:05
I'd
10:05
imagine.
10:05
So
10:06
what
10:07
are
10:07
your
10:07
thoughts
10:07
here
10:08
on
10:08
this
10:08
investment
10:09
and
10:09
what
10:09
John
10:10
had
10:10
to
10:10
say?
10:11
Yeah,
10:11
I
10:11
mean
10:12
I
10:12
gave
10:12
John
10:12
a
10:12
shout
10:13
out
10:13
at
10:13
the
10:13
beginning
10:13
and
10:13
John
10:14
followed
10:14
suit
10:14
very
10:15
well
10:15
and
10:15
got
10:15
the
10:15
great
10:15
competitive
10:16
intelligence
10:16
here.
10:17
I
10:17
mean,
10:17
I
10:17
think,
10:17
I
10:17
think
10:18
again
10:18
your
10:18
question's
10:18
dead
10:19
on.
10:19
I
10:19
mean
10:19
I
10:20
think
10:20
you
10:20
know,
10:20
Walmart
10:21
plays
10:21
the
10:21
long
10:21
game,
10:21
you
10:22
know,
10:22
as
10:22
well
10:22
as
10:22
anyone
10:23
right
10:23
now.
10:23
And
10:23
I
10:23
think
10:24
that's
10:24
really
10:24
what
10:24
you
10:24
know,
10:24
Doug
10:25
McMillan
10:25
the
10:25
team
10:25
are
10:26
doing
10:26
here
10:26
and
10:26
David
10:26
Gugina,
10:27
the
10:27
head
10:27
of
10:27
supply
10:27
chain
10:28
too.
10:29
The,
10:29
the,
10:30
the,
10:31
the
10:31
wrap.
10:31
I
10:31
would
10:32
put
10:32
on
10:32
this
10:32
in
10:32
terms
10:33
of
10:33
what
10:33
John
10:33
said
10:33
is
10:34
like,
10:34
and
10:34
I
10:34
keep
10:34
thinking
10:34
about,
10:35
and
10:35
we
10:35
were
10:35
talking
10:35
about
10:36
this
10:36
even
10:36
before
10:36
we
10:36
got
10:36
on
10:36
the
10:37
show
10:37
today,
10:37
I
10:37
keep
10:38
thinking
10:38
about
10:38
the,
10:39
the
10:39
fabric
10:40
save
10:40
a
10:40
lot
10:41
experience
10:41
that
10:41
we
10:41
saw
10:42
in
10:42
Brooklyn,
10:42
New
10:42
York
10:43
and,
10:43
and
10:44
just
10:44
how
10:44
easy
10:44
it
10:45
was
10:45
to
10:46
plug
10:46
into
10:47
a
10:47
community
10:47
that
10:47
you
10:48
don't
10:48
previously
10:49
serve.
10:49
Right.
10:49
And,
10:50
and
10:50
we
10:50
saw
10:50
Uber
10:51
drivers
10:51
coming
10:51
in
10:51
there
10:52
left
10:52
and
10:52
right
10:52
and
10:52
all
10:53
this
10:53
thing
10:53
was,
10:53
was
10:54
stood
10:54
up
10:54
on
10:54
an
10:54
Uber
10:55
eats
10:55
marketplace
10:56
for
10:56
save
10:56
a
10:56
lot
10:56
and
10:56
they
10:57
were
10:57
doing
10:57
business
10:57
out
10:57
of
10:58
it.
10:58
So,
10:58
so
10:59
if
10:59
I'm
10:59
Walmart,
11:00
I
11:01
think
11:01
I'm
11:01
in
11:01
the
11:02
two
11:02
angles
11:02
I
11:02
would
11:02
add
11:02
here
11:02
to
11:03
what
11:03
John
11:03
said
11:03
is
11:03
I'm,
11:04
I'm,
11:04
I,
11:04
I
11:04
like
11:05
this
11:05
move,
11:05
number
11:05
one,
11:05
but
11:06
I'm
11:06
thinking,
11:06
I'm
11:06
thinking
11:07
about
11:07
these
11:07
two
11:07
things.
11:07
I
11:08
think
11:08
number
11:08
one,
11:08
I'm
11:08
thinking
11:08
about
11:09
how
11:09
do
11:09
I
11:09
extend
11:10
Walmart
11:10
plus
11:11
because
11:11
I've
11:11
been,
11:12
I've
11:12
been
11:12
successful
11:13
extending
11:13
my
11:13
demographic.
11:14
I
11:14
can
11:14
reach
11:15
higher
11:15
incomes.
11:16
It,
11:16
it
11:17
brings
11:17
the
11:17
robotics
11:18
play
11:18
into
11:18
the
11:19
cities
11:19
like
11:19
we
11:20
saw
11:20
with
11:20
fabric
11:20
and
11:21
save
11:21
a
11:21
lot.
11:21
So
11:21
I
11:22
think
11:22
that's
11:22
a
11:22
piece
11:22
of
11:23
this.
11:23
But
11:23
the
11:24
other
11:24
part
11:24
of
11:24
this
11:24
that
11:24
I
11:25
think
11:25
is
11:25
really
11:25
interesting
11:26
that
11:26
talks
11:26
about
11:26
their
11:27
strategy
11:27
relative
11:28
to
11:28
others
11:28
is
11:29
Walmart
11:30
can't
11:30
really
11:30
take
11:30
the
11:31
sortation
11:31
center
11:32
approach
11:33
that
11:33
like
11:33
Target
11:34
is
11:34
taking
11:34
because
11:34
of
11:35
where
11:35
their
11:35
stores
11:35
are
11:35
located.
11:36
Their
11:36
stores
11:36
are
11:37
very
11:37
rural
11:37
based.
11:38
So
11:38
to
11:39
get
11:39
that
11:39
same
11:40
day
11:40
delivery
11:41
efficiency
11:42
they
11:43
have
11:43
to
11:43
go
11:43
to
11:43
robotics
11:44
and
11:44
they
11:44
have
11:44
to
11:44
go
11:44
to
11:44
robotics
11:45
in
11:45
the
11:46
store
11:46
itself
11:47
via
11:47
micro
11:47
fulfillment.
11:48
So
11:49
that's
11:49
the
11:49
key
11:49
thing
11:49
here.
11:49
And
11:50
I
11:50
think
11:50
that's
11:50
what
11:51
separates
11:51
Walmart
11:51
in
11:52
terms
11:52
of
11:52
how
11:52
they're
11:52
thinking
11:53
about
11:53
the
11:53
landscape
11:54
relative
11:54
to
11:55
Target
11:55
and
11:55
even
11:56
like
11:56
Amazon
11:56
too
11:57
in
11:57
terms
11:57
of
11:57
their
11:57
approach.
11:58
So,
11:59
so
11:59
honestly
11:59
I,
12:00
I
12:00
can't
12:00
stop
12:01
thinking
12:01
about
12:01
the
12:02
potential
12:02
here
12:02
that
12:02
if
12:03
Walmart
12:03
cracks
12:03
the
12:04
code
12:04
on
12:04
this,
12:04
this
12:04
is
12:04
why
12:05
it's
12:05
a
12:05
great
12:05
investment.
12:06
If
12:06
they
12:07
crack
12:07
the
12:07
code
12:07
on
12:08
this
12:08
over
12:08
10
12:08
years,
12:08
like
12:09
Walmart
12:09
could
12:09
have
12:10
a
12:10
very
12:10
profound
12:11
presence
12:11
in
12:12
the
12:12
biggest
12:12
cities
12:13
in
12:13
America
12:13
in
12:14
a
12:14
way
12:14
that
12:14
they
12:14
just
12:15
don't
12:15
have
12:15
right
12:16
now.
12:16
Yeah.
12:17
And
12:17
with
12:17
an
12:17
income
12:17
demographic
12:18
that
12:18
they
12:18
just
12:19
don't
12:19
have
12:19
in
12:19
those
12:19
cities.
12:20
So
12:20
that's
12:20
the
12:21
play
12:21
here.
12:22
Yeah,
12:22
I
12:22
agree,
12:22
Chris.
12:23
I
12:23
mean,
12:23
I
12:23
think
12:24
the
12:24
thing
12:24
is
12:24
that
12:25
this
12:25
will
12:25
also
12:26
in
12:26
the
12:26
long
12:26
run
12:27
help
12:27
Walmart
12:28
keep
12:28
prices
12:28
low,
12:28
which
12:29
is
12:29
exactly
12:30
the
12:30
driver
12:30
that
12:31
you're
12:31
talking
12:31
about.
12:31
Like
12:32
you
12:32
think
12:32
about,
12:33
you
12:33
know,
12:33
the
12:33
Save
12:33
A
12:34
Lot
12:34
example.
12:34
If
12:34
I'm
12:35
going
12:35
on
12:35
a
12:35
marketplace
12:36
and
12:36
I'm
12:36
just
12:36
buying
12:37
eggs,
12:37
like
12:38
Save
12:38
A
12:38
Lot
12:39
popped
12:39
up
12:39
as
12:39
the
12:40
cheapest
12:40
place
12:40
to
12:40
buy
12:41
eggs.
12:41
And
12:41
you
12:41
know
12:41
what,
12:41
I
12:42
don't
12:42
really
12:42
care
12:43
where
12:43
I'm
12:43
getting
12:44
which
12:44
retailer
12:44
I'm
12:45
getting
12:45
my
12:45
eggs,
12:45
but
12:45
if
12:45
I
12:45
get
12:46
served
12:46
up
12:46
three
12:47
options
12:47
and
12:47
that's
12:48
the
12:48
cheapest,
12:48
I
12:48
don't
12:49
care
12:49
if
12:49
they
12:49
have
12:49
a
12:49
physical
12:50
presence
12:50
or
12:50
not,
12:50
that's
12:51
where
12:51
I'm
12:51
going
12:51
to
12:51
go.
12:52
And
12:52
I
12:52
think
12:52
that's
12:53
what
12:53
this
12:53
keys
12:53
in
12:54
on
12:54
here,
12:54
that
12:54
Walmart
12:55
will
12:55
be
12:55
able
12:55
to
12:55
do
12:56
things
12:56
more
12:56
efficiently.
12:57
They're
12:57
eliminating
12:57
the
12:58
bottlenecks
12:58
of
12:58
manual
12:59
picking
12:59
from
13:00
their,
13:00
their
13:01
process
13:01
like
13:01
you
13:02
said
13:02
to
13:02
you
13:02
know,
13:02
ship
13:03
from
13:03
store.
13:03
And
13:04
this
13:04
is
13:05
something
13:05
that,
13:05
you
13:05
know,
13:06
will
13:06
just
13:06
continue
13:07
to
13:07
develop.
13:08
They'll
13:08
keep
13:08
learning
13:08
from
13:09
and
13:09
be
13:09
able
13:09
to
13:09
serve
13:09
more
13:10
people.
13:10
But
13:11
jump
13:11
back
13:11
in,
13:12
Chris?
13:12
Well,
13:13
no,
13:13
I
13:13
just
13:13
wanted,
13:13
I
13:13
wanted,
13:14
I
13:14
just
13:14
wanted
13:14
to
13:14
point
13:14
out,
13:14
because
13:15
I
13:15
think
13:15
you're
13:15
dead
13:15
right,
13:15
like
13:16
just
13:16
because
13:16
you
13:17
were
13:17
there
13:17
with
13:17
me.
13:17
How
13:18
many
13:18
people
13:18
did
13:18
Save
13:19
A
13:19
Lot
13:19
have
13:19
working
13:20
that,
13:20
that
13:20
facility
13:21
too?
13:21
Like
13:21
they
13:22
need
13:22
two
13:22
people
13:22
to
13:23
facilitate
13:23
two
13:24
people,
13:24
two
13:25
pickers.
13:25
We
13:25
saw
13:25
more
13:25
Uber
13:26
drivers
13:26
coming
13:27
in
13:27
than
13:27
there
13:27
were
13:28
in
13:28
the
13:28
time,
13:28
in
13:29
the
13:29
three
13:29
hours
13:30
we
13:30
were
13:30
there.
13:30
Yeah,
13:31
yeah.
13:31
And
13:31
picking
13:32
all
13:32
things.
13:32
Like
13:32
again,
13:33
I
13:33
think
13:33
that's
13:33
the
13:33
key
13:34
thing.
13:34
Like
13:34
fresh
13:35
frozen
13:36
ambient.
13:36
There
13:37
was
13:37
no
13:37
manual
13:38
labor
13:38
associated
13:39
with
13:40
the
13:40
picking
13:41
process.
13:41
It
13:41
was
13:41
all
13:42
coming
13:42
to
13:42
those
13:43
two
13:43
individual
13:43
baggers
13:44
and
13:44
that
13:44
was
13:44
it.
13:45
That
13:45
was
13:45
all
13:45
they
13:46
needed.
13:46
But
13:46
Kelly,
13:47
any
13:47
last
13:47
minute
13:47
thoughts
13:48
here
13:48
to
13:48
close
13:48
us
13:49
up?
13:50
Definitely
13:51
excited
13:51
to
13:52
see
13:52
where
13:52
it
13:52
goes.
13:52
I
13:53
think
13:53
that
13:53
the,
13:54
the
13:54
Save
13:54
A
13:54
Lot
13:55
example
13:55
is
13:55
a
13:55
great
13:55
one.
13:56
If
13:56
they
13:56
can
13:56
start
13:56
to
13:57
get
13:58
that
13:58
kind
13:58
of
13:58
scale.
13:59
It'll
14:00
be
14:00
really
14:00
interesting.
14:01
The
14:01
city
14:01
play
14:02
that
14:02
you
14:02
mentioned
14:03
is,
14:03
is
14:03
one
14:04
I'm
14:04
excited
14:04
to
14:04
see
14:05
play
14:05
out
14:05
as
14:05
well.
14:06
Right?
14:07
Yeah.
14:07
To
14:07
save
14:07
a
14:08
lot's
14:08
doing.
14:08
Serving
14:09
2
14:09
million
14:09
customers
14:09
with
14:10
a
14:10
7,000
14:10
square
14:11
foot
14:11
warehouse.
14:12
I
14:12
mean
14:12
I
14:12
think
14:12
you're
14:12
dead
14:13
on,
14:13
Kelly.
14:13
We
14:13
gotta,
14:14
we
14:14
gotta
14:14
see
14:15
where
14:15
this,
14:15
this
14:15
allows
14:16
Walmart
14:16
to
14:16
go.
14:18
I
14:18
would
14:19
add
14:19
maybe
14:19
just
14:19
one
14:19
final
14:20
thing
14:20
on
14:20
like
14:20
around
14:21
the
14:21
topic
14:21
of
14:22
the
14:22
like
14:22
the
14:23
reduction
14:23
of
14:23
manual
14:23
labor
14:24
is
14:24
that
14:24
the,
14:25
the
14:25
basket
14:25
economics
14:26
of
14:27
like
14:27
home
14:27
delivery
14:28
for
14:28
grocery
14:29
just
14:29
doesn't
14:29
stack
14:30
up
14:30
right.
14:30
So
14:30
if
14:31
we've
14:31
done
14:31
some
14:31
recent
14:32
work
14:32
where
14:32
you
14:32
compare
14:33
the
14:33
grocery
14:33
basket
14:34
with
14:34
an
14:34
apparel
14:35
basket
14:35
for
14:35
home
14:35
delivery
14:36
and
14:36
like
14:36
the
14:36
differences
14:37
is
14:37
so
14:37
stark
14:37
because
14:38
everyone's
14:38
losing
14:38
money
14:38
in
14:39
grocery
14:39
and
14:39
so
14:39
that's
14:40
why
14:40
there's
14:40
such
14:40
a
14:40
shift
14:41
to
14:41
kind
14:42
of
14:42
brick
14:42
and
14:42
mortar.
14:42
And
14:43
actually
14:43
interesting
14:43
because
14:44
I
14:44
know
14:44
we
14:44
touched
14:44
on
14:44
before
14:44
we
14:45
talked
14:45
that
14:45
Robert
14:45
Yosef
14:46
from
14:46
the
14:46
Schwartz
14:46
Group
14:47
mentioned
14:47
that
14:47
94%
14:48
of
14:48
sales
14:48
in
14:49
Germany
14:49
are
14:49
still
14:49
brick
14:50
and
14:50
mortar.
14:50
It's
14:51
somewhere
14:51
in
14:51
the
14:51
high
14:51
80s
14:52
in
14:52
the
14:52
US
14:53
of
14:53
how
14:53
much
14:53
sales
14:54
and
14:54
grocery
14:54
are
14:54
still
14:54
brick
14:55
and
14:55
mortar.
14:55
So
14:56
people
14:56
still
14:56
want
14:56
to
14:56
go
14:57
to
14:57
stores
14:57
and
14:58
this
14:58
is
14:58
a
14:58
key
14:58
way
14:58
to
14:58
enable
14:59
that
14:59
to
14:59
still
14:59
have
15:00
pickup
15:00
and
15:01
then
15:01
maybe
15:01
there's
15:01
some
15:02
component
15:02
of
15:02
last
15:02
mile
15:03
delivery.
15:03
But
15:03
they
15:03
have
15:03
to
15:04
make
15:04
the
15:04
economics
15:04
of
15:05
the
15:05
basket
15:05
make
15:05
sense.
15:05
And
15:06
Walmart
15:06
are
15:06
ahead
15:06
of
15:06
the
15:06
curve
15:07
on
15:07
that
15:07
versus
15:08
Yep.
15:09
Yep.
15:09
The
15:10
other
15:10
point
15:10
I'd
15:10
say
15:10
too,
15:11
it's
15:11
cool
15:11
to
15:11
see
15:11
MFC
15:12
is
15:12
getting
15:12
talked
15:12
about
15:13
again
15:13
and
15:14
like,
15:14
you
15:14
know,
15:14
and
15:14
team
15:15
like
15:15
it
15:15
seems
15:15
like
15:16
they
15:16
kind
15:16
of
15:16
died
15:16
off
15:16
for
15:17
a
15:17
year
15:17
and
15:17
we're
15:17
all
15:17
kind
15:17
of
15:18
like
15:18
going
15:18
why
15:18
did
15:18
this
15:19
happen?
15:19
Like
15:20
this
15:20
seems
15:20
like
15:20
a
15:20
good
15:20
idea
15:21
that
15:21
we
15:21
need
15:21
to
15:21
still
15:22
figure
15:22
out
15:22
to
15:22
John's
15:23
point
15:23
because
15:23
the
15:23
economics
15:24
don't
15:24
work.
15:24
But
15:25
so
15:25
it's
15:25
great
15:25
to
15:25
see.
15:25
All
15:26
right,
15:26
headline
15:26
number
15:27
two,
15:27
this
15:27
is
15:27
a
15:28
potentially
15:28
fun
15:28
one.
15:29
Target
15:29
has
15:30
said
15:30
that
15:30
it
15:31
has
15:31
cut
15:31
its
15:31
go
15:31
to
15:32
market
15:32
timeframe
15:32
from
15:33
seven
15:33
months
15:34
to
15:34
eight
15:35
weeks
15:35
according
15:36
to
15:36
Retail
15:36
Dive.
15:36
Rick
15:37
Gomez,
15:37
the
15:38
chief
15:38
commercial
15:39
officer
15:39
at
15:39
Target,
15:40
told
15:40
an
15:41
audience
15:41
last
15:41
Monday
15:41
at
15:42
the
15:42
National
15:42
Retail
15:42
Federation's
15:43
Big
15:43
show
15:44
conference
15:44
that
15:45
Target
15:45
has
15:46
shortened
15:46
its
15:46
go
15:47
to
15:47
market
15:47
cycle
15:47
to
15:47
eight
15:48
weeks
15:48
down
15:48
from
15:48
27
15:49
weeks
15:50
for
15:50
specific
15:51
trending
15:51
items
15:52
so
15:52
they
15:52
can
15:52
reach
15:52
shoppers
15:53
faster.
15:54
Quote,
15:55
not
15:55
everything
15:56
is
15:56
in
15:56
eight
15:56
weeks,
15:57
Gomez
15:57
explained.
15:58
But
15:58
the
15:58
things
15:58
that
15:59
are
15:59
trending
15:59
and
16:00
that
16:00
we're
16:00
seeing
16:01
that
16:01
are
16:01
going
16:01
viral,
16:02
that
16:02
we
16:02
want
16:02
to
16:03
be
16:03
in
16:03
market
16:03
ahead
16:04
of
16:04
the
16:04
competition,
16:05
we've
16:05
created
16:05
an
16:06
operating
16:06
model
16:07
that
16:07
enables
16:07
us
16:08
to
16:08
do
16:08
that,
16:08
end
16:08
quote.
16:10
John
16:10
we're
16:10
going
16:10
to
16:10
go
16:11
to
16:11
you
16:11
again
16:11
on
16:12
this
16:12
one.
16:13
Are
16:13
you
16:13
buying
16:14
or
16:14
selling?
16:14
Target's
16:15
announcement
16:15
of
16:16
cutting
16:16
its
16:16
product
16:17
lead
16:17
times
16:18
from
16:18
seven
16:18
months
16:18
to
16:18
eight
16:19
weeks.
16:19
And
16:20
what,
16:20
if
16:20
any,
16:20
impact
16:21
will
16:21
it
16:21
have
16:21
on
16:22
Target's
16:22
overall
16:23
business
16:23
performance?
16:25
Yeah,
16:25
I
16:25
mean,
16:25
to
16:25
answer
16:26
the
16:26
first
16:26
question,
16:26
I
16:26
think
16:26
I'm
16:27
a
16:27
hold
16:27
right
16:27
now
16:28
because
16:28
I'm
16:28
not
16:28
quite,
16:29
to
16:29
be
16:29
honest.
16:30
It's,
16:31
it's,
16:32
I
16:32
don't
16:33
know,
16:33
it's
16:33
kind
16:33
of,
16:33
it's,
16:34
it
16:34
feels
16:34
like
16:34
a
16:35
very
16:35
exciting
16:35
announcement,
16:36
right?
16:36
We're
16:36
going
16:36
to
16:36
do
16:36
stuff
16:37
in
16:37
eight
16:37
weeks
16:37
and
16:37
we
16:38
cut
16:38
it
16:38
down
16:38
from
16:38
seven
16:39
months.
16:39
And
16:39
like
16:39
all
16:39
those
16:40
numbers
16:40
sound
16:40
great,
16:41
but
16:41
I'd
16:42
have
16:42
a
16:42
couple
16:42
of
16:43
like,
16:43
first
16:43
of
16:43
all
16:43
concerns
16:44
about
16:44
impacts
16:45
this
16:45
could
16:45
have
16:45
on
16:45
Target
16:46
operationally.
16:46
Right?
16:47
So
16:47
the
16:47
first
16:47
thing
16:47
is
16:48
that
16:48
historically
16:49
means
16:49
historically,
16:50
over
16:50
the
16:50
last
16:50
number
16:50
of
16:50
years,
16:51
Target
16:51
have
16:51
mentioned
16:52
inventory
16:52
issues
16:53
a
16:53
lot
16:53
in
16:53
earnings
16:54
calls,
16:54
right.
16:54
That
16:54
they've
16:54
had
16:55
too
16:55
much
16:55
inventory
16:55
of
16:56
the
16:56
wrong
16:56
items.
16:56
They've
16:57
gotten
16:57
hit
16:57
by
16:57
markdowns.
16:58
It's
16:58
driving
16:59
some
16:59
of
16:59
their
16:59
underlying
17:01
underperformance.
17:02
I
17:03
only
17:03
see
17:03
this
17:04
exacerbating
17:05
that
17:05
issue,
17:06
right?
17:06
If
17:06
you're,
17:06
if
17:06
you're
17:06
changing
17:07
and
17:07
saying,
17:07
hey,
17:07
this
17:07
is
17:08
a
17:08
big
17:08
deal
17:08
and
17:08
we're
17:08
going
17:08
to
17:08
go
17:08
after
17:09
it
17:09
in
17:09
eight
17:09
weeks,
17:09
but
17:09
you
17:10
choose
17:10
the
17:10
wrong
17:10
thing,
17:11
suddenly
17:11
you've
17:11
got
17:12
a
17:12
ton
17:12
of
17:12
like
17:12
quote
17:12
unquote
17:13
trendy
17:13
inventory
17:14
that
17:14
actually
17:14
nobody
17:15
wants,
17:16
which
17:16
is
17:16
not
17:17
probably
17:17
going
17:17
to
17:17
solve
17:17
Target's
17:18
underlying
17:18
issue.
17:19
And
17:19
if
17:19
they
17:19
currently
17:20
have
17:21
forecasting
17:22
issues
17:22
at
17:22
a
17:22
seven
17:23
month
17:23
lead
17:23
time,
17:23
I
17:24
don't
17:24
see
17:24
how
17:24
that's
17:24
suddenly
17:25
going
17:25
to
17:25
get
17:25
better
17:25
in
17:25
an
17:25
eight
17:26
week
17:26
lead
17:26
time.
17:26
So
17:26
that's
17:26
my
17:27
first
17:27
kind
17:27
of
17:28
operational
17:29
concern
17:29
I
17:29
would
17:29
have
17:30
from
17:30
a,
17:31
from
17:31
like
17:31
kind
17:31
of
17:31
a
17:32
merchandising
17:32
ops
17:33
perspective.
17:33
The
17:34
other
17:34
thing
17:34
I
17:34
would
17:34
say
17:35
is
17:36
like,
17:36
I
17:36
don't
17:36
think
17:36
that
17:37
this
17:37
gets
17:37
at
17:38
Target's
17:38
underlying
17:39
problem
17:39
of
17:40
underperformance,
17:40
right?
17:41
So
17:41
we
17:41
know
17:41
that
17:41
they're
17:41
constrained
17:42
on
17:42
basically
17:43
price.
17:44
I
17:44
mean,
17:44
is
17:44
the
17:44
big
17:45
issue
17:45
that
17:45
the
17:45
stick
17:46
that's
17:46
being
17:46
used
17:46
to
17:46
beat
17:46
Target
17:47
all
17:47
the
17:47
time
17:47
having
17:48
a
17:48
trendy,
17:48
I
17:49
think,
17:49
bow,
17:49
that
17:50
is
17:50
one
17:50
of
17:50
the
17:50
examples
17:51
that
17:51
they
17:51
use.
17:51
Having
17:51
a
17:51
trendy
17:52
bow
17:52
in
17:52
time
17:52
for
17:52
holiday
17:53
seasons
17:53
is
17:53
not
17:53
going
17:54
to
17:54
change
17:54
that.
17:54
There's
17:54
a
17:54
little
17:55
bit
17:55
of
17:55
maybe
17:55
additional
17:56
incremental
17:56
sales
17:57
you
17:57
can
17:57
gain,
17:57
but
17:57
I
17:57
don't
17:58
know
17:58
if
17:58
it's
17:58
going
17:58
to
17:58
change
17:58
it.
17:59
The
17:59
other
17:59
thing
17:59
is
18:00
eight
18:00
weeks
18:00
I
18:01
was
18:01
trying
18:01
to
18:01
think
18:01
through
18:02
in
18:02
the
18:03
year,
18:03
right,
18:03
where
18:03
eight
18:04
weeks
18:04
could
18:04
actually
18:04
be
18:04
helpful
18:05
for
18:05
you
18:05
on
18:05
a
18:05
trend.
18:06
And
18:07
so
18:07
if
18:07
you
18:07
see
18:07
a
18:07
holiday
18:08
trend,
18:08
it's
18:08
probably
18:09
going
18:09
to
18:09
come
18:09
in
18:10
maybe
18:10
mid
18:10
October
18:11
to
18:11
early
18:11
November,
18:12
you're
18:13
already
18:13
past
18:13
the
18:13
holidays
18:14
at
18:14
eight
18:14
weeks.
18:15
If
18:15
you
18:15
see
18:15
a
18:16
back
18:16
to
18:16
school
18:16
trend,
18:17
which
18:17
I
18:17
thought
18:17
was
18:17
maybe
18:18
the
18:18
closest
18:19
I
18:19
could
18:19
get,
18:19
you
18:19
might
18:19
see
18:19
it
18:20
in
18:20
June
18:20
and
18:20
you
18:20
hit
18:20
stores
18:21
in
18:21
September.
18:22
But
18:22
we
18:22
all
18:22
know
18:23
in
18:23
real
18:23
life,
18:23
in
18:23
retail,
18:24
back
18:24
to
18:24
school
18:24
is
18:24
done
18:24
by
18:25
September.
18:25
Right.
18:25
You're
18:25
into
18:25
Halloween.
18:26
So
18:26
I
18:27
don't
18:27
see
18:27
how
18:27
this
18:28
actually
18:28
helps
18:28
them
18:28
from
18:29
that
18:29
perspective.
18:30
And
18:30
the
18:30
final
18:30
point
18:31
I'd
18:31
have
18:31
is
18:32
like
18:32
eight
18:33
weeks
18:33
is
18:33
still
18:33
way
18:34
behind
18:34
the
18:34
market
18:35
leaders
18:36
of
18:36
like
18:37
real
18:37
quick
18:37
turn.
18:38
So
18:38
Zara
18:38
is
18:38
two
18:38
to.
18:39
Two
18:39
to
18:39
four
18:39
weeks.
18:39
Right.
18:39
And
18:40
so
18:40
that's
18:40
kind
18:40
of
18:40
our
18:40
benchmark.
18:41
It's
18:41
not
18:41
the
18:41
exact
18:42
same
18:42
model,
18:43
but
18:43
I
18:44
still
18:44
think
18:44
it
18:44
doesn't
18:44
think
18:45
it
18:45
brings
18:45
it
18:45
quite
18:45
there.
18:46
So
18:46
it's
18:47
actually
18:47
funny.
18:47
Having
18:47
started
18:48
from
18:48
a
18:48
hold
18:48
and
18:48
then
18:48
work
18:48
my
18:49
way
18:49
through
18:49
those
18:49
three
18:49
points,
18:50
I'm
18:50
probably
18:51
on
18:51
a
18:51
not
18:51
buying
18:52
situation.
18:53
I
18:53
just
18:53
don't
18:53
see
18:53
how
18:54
it
18:54
trends
18:54
to
18:54
their
18:54
actual.
18:55
Solves
18:56
the
18:56
problems.
18:56
And
18:57
I
18:57
think
18:57
that
18:57
the
18:58
thing
18:58
that
18:58
Target's
18:58
always
18:59
been
18:59
known
18:59
for
18:59
is
18:59
kind
18:59
of
19:00
storytelling,
19:00
building
19:01
a
19:01
brand
19:02
that
19:02
tells
19:02
a
19:02
story
19:02
that
19:03
you
19:03
can
19:03
rely
19:03
on,
19:03
that's
19:04
consistent
19:04
that
19:04
you
19:04
know
19:05
what
19:05
you're
19:05
going
19:05
to
19:05
get.
19:06
Yes,
19:06
there's
19:06
some
19:07
kind
19:07
of
19:07
trend
19:08
on
19:08
trend
19:09
moments
19:09
that
19:09
they've
19:09
had,
19:09
but
19:10
it's
19:10
not
19:10
their
19:10
usp.
19:12
So
19:12
I,
19:12
I
19:13
think
19:13
it
19:13
sounds
19:13
great,
19:14
but
19:14
I
19:14
don't
19:14
know
19:15
what
19:15
it's
19:15
driving
19:15
at
19:16
to
19:16
solve
19:16
for
19:16
for
19:17
them.
19:18
Kudos
19:18
to
19:18
you,
19:19
John,
19:19
because
19:19
I
19:19
was
19:19
gonna,
19:19
I
19:20
was
19:20
gonna
19:20
hammer
19:20
you
19:20
over
19:20
the
19:20
head
19:21
with.
19:21
So
19:21
you're
19:21
a
19:21
hold
19:22
on
19:22
this,
19:22
huh?
19:22
But
19:22
no,
19:23
you,
19:23
you
19:24
switched
19:24
me,
19:24
I.
19:25
Think,
19:25
with
19:25
me
19:25
on
19:25
my
19:25
feet,
19:26
Chris.
19:28
Yeah,
19:28
right.
19:29
You
19:29
switch
19:29
mid
19:30
diatribe.
19:31
All
19:31
right,
19:31
so.
19:31
And
19:31
the
19:32
other
19:32
part
19:32
too,
19:32
that
19:32
you
19:33
know,
19:33
that
19:33
we,
19:33
you
19:33
didn't
19:34
mention
19:34
was
19:34
if
19:35
depending
19:35
on
19:35
the,
19:36
the
19:36
degree
19:36
to
19:36
which
19:37
you
19:37
try
19:37
to
19:37
do
19:37
this,
19:37
it's
19:37
going
19:37
to
19:38
have
19:38
a
19:38
sizable
19:38
impact
19:39
on
19:39
your
19:39
product
19:39
margins
19:40
as
19:40
well.
19:40
Like
19:41
incredibly
19:42
sizable.
19:42
Yeah,
19:42
Kelly,
19:43
so
19:43
I
19:43
was
19:43
going
19:43
to
19:43
bring
19:43
you
19:44
in
19:44
on
19:44
this
19:44
now.
19:44
So,
19:45
so
19:45
what's
19:45
your
19:45
take?
19:46
Are
19:46
you,
19:46
are
19:46
you
19:46
equally
19:47
skeptical?
19:47
Not
19:48
as
19:48
skeptical.
19:48
More
19:49
skeptical.
19:49
What
19:49
do
19:49
you
19:50
think
19:50
here?
19:50
I'd
19:51
say
19:51
I'm,
19:51
I
19:52
came
19:52
in
19:52
maybe
19:53
less
19:53
skeptical.
19:54
And
19:54
John
19:54
has,
19:54
has
19:55
fully
19:55
talked
19:55
me
19:56
into
19:56
the,
19:56
the
19:56
selling
19:57
as
19:57
well
19:58
margin
19:59
was
19:59
exactly
20:00
where
20:00
my
20:00
mind
20:01
went
20:01
when
20:01
I
20:01
read
20:01
this
20:01
headline.
20:03
One
20:03
to
20:03
eight
20:03
weeks.
20:04
Like
20:04
John
20:04
said,
20:05
not
20:05
as
20:05
fast
20:06
as
20:06
your
20:06
competitors
20:06
in
20:07
the
20:07
apparel
20:07
space
20:08
are
20:08
doing.
20:08
If
20:08
that's
20:09
really
20:09
who
20:09
you're
20:10
looking
20:10
to
20:10
play
20:10
against.
20:11
They,
20:11
they
20:11
talked
20:12
about
20:12
cherries
20:12
and,
20:13
you
20:13
know,
20:13
I'm,
20:13
I'm
20:13
seeing
20:14
cherry
20:14
pajamas.
20:15
For
20:15
Valentine's
20:15
Day.
20:16
So
20:16
I
20:16
get
20:16
it.
20:16
I.
20:17
I've
20:17
seen
20:17
the
20:17
trends,
20:18
but
20:19
if
20:20
you're
20:20
really
20:20
looking
20:20
to
20:20
do
20:20
it
20:21
that
20:21
fast,
20:22
I
20:22
question
20:22
how
20:22
much
20:23
of
20:23
that
20:23
development
20:23
they're
20:24
actually
20:24
doing
20:25
internally
20:26
with
20:26
their
20:26
merchandising
20:27
team
20:27
versus
20:27
going,
20:28
you
20:28
know,
20:28
to
20:28
the
20:29
market,
20:29
buying
20:30
from
20:30
a
20:30
vendor,
20:31
and
20:31
you're
20:31
going
20:31
to
20:31
lose
20:32
margin
20:32
on
20:32
that.
20:33
So
20:33
if
20:33
they're
20:34
to
20:34
figure
20:35
that
20:35
mix
20:36
out
20:36
effectively,
20:37
they
20:37
could
20:37
run
20:38
the
20:38
risk
20:38
of
20:39
buying
20:39
a
20:39
lot
20:39
of
20:40
more
20:40
expensive
20:41
product
20:41
that
20:41
they're
20:42
trying
20:42
to
20:42
push
20:42
for
20:42
trend.
20:43
And
20:43
then
20:43
to
20:43
John's
20:44
point,
20:44
you
20:45
know,
20:45
if
20:45
it's
20:45
the
20:45
wrong
20:45
trend
20:46
or
20:46
you
20:46
missed
20:46
the
20:46
sale,
20:47
not
20:47
only
20:47
are
20:48
you
20:48
inventory
20:49
bloated,
20:49
but
20:49
you
20:50
also
20:50
have
20:51
less
20:51
profitable
20:52
inventory
20:52
on
20:52
hand.
20:53
Right.
20:54
And
20:54
the
20:54
other
20:54
point
20:54
that
20:54
you
20:55
bring
20:55
up
20:55
to
20:55
Kelly
20:55
is
20:55
you're
20:55
probably
20:56
not
20:56
doing
20:56
this
20:56
through
20:56
your
20:56
own
20:56
brands,
20:57
which
20:57
has
20:57
always
20:57
been
20:58
a
20:58
pillar
20:58
of
20:58
Target
20:59
strategy
20:59
as
21:00
well,
21:00
if
21:00
you're
21:00
trying
21:00
to
21:00
chase
21:00
this
21:01
type
21:01
of
21:01
business.
21:02
But.
21:02
And
21:02
at
21:02
the
21:02
end
21:02
of
21:03
the
21:03
day,
21:03
too,
21:03
isn't.
21:03
Is
21:04
it
21:04
what
21:04
he's
21:04
describing
21:05
just
21:05
good,
21:06
good
21:06
merchandising?
21:07
Like,
21:07
you're
21:07
always
21:08
trying
21:08
to
21:08
capture
21:08
the
21:08
trends
21:09
and
21:09
get
21:09
products
21:09
in
21:09
as
21:10
quickly
21:10
as
21:10
you
21:10
can,
21:10
right?
21:11
Yeah.
21:11
I
21:11
mean,
21:11
I'm
21:12
not
21:12
a
21:12
merchant,
21:12
but
21:13
I've
21:13
spent
21:13
the
21:13
last
21:13
10
21:14
years
21:14
with
21:14
you,
21:14
and
21:14
we've
21:15
interviewed
21:15
plenty
21:15
of
21:15
merchants
21:16
at
21:16
this
21:16
level.
21:16
And
21:16
that
21:17
was
21:17
the
21:17
first
21:17
thing
21:17
that
21:17
I
21:18
saw
21:18
when
21:18
I
21:18
heard
21:18
this.
21:19
I
21:19
was
21:19
like,
21:20
isn't
21:20
this
21:21
just
21:21
what
21:21
you're
21:21
supposed
21:22
to
21:22
do
21:22
as
21:22
a
21:22
merchant,
21:23
like,
21:23
capture
21:23
the
21:23
trends
21:24
and
21:24
figure
21:24
out
21:24
what
21:25
makes
21:25
sense
21:25
for
21:25
Target
21:26
to
21:26
invest
21:26
in?
21:26
But,
21:27
Chris,
21:27
I
21:27
think.
21:28
I
21:28
think
21:28
they're
21:29
hitting.
21:29
There's
21:29
a
21:29
bigger
21:30
issue
21:30
here.
21:31
Like,
21:31
I
21:31
don't
21:31
think
21:32
this
21:32
is
21:32
an
21:32
issue
21:33
for
21:33
Target.
21:34
Target.
21:34
I
21:34
mean,
21:34
Kelly,
21:35
I'm
21:35
not
21:35
going
21:35
to
21:36
go
21:36
to
21:36
you
21:36
and
21:36
John
21:36
on
21:36
this
21:37
one
21:37
because
21:37
I
21:37
don't
21:37
think
21:37
you're
21:37
probably
21:38
buying
21:38
a
21:38
lot
21:38
of
21:38
your
21:39
clothes
21:39
or
21:39
fill
21:40
in
21:40
items
21:40
at
21:41
Target.
21:41
But
21:41
like.
21:42
Kelly,
21:42
do
21:42
you
21:42
feel
21:43
like.
21:43
I
21:43
feel
21:44
like
21:44
Target's
21:45
already
21:45
hitting
21:45
on
21:46
the
21:46
trends.
21:46
Like,
21:46
if
21:46
you
21:47
need
21:47
something
21:48
like
21:48
that's
21:48
been
21:49
Target's
21:49
cachet
21:50
all
21:50
along
21:50
is
21:51
that
21:51
they
21:51
have
21:52
great
21:52
products
21:53
that.
21:53
That's
21:53
on
21:54
trend
21:54
at
21:54
a
21:55
lower
21:55
price.
21:55
Would
21:55
you
21:56
agree
21:56
with
21:56
that,
21:56
Kelly?
21:57
I
21:57
would
21:57
agree.
21:58
Yeah.
21:58
You
21:58
know,
21:59
go
21:59
to
21:59
any
21:59
store,
22:00
back
22:00
to
22:00
school,
22:00
you're
22:01
gonna
22:01
find
22:01
something.
22:01
Oh,
22:02
cute.
22:02
Do
22:02
I
22:02
need
22:03
this?
22:03
No.
22:03
Does
22:03
it
22:04
kind
22:04
of
22:04
hit
22:04
the
22:04
mark?
22:05
For
22:05
the
22:05
moment,
22:05
yeah.
22:06
Ah,
22:06
interesting.
22:07
Yes.
22:07
Right.
22:08
So
22:08
I
22:09
think,
22:09
like,
22:09
to
22:09
me,
22:10
it's
22:10
really.
22:10
This
22:11
really
22:11
is
22:12
like
22:12
throwing
22:13
tech
22:13
at
22:13
a
22:14
problem
22:14
or
22:14
an
22:15
investment
22:15
at
22:15
a
22:15
problem
22:16
that
22:16
they
22:16
don't
22:16
need
22:16
to
22:17
solve
22:17
right
22:17
now.
22:18
I'm
22:18
giving
22:19
a
22:19
quick
22:19
plug
22:20
for
22:20
our
22:20
show.
22:20
Fashion's
22:21
missing
22:21
middle.
22:21
Like
22:22
we
22:22
were
22:22
going,
22:22
we,
22:23
we
22:23
have
22:23
Target
22:23
in
22:24
the
22:24
plan
22:24
because
22:25
they
22:25
are
22:26
serving
22:26
people
22:27
at
22:27
a
22:27
price
22:27
point
22:28
where
22:28
you
22:28
can
22:28
get
22:28
affordable
22:30
on
22:30
trend.
22:30
Fashion
22:31
like
22:32
this
22:32
is
22:32
not
22:32
an
22:32
issue.
22:33
And
22:33
if
22:33
they
22:33
miss
22:34
one
22:34
bow
22:35
trend
22:35
or
22:35
they
22:35
miss
22:36
one
22:36
cherry
22:36
trend,
22:37
like
22:37
they
22:37
still
22:38
have
22:38
plenty
22:38
of
22:38
other
22:38
assortment
22:39
that
22:39
people
22:39
are
22:39
already
22:40
going
22:40
there
22:40
for.
22:41
I
22:41
think
22:41
they
22:41
need
22:41
to
22:42
find
22:42
a
22:42
new
22:42
problem
22:43
to
22:43
solve.
22:44
Yeah.
22:45
Okay,
22:45
so
22:45
I,
22:46
I
22:46
mean
22:46
I
22:46
agree
22:47
with
22:47
all
22:47
of
22:47
you
22:47
and
22:48
I
22:48
think
22:48
I'm
22:48
going
22:48
to
22:48
be
22:48
the
22:48
most
22:49
skeptical
22:49
one
22:49
here.
22:50
I
22:50
mean
22:50
I,
22:50
I,
22:51
I,
22:51
I,
22:51
I
22:51
actually
22:52
question
22:52
how
22:52
much
22:53
investment
22:53
is
22:53
actually
22:53
really
22:54
even
22:54
being
22:54
put
22:54
into
22:55
solving
22:55
this
22:55
at
22:55
the
22:55
end
22:56
of
22:56
the
22:56
day
22:56
because
22:56
I
22:56
think
22:56
it's,
22:57
I
22:57
think
22:57
it's
22:58
code
22:58
for
22:58
pure
22:59
window
22:59
dressing
23:00
at
23:00
a
23:00
large
23:00
industry
23:01
conference
23:01
when
23:01
you
23:02
have
23:02
nothing
23:02
else
23:02
substantive
23:03
to
23:03
talk
23:03
about.
23:04
That's
23:04
what
23:04
I
23:04
think.
23:05
I
23:05
mean,
23:05
come
23:05
on,
23:06
you're,
23:06
the
23:06
things
23:06
you're
23:07
sell,
23:07
you're
23:07
selling
23:07
on
23:07
stage,
23:08
are
23:08
buying
23:09
into
23:09
cherries
23:09
and
23:10
bows
23:10
at
23:10
the
23:10
hot,
23:11
you
23:11
know,
23:11
around
23:11
the
23:11
holiday
23:11
season.
23:12
I
23:12
mean,
23:12
come
23:12
on,
23:12
like
23:13
that's
23:13
going
23:13
to
23:13
have
23:13
no
23:14
material
23:14
impact
23:15
on
23:15
your
23:15
business.
23:16
It's
23:16
just
23:16
what
23:16
Target
23:17
always
23:17
is
23:17
trying
23:17
to
23:17
take
23:17
credit
23:18
in
23:18
the
23:18
media
23:18
for
23:19
something
23:19
that
23:19
you
23:19
should
23:20
already
23:20
be
23:20
doing.
23:20
Anyway,
23:20
to
23:21
your
23:21
point
23:21
and
23:21
your
23:21
point
23:21
and
23:22
about,
23:22
you
23:22
know,
23:22
why
23:22
do
23:23
you
23:23
really
23:23
go
23:23
to
23:23
Target
23:23
and
23:24
Kelly
23:24
too,
23:24
like
23:25
it's
23:25
the
23:25
things
23:25
you,
23:26
you
23:26
don't
23:26
expect
23:26
to
23:27
find.
23:27
It's
23:27
not
23:27
necessarily
23:28
that
23:28
you
23:28
want
23:28
to
23:28
go
23:28
find
23:29
the
23:29
thing
23:29
that's
23:29
going
23:29
viral
23:30
on
23:30
TikTok.
23:30
It's
23:30
the
23:31
things
23:31
that
23:31
just
23:31
surprise
23:32
and
23:32
delight
23:32
you
23:32
every
23:33
single
23:33
day.
23:33
So
23:34
I
23:34
don't
23:35
know,
23:35
it's.
23:35
Once
23:35
again
23:36
we've
23:36
talked
23:36
about
23:37
the
23:37
old
23:37
adage
23:37
and
23:38
you
23:38
and
23:38
I
23:38
talk
23:39
about
23:39
this
23:39
quote
23:39
all
23:39
the
23:39
time.
23:40
Honesty
23:40
is
23:41
not
23:41
synonymous
23:41
with
23:42
truth.
23:42
From
23:42
the
23:42
Departed,
23:43
my
23:43
one
23:43
of
23:44
my
23:44
all
23:44
time
23:44
favorite
23:44
movies.
23:45
It's
23:45
not
23:45
synonymous
23:46
with
23:46
truth.
23:46
And,
23:47
and
23:47
that's,
23:47
that's
23:48
what
23:48
they're
23:48
doing
23:48
here
23:48
again.
23:49
So
23:49
I
23:49
don't
23:49
know.
23:50
I,
23:50
I'm
23:50
glad
23:51
we
23:51
all
23:51
feel
23:51
the
23:51
same
23:51
way
23:52
about
23:52
this
23:52
relatively.
23:54
All
23:54
right,
23:54
well,
23:54
let's
23:54
move
23:55
on
23:55
to
23:55
headline
23:55
number
23:56
three.
23:56
Burlington
23:57
is
23:57
taking
23:58
aim
23:58
at
23:59
Ross
23:59
stores
23:59
and
24:00
TJX
24:00
with
24:01
a
24:01
smaller
24:01
store
24:02
format.
24:02
According
24:02
to
24:03
the
24:03
Wall
24:03
Street
24:03
Journal.
24:03
Unlike
24:04
Burlington,
24:04
whose
24:05
locations
24:05
were
24:05
historically
24:06
the
24:07
size
24:07
of
24:07
department
24:08
stores,
24:08
Ross
24:09
and
24:09
TJX
24:09
brands
24:10
have
24:10
always
24:10
operated
24:11
smaller
24:11
format
24:12
stores.
24:13
Burlington's
24:13
gradual
24:14
downsizing
24:15
accelerated
24:15
under
24:15
the
24:16
leadership
24:16
of
24:16
their
24:16
current
24:17
Chief
24:17
Executive,
24:18
Michael
24:18
O'Sullivan,
24:19
who
24:19
joined
24:19
the
24:20
company
24:20
in
24:20
2019
24:21
after
24:21
16
24:22
years
24:22
at
24:22
Ross,
24:23
where
24:23
he
24:23
ended
24:24
his
24:24
tenure
24:24
as
24:25
president
24:25
and
24:25
chief
24:26
Operating
24:26
officer
24:27
Burlington,
24:28
which
24:28
has
24:28
1103
24:30
stores
24:30
today,
24:31
plans
24:31
to
24:31
open
24:31
about
24:32
100
24:32
net
24:33
new
24:33
locations
24:34
and
24:34
relocate
24:35
a
24:35
couple
24:35
dozen
24:36
annually
24:37
through
24:37
2029.
24:39
The
24:39
company
24:39
believes
24:39
it
24:40
will
24:40
eventually
24:41
grow
24:41
to
24:41
2,000
24:42
total
24:42
stores.
24:43
O'Sullivan
24:43
said.
24:44
John,
24:45
one
24:45
more
24:46
time
24:46
right
24:47
to
24:47
you.
24:47
Does
24:47
the
24:48
American
24:48
consumer
24:49
need
24:49
more
24:50
smaller
24:50
format
24:51
Burlington
24:51
stores?
24:53
Yeah,
24:54
I'll,
24:54
I'll
24:55
give
24:55
my
24:55
kind
24:55
of
24:55
quick
24:56
pitch
24:56
and
24:56
I
24:56
think
24:56
Kelly
24:57
will
24:57
probably
24:57
have
24:57
a
24:58
bigger
24:58
perspective
24:58
here
24:58
as
24:58
well.
24:59
But
24:59
my,
24:59
my
25:00
feeling
25:00
is
25:01
yes,
25:02
I
25:02
think
25:02
Burlington
25:03
is,
25:04
is
25:05
like
25:05
they're,
25:06
they
25:06
have
25:06
consecutive
25:07
quarters
25:07
of
25:08
double
25:08
digit
25:08
growth.
25:09
So
25:09
like
25:09
they
25:09
are
25:10
really
25:10
moving
25:11
forward
25:11
in
25:11
this
25:11
trend
25:12
of
25:12
like
25:12
off,
25:13
off
25:13
price
25:14
fashion.
25:15
The
25:15
other
25:15
thing
25:16
that
25:16
I,
25:16
that
25:16
really
25:17
drew
25:17
me
25:17
to
25:17
this
25:17
is,
25:18
and
25:18
it's
25:18
a
25:18
little
25:18
bit
25:19
linked
25:19
to
25:19
our
25:19
conversation
25:19
with
25:19
Target
25:20
previously
25:20
is
25:21
no,
25:21
what
25:22
do
25:22
great
25:23
retailers
25:24
do
25:24
consistently
25:25
that
25:25
bad
25:25
retailers
25:26
are
25:26
like,
25:27
don't
25:27
do?
25:28
And
25:28
that
25:29
is
25:29
turn
25:29
inventory.
25:30
And
25:30
Burlington
25:31
turn
25:32
inventory.
25:32
And
25:32
a
25:32
smaller
25:33
format
25:34
for
25:35
me
25:35
will
25:35
only
25:35
accelerate
25:36
how
25:36
good
25:36
they
25:36
are
25:37
at
25:37
that
25:37
already
25:38
because
25:38
they
25:38
know
25:38
what
25:38
they
25:38
need
25:39
to
25:39
do.
25:39
They
25:39
don't
25:39
need
25:39
to
25:40
stuff
25:40
stores
25:40
with,
25:41
with
25:41
products
25:41
that
25:41
people
25:42
don't
25:42
need.
25:42
They
25:42
don't
25:42
need
25:42
to
25:42
buy
25:43
inventory.
25:44
And
25:44
I
25:44
think
25:44
it's
25:45
going
25:45
to
25:45
accelerate
25:45
their
25:45
turns.
25:46
That's
25:46
my
25:46
first
25:46
kind
25:47
of
25:47
thought
25:47
when
25:47
I
25:47
looked
25:47
at
25:47
this.
25:48
The
25:48
other
25:48
thing
25:49
is
25:49
that
25:49
we
25:49
see
25:49
consumers
25:51
enjoy
25:51
smaller
25:51
stores
25:52
now.
25:52
They
25:53
prefer
25:53
a
25:53
smaller
25:54
convenience
25:54
store
25:54
they
25:55
get
25:55
in
25:55
and
25:55
out
25:55
of
25:56
and
25:56
you
25:56
can
25:56
still
25:56
have
25:56
a
25:57
aspect
25:58
to
25:58
that
25:58
without
25:59
then
25:59
needing
25:59
a
26:00
department
26:00
store
26:00
site.
26:01
So,
26:01
so
26:01
for
26:01
me
26:01
I
26:01
see
26:02
like
26:02
literally
26:03
zero
26:03
downside
26:04
to
26:04
this
26:04
for
26:04
Burlington.
26:05
I
26:05
think
26:05
it's
26:06
a
26:06
smart
26:06
play.
26:06
I
26:06
think
26:07
it's
26:07
going
26:07
to
26:07
financially
26:08
make
26:08
sense.
26:08
It
26:08
also
26:09
it's
26:09
them
26:09
listening
26:09
to
26:10
their
26:10
customers.
26:11
And
26:11
so
26:11
I
26:11
would
26:12
kind
26:12
of
26:12
be
26:12
really
26:12
interested
26:12
to
26:13
see
26:13
the
26:13
impact
26:13
because
26:13
I
26:13
don't
26:14
see
26:14
a
26:14
negative.
26:15
Yeah,
26:15
I
26:15
agree
26:16
with
26:16
you,
26:16
Kelly.
26:16
Where
26:17
do
26:17
you
26:17
land
26:17
on
26:17
this
26:17
one?
26:18
Are
26:18
you
26:18
thinking
26:18
that
26:19
the
26:19
smaller
26:19
store
26:19
format
26:20
is
26:20
the
26:20
way
26:20
to
26:20
go?
26:22
I,
26:22
I
26:22
do
26:23
think
26:23
the
26:23
smaller
26:23
store
26:24
format
26:24
is
26:24
a
26:24
good
26:24
way
26:25
to
26:25
go
26:25
for
26:25
them.
26:25
And
26:26
in
26:26
particular
26:27
looking
26:28
at
26:28
the
26:28
types
26:29
of
26:29
real
26:29
estate
26:29
that
26:30
they're
26:30
moving
26:30
into,
26:30
it's,
26:31
it's
26:31
not
26:31
just
26:31
smaller
26:32
format
26:32
but
26:32
I
26:32
think
26:33
they
26:33
mentioned,
26:34
you
26:34
know,
26:34
former
26:34
Big
26:35
Lots,
26:35
former
26:35
Bed
26:36
Bath
26:36
and
26:36
Beyond.
26:37
So
26:37
they're
26:37
moving
26:38
into
26:38
these
26:38
spaces
26:39
where
26:39
people
26:40
are,
26:40
you
26:41
know,
26:41
it's
26:41
a
26:41
likely
26:42
the
26:42
demographic
26:42
they're
26:43
looking
26:43
for
26:44
Bed
26:44
Bath
26:44
beyond,
26:45
they
26:45
have
26:45
HomeGoods.
26:46
So
26:47
people
26:47
are
26:47
looking
26:47
for
26:48
this
26:48
broader
26:48
assortment
26:49
which
26:49
has
26:49
also
26:50
been
26:50
a
26:50
big
26:50
effort
26:51
of
26:51
theirs
26:51
over
26:51
the
26:51
last
26:52
few
26:52
years
26:52
to
26:53
ditch
26:54
the
26:54
coats
26:54
only
26:55
merchandising,
26:57
branding.
26:58
And
26:59
I
26:59
was
26:59
really
26:59
surprised
27:00
to
27:00
Find
27:01
out
27:01
coats
27:01
are
27:02
only
27:02
about
27:02
5%
27:03
of
27:03
their
27:04
sales
27:04
nowadays.
27:05
Which,
27:05
yeah,
27:06
surprised
27:06
me.
27:06
I
27:07
didn't
27:07
know.
27:07
But
27:08
I,
27:08
I
27:08
do
27:08
think
27:09
smaller
27:09
format,
27:10
the
27:10
locations
27:10
they're
27:10
choosing
27:11
will
27:11
be
27:11
good
27:11
for
27:11
them.
27:13
And
27:13
I
27:13
just
27:13
agree.
27:14
I
27:14
think
27:14
that
27:14
discovery
27:15
and
27:15
kind
27:16
of
27:16
treasure
27:16
hunt
27:18
aspect
27:18
that
27:18
they're
27:19
looking
27:19
to
27:19
bring
27:20
and
27:20
emulate
27:20
like
27:21
the
27:21
other
27:21
off
27:21
pricers
27:22
can
27:22
be
27:23
really
27:23
overwhelming
27:23
in
27:24
a
27:24
big
27:24
space.
27:24
You
27:25
know,
27:25
there's
27:26
stuff
27:26
everywhere.
27:27
You
27:27
don't
27:28
know.
27:28
Are
27:28
you
27:28
taking
27:29
the
27:29
store
27:29
quadrant
27:30
by
27:30
quadrant?
27:30
So
27:31
that
27:31
smaller
27:32
format
27:32
is
27:32
just
27:33
giving
27:33
you
27:33
a
27:33
tighter
27:33
space
27:34
to
27:34
actually
27:35
find
27:35
things
27:36
to
27:36
buy.
27:36
So
27:36
I'm
27:37
excited
27:37
to
27:37
see
27:37
where
27:37
this
27:38
goes.
27:38
Right.
27:39
And
27:39
to,
27:39
to
27:40
John's
27:40
point
27:40
too.
27:41
I
27:41
think
27:41
it
27:41
up
27:41
allows
27:42
you
27:42
to
27:42
update
27:42
the
27:42
inventory
27:43
more
27:43
frequently,
27:43
giving
27:44
people
27:44
a
27:44
reason
27:44
to
27:45
come
27:45
back
27:45
time
27:46
and
27:46
time
27:46
again.
27:46
Maybe
27:47
more
27:47
frequently
27:48
than
27:48
just
27:48
going
27:49
to
27:49
buy
27:49
the
27:49
coats
27:50
for,
27:50
you
27:50
know,
27:51
winter
27:51
time
27:51
or
27:52
back
27:52
to
27:52
school
27:53
stuff
27:53
or
27:53
like
27:53
those
27:54
key
27:54
moments
27:54
where
27:55
you
27:55
might
27:55
go
27:55
in
27:55
there.
27:56
Now
27:56
it's
27:56
kind
27:57
of
27:57
getting
27:57
more
27:57
of
27:57
that
27:58
cachet
27:58
that
27:58
TJX
27:59
and
27:59
Ross
28:00
have
28:00
too.
28:01
Chris,
28:01
what
28:01
about
28:02
you?
28:02
What
28:02
do
28:02
you
28:02
think
28:02
about
28:03
this?
28:03
Are
28:03
you
28:04
ro
28:04
going
28:05
small
28:05
format?
28:06
Well,
28:07
I
28:07
gotta
28:07
tell
28:07
you
28:07
guys,
28:08
with
28:08
all
28:08
respect,
28:09
I.
28:10
With
28:10
all.
28:10
To
28:10
all
28:10
three
28:11
of
28:11
you,
28:11
I
28:11
100%
28:13
agree
28:13
with
28:14
you.
28:14
I
28:14
100
28:15
agree
28:15
with
28:15
all
28:15
of
28:16
you.
28:16
You're
28:16
trying
28:16
to.
28:17
I
28:17
think
28:18
I
28:18
was
28:18
trying
28:18
to
28:18
trick
28:18
you.
28:19
Yes,
28:19
I
28:19
think,
28:19
I
28:19
think
28:20
it's
28:20
a
28:20
great
28:20
move.
28:21
And
28:21
the
28:21
reason
28:21
I
28:21
would
28:21
call
28:22
it
28:22
similar
28:22
to
28:22
what
28:23
everyone
28:23
was
28:23
saying,
28:23
but
28:24
the
28:24
one
28:24
point
28:25
I
28:25
would
28:25
make
28:25
here
28:25
would
28:25
be
28:26
the
28:26
macroeconomic
28:27
tailwind
28:27
is
28:27
at
28:27
their
28:27
back
28:28
in
28:28
terms
28:28
of,
28:29
of
28:29
how
28:30
people
28:30
are
28:30
shopping.
28:31
People
28:32
are
28:32
showing
28:32
a
28:32
propensity
28:33
to.
28:33
We
28:34
just
28:34
had
28:34
placer
28:35
on
28:35
our.
28:35
We
28:35
just
28:36
interviewed
28:36
Placers
28:36
Ethan
28:37
Chernofsky
28:37
yesterday
28:37
for
28:38
an
28:38
upcoming
28:38
webinar
28:38
and
28:39
he
28:39
told
28:39
us
28:39
about
28:39
how
28:40
people
28:40
are
28:40
willing
28:40
to
28:41
make
28:41
extra
28:41
trips
28:42
to
28:42
stores
28:43
where
28:43
they
28:44
can
28:44
find
28:44
products
28:44
they
28:44
can't
28:45
find
28:45
anywhere
28:45
else.
28:45
And
28:45
that's
28:45
what
28:46
the
28:46
treasure
28:46
hunt's
28:46
all
28:46
about.
28:47
So,
28:47
you
28:47
know,
28:47
I
28:48
think
28:48
similar
28:48
to
28:49
what
28:49
we've
28:49
seen
28:49
in
28:50
terms
28:50
of
28:50
success
28:50
with
28:51
Sprouts
28:51
and
28:51
Trader
28:52
Joe's,
28:52
getting
28:53
that
28:53
extra
28:54
trip
28:54
in
28:54
the
28:55
grocery
28:55
space,
28:56
O'Sullivan
28:57
appears
28:57
to
28:57
have
28:57
found
28:58
a
28:58
smaller
28:58
footprint
28:59
that
28:59
he
29:00
thinks
29:00
works
29:01
in
29:01
that
29:01
same
29:01
vein
29:02
to
29:02
get
29:02
that
29:02
extra
29:03
trip
29:03
from
29:03
people
29:03
and
29:04
is
29:04
scaling
29:04
the
29:04
prototype.
29:05
So
29:05
like
29:05
we
29:05
talked
29:06
about
29:06
in
29:06
the
29:06
last
29:06
headline,
29:06
this
29:07
is
29:07
just
29:07
good
29:08
merchandising.
29:09
And
29:09
so,
29:09
yeah,
29:10
I
29:10
mean,
29:10
ultimately
29:10
I
29:10
think
29:11
it's
29:11
going
29:11
to
29:11
work.
29:12
Yeah,
29:12
I
29:12
mean
29:12
it's
29:13
the.
29:13
If
29:13
you
29:13
look
29:14
at
29:14
some
29:14
of
29:14
the
29:14
images
29:15
of
29:15
some
29:15
of
29:15
these
29:15
prototype
29:16
stores,
29:16
they
29:16
look
29:17
better.
29:17
They
29:17
look
29:18
More
29:18
inviting,
29:18
they're
29:19
more
29:19
organized.
29:20
Like,
29:20
the
29:20
whole
29:20
shopping
29:21
experience
29:21
is
29:22
so
29:22
much
29:22
better
29:23
for
29:23
this
29:23
off
29:23
price
29:23
shopper,
29:24
which
29:24
I
29:24
think
29:25
is,
29:25
you
29:25
know,
29:26
just
29:26
to
29:26
close
29:26
with,
29:27
again,
29:27
Kelly's
29:27
point
29:28
of
29:28
people
29:29
are
29:29
going
29:29
back
29:29
to
29:30
these
29:30
spaces
29:30
where
29:30
they
29:30
expected
29:31
to
29:31
see
29:31
Bed,
29:31
Bath
29:32
and
29:32
Beyond.
29:32
And
29:32
it's
29:33
almost
29:33
like
29:33
they're
29:33
rediscovering
29:34
Burlington
29:35
in
29:35
these
29:35
same
29:36
environments.
29:36
Like,
29:36
I
29:36
didn't
29:37
know
29:37
Burlington
29:37
had
29:38
home
29:38
goods.
29:38
Like,
29:38
and.
29:39
But
29:39
you're
29:39
going
29:40
in
29:40
there
29:40
with
29:40
a
29:41
similar
29:41
visual
29:42
shopping
29:42
experience.
29:42
And
29:43
I
29:43
imagine
29:43
that
29:43
the
29:43
savings
29:44
that
29:44
they're
29:44
getting
29:44
from
29:45
consolidating
29:46
real
29:46
estate
29:46
will
29:47
help
29:47
them
29:47
continue
29:48
to
29:48
expand
29:49
that
29:49
and
29:49
roll
29:50
that
29:50
out
29:50
to
29:50
newer
29:50
stores.
29:51
Yeah,
29:52
great
29:52
point.
29:53
And
29:53
the
29:53
other
29:53
trend
29:53
that's
29:53
happening
29:54
here
29:54
is
29:54
people
29:54
are
29:54
more.
29:55
More
29:55
and
29:55
more
29:55
people
29:55
are
29:55
shopping
29:56
off
29:56
price
29:56
retailers.
29:57
Right.
29:57
That's
29:57
another
29:57
macroeconomic
29:58
trend
29:58
that's
29:58
happening.
29:59
And
29:59
so
30:00
there's
30:00
probably
30:00
room
30:01
for
30:01
a
30:01
new
30:01
entrant
30:01
in
30:02
this
30:02
space
30:02
too,
30:03
if
30:04
not
30:04
a
30:04
new
30:04
entrant,
30:04
but
30:05
a
30:05
more
30:05
substantial
30:08
determination
30:09
to
30:09
go
30:09
after
30:10
that
30:10
business,
30:10
I
30:10
think,
30:11
you
30:11
know,
30:11
to
30:11
be
30:11
that
30:12
third
30:12
or
30:12
even
30:12
that
30:13
second
30:13
or
30:13
first
30:13
player
30:14
over
30:14
the
30:14
long
30:14
run.
30:14
One
30:15
final
30:15
point
30:15
on
30:15
this,
30:15
I
30:15
think
30:16
to
30:16
give
30:16
Burlington
30:17
some
30:17
more
30:17
props
30:17
is
30:17
kind
30:18
of.
30:18
It's
30:18
a
30:18
really
30:18
good
30:19
example
30:19
of
30:19
them
30:20
witnessing
30:21
things
30:21
happening
30:22
in
30:22
a
30:22
macro
30:23
retail
30:23
environment
30:23
that
30:24
they
30:24
can
30:24
take
30:24
advantage
30:25
of.
30:25
Right.
30:25
So
30:25
we
30:25
mentioned
30:26
they're
30:26
taking
30:26
Bed
30:27
Bath,
30:27
big
30:27
lot
30:28
stores,
30:28
so
30:28
they
30:28
see
30:29
that
30:29
there's
30:29
real
30:30
estate
30:30
they
30:30
wouldn't
30:30
have
30:30
normally
30:31
gotten
30:31
access
30:31
to.
30:32
And
30:32
then
30:32
they've
30:32
thought,
30:32
well,
30:32
actually
30:33
we
30:33
already.
30:34
We
30:34
also
30:34
think
30:34
we
30:34
can
30:35
be
30:35
a
30:35
consumer
30:35
centric,
30:36
make
30:36
a
30:36
consumer
30:37
centric
30:37
decision
30:37
that
30:38
takes
30:38
advantage
30:38
of
30:38
that
30:39
opportunity.
30:40
So
30:40
it
30:40
actually
30:40
kind
30:41
of
30:41
satisfies
30:41
two
30:42
needs
30:42
at
30:42
the
30:42
same
30:42
time.
30:43
It's
30:43
really,
30:43
really
30:43
clever
30:44
play,
30:44
I
30:44
think
30:44
overall
30:45
from
30:45
them
30:45
then.
30:46
Yeah,
30:46
100.
30:47
Yeah.
30:47
And
30:47
for
30:47
all
30:47
those
30:47
retail
30:48
executives
30:48
out
30:48
there,
30:48
the
30:48
one
30:49
thing
30:49
I've
30:49
Learned
30:49
in
30:49
my
30:49
25
30:50
years
30:50
of
30:50
covering
30:50
retail
30:51
now
30:51
is
30:51
I'd
30:52
rather
30:52
work
30:52
for
30:52
a
30:52
company
30:53
that's
30:53
pushing,
30:53
going
30:54
with
30:54
water
30:54
downhill
30:55
than
30:55
trying
30:55
to
30:55
push
30:56
water
30:56
uphill.
30:57
Right.
30:57
You
30:57
know,
30:57
and
30:58
the
30:58
company
30:58
is
30:58
pushing
30:59
water
30:59
uphill,
30:59
like
30:59
Macy's,
31:00
et
31:00
cetera.
31:01
It's
31:01
a
31:01
tough
31:01
game.
31:02
All
31:02
right,
31:02
Headline
31:02
number
31:03
four.
31:03
Sephora
31:04
plans
31:04
to
31:04
redesign
31:05
its
31:05
entire
31:05
North
31:06
American
31:06
store
31:07
fleet
31:07
according
31:08
to
31:08
retail
31:08
Dive.
31:09
Sephora
31:09
is
31:09
in
31:09
the
31:10
middle
31:10
of
31:10
the
31:10
largest
31:11
capital
31:12
project
31:12
in
31:12
its
31:13
history
31:14
wherein
31:14
it
31:15
is
31:15
redesigning
31:16
every
31:16
store
31:16
in
31:16
its
31:17
North
31:17
American
31:17
fleet.
31:18
Artemis
31:19
Patrick,
31:19
president
31:20
and
31:20
CEO
31:20
of
31:20
North
31:21
America,
31:21
told
31:21
an
31:21
audience
31:22
at
31:22
the
31:22
National
31:23
Retail
31:23
Federation's
31:23
big
31:24
Show
31:24
conference
31:24
on
31:25
Monday
31:26
of
31:26
this
31:26
past
31:26
week.
31:27
Some
31:27
stores
31:28
will,
31:28
quote,
31:29
get
31:29
major
31:29
redesigns
31:30
and
31:30
some
31:31
will
31:31
get
31:31
Minor
31:32
Patrick
31:32
said
31:33
of
31:33
the
31:33
project,
31:33
which
31:34
launched
31:34
last
31:35
fall.
31:35
The
31:35
beauty
31:36
retailer
31:36
has
31:36
over
31:37
700
31:37
stores
31:38
in
31:38
North
31:38
America.
31:39
Sephora
31:40
has
31:40
brought
31:41
changes
31:41
like
31:41
modular
31:42
fixturing
31:42
and
31:43
new
31:43
checkout
31:44
pathing
31:44
to
31:45
111
31:46
of
31:46
those
31:46
stores
31:47
over
31:47
the
31:47
past
31:47
few
31:48
months.
31:48
And
31:49
as
31:49
a
31:49
result,
31:49
key
31:49
performance
31:50
indicators
31:51
like
31:51
transactions,
31:51
productivity
31:52
and
31:52
sales
31:53
are
31:53
all
31:53
up
31:54
when
31:54
compared
31:55
to
31:55
the
31:55
control
31:55
group.
31:56
Kelly,
31:58
what
31:58
do
31:58
you
31:58
find
31:58
most
31:59
intriguing
31:59
about
32:00
Sephora's
32:00
plan
32:01
to
32:01
renovate
32:01
its
32:01
stores
32:02
as
32:02
part
32:02
of
32:02
what
32:02
retail
32:03
Dive
32:03
calls
32:03
its
32:04
quote,
32:04
largest
32:05
capital
32:05
project
32:06
in
32:06
its
32:06
history.
32:07
Yeah,
32:08
lots
32:08
of
32:08
big
32:09
headlines
32:09
dropping
32:10
at
32:10
NRF
32:11
big
32:11
show
32:12
last
32:12
week.
32:14
You
32:14
know,
32:14
I
32:14
think
32:14
the
32:14
thing
32:15
that
32:15
was
32:15
most
32:15
interesting
32:16
to
32:16
me
32:16
about
32:17
this,
32:18
you
32:18
mentioned
32:18
it,
32:19
Chris
32:19
and
32:19
Artemis
32:20
Patrick
32:20
talks
32:21
a
32:21
little
32:21
bit
32:21
more
32:21
about
32:21
it
32:22
in,
32:22
in
32:23
the
32:23
the
32:23
article,
32:23
but
32:24
she
32:25
cited
32:25
one
32:25
of
32:25
the
32:26
leading
32:26
factors
32:27
of
32:27
the
32:27
redesign
32:28
in
32:29
effectively
32:30
making
32:30
a
32:30
more
32:31
affordable
32:32
fixture
32:33
structure
32:34
for
32:34
their
32:34
brand
32:35
partners.
32:36
That
32:36
was
32:36
kind
32:36
of
32:36
one
32:36
of
32:37
the
32:37
the
32:37
leading
32:37
things.
32:38
She
32:38
said.
32:38
We're
32:39
not
32:39
a
32:39
cheap
32:39
date
32:40
to
32:40
sell
32:41
in
32:41
Sephora.
32:41
We
32:42
don't
32:42
want
32:42
our
32:42
partners
32:43
building
32:43
these
32:43
expensive
32:44
fixtures
32:44
that,
32:45
you
32:45
know,
32:45
the
32:45
deal
32:46
doesn't
32:46
work
32:46
out
32:46
and,
32:47
and
32:47
they
32:47
don't
32:48
see
32:48
the,
32:48
the
32:49
full
32:49
benefit.
32:50
So
32:50
this
32:50
was
32:51
super
32:51
interesting
32:52
to
32:52
me
32:52
for
32:53
two
32:53
different
32:54
reasons.
32:55
The
32:55
first
32:56
is
32:56
the
32:57
tone
32:57
and
32:57
tenor
32:58
of
32:58
it
32:58
is
32:58
very
32:58
different
32:59
from
33:00
what
33:00
we
33:00
see
33:00
from
33:01
Sephora
33:01
typically.
33:03
So
33:03
internationally
33:04
they
33:05
2023,
33:06
2024
33:07
were
33:07
years
33:08
spent
33:08
doing
33:08
huge
33:09
reinvestment
33:09
on
33:09
their
33:10
flagships,
33:11
taking
33:12
historical
33:13
buildings,
33:14
renovating
33:14
it
33:14
as
33:15
a
33:15
very
33:15
kind
33:15
of
33:15
luxury
33:16
experience
33:17
and
33:17
leading
33:18
with
33:18
this
33:19
cost
33:19
play
33:21
just
33:21
sounds
33:22
and
33:22
feels
33:22
a
33:22
little
33:22
bit
33:23
different
33:23
from
33:23
what
33:23
we
33:23
see
33:24
in
33:24
the
33:24
international
33:25
markets.
33:26
And
33:27
then
33:27
additionally
33:28
it
33:28
to
33:29
me
33:29
kind
33:29
of
33:29
suggests
33:30
a
33:30
bit
33:30
of
33:31
a
33:31
shifting
33:32
power
33:32
dynamic
33:33
between
33:34
Sephora
33:34
and
33:34
its
33:35
brand
33:35
partners.
33:37
Having
33:37
spent
33:38
a
33:38
lot
33:38
of
33:38
time
33:39
more
33:39
on
33:39
the
33:39
manufacturing
33:40
side
33:40
of
33:40
the
33:40
beauty
33:41
business,
33:41
you
33:41
know,
33:42
you'll
33:43
do
33:43
what
33:43
you
33:43
gotta
33:44
do
33:44
to,
33:44
to
33:44
get
33:45
placement
33:45
in
33:45
Sephora
33:46
and
33:47
typically
33:47
there's,
33:48
you
33:49
know,
33:49
they
33:49
have
33:49
the
33:49
upper
33:50
hand
33:50
in
33:50
those
33:50
negotiations.
33:51
It's
33:52
more
33:52
expensive,
33:52
but
33:52
you
33:52
need
33:53
to
33:53
be
33:53
there
33:53
and
33:53
they
33:54
have
33:54
the
33:54
market
33:54
share.
33:55
So
33:55
to
33:55
hear
33:56
them
33:56
really
33:57
being
33:57
proactive
33:58
about
33:58
how
33:59
to
33:59
make
33:59
the
33:59
experience
34:00
more
34:00
affordable
34:00
for
34:01
their
34:01
brand
34:01
partners
34:02
just
34:02
kind
34:03
of
34:03
signals
34:03
to
34:03
me
34:04
that
34:04
they're
34:04
thinking
34:05
ahead
34:05
about
34:06
where
34:07
the
34:07
retail
34:08
market
34:08
might
34:08
be
34:08
going
34:09
in
34:09
the
34:09
US
34:10
And
34:11
Ulta
34:11
hasn't
34:11
seen,
34:12
you
34:12
know,
34:13
a
34:13
great
34:13
couple
34:14
quarters
34:14
in
34:14
the
34:14
last
34:15
few
34:15
quarters.
34:15
But,
34:16
you
34:16
know,
34:16
are
34:16
there
34:17
other
34:17
tides
34:17
that
34:17
they're
34:18
concerned
34:18
about
34:18
whether
34:19
it's
34:19
E
34:19
Comm.
34:19
Where
34:20
they're
34:20
trying
34:21
to
34:21
shift
34:21
some
34:22
more
34:22
attention
34:22
to
34:22
their
34:23
brand
34:23
partners?
34:23
So
34:24
I
34:24
thought
34:24
that
34:24
was
34:24
really
34:25
interesting
34:25
and
34:26
there
34:26
are
34:26
a
34:26
lot
34:26
of
34:26
other
34:27
Great
34:27
things
34:27
that
34:28
they're
34:28
doing,
34:28
which
34:29
just
34:29
seemed
34:29
like
34:29
smart
34:30
retailing
34:31
to
34:31
me
34:31
from
34:32
store
34:32
of
34:32
the
34:32
future,
34:33
really
34:33
making
34:33
a
34:34
metrics
34:35
based
34:35
approach
34:35
to
34:36
the
34:36
redesign.
34:37
So
34:37
I
34:37
think
34:37
there's
34:38
more
34:38
to
34:38
it
34:38
than
34:38
just
34:39
this
34:39
kind
34:40
of
34:40
brand
34:40
cosplay.
34:41
But
34:41
that
34:41
was
34:41
what
34:42
really
34:42
stood
34:42
out
34:42
to
34:42
me.
34:43
Yeah,
34:44
that's
34:44
really
34:44
interesting.
34:44
I
34:45
never
34:45
thought
34:45
about
34:45
that.
34:45
You
34:45
know,
34:46
is
34:46
it,
34:46
is
34:46
this
34:46
kind
34:47
of
34:47
an
34:47
attempt
34:47
to,
34:47
you
34:48
know,
34:48
keep
34:48
the
34:48
cachet,
34:49
make
34:49
it
34:49
easier
34:49
for
34:50
the
34:50
brands
34:50
to
34:50
come
34:50
into
34:51
the
34:51
stores
34:51
and
34:52
elevate
34:52
the
34:52
experience
34:52
and
34:53
play
34:53
up
34:53
on
34:53
the
34:54
brands
34:54
that
34:54
you
34:54
really
34:55
want
34:55
expect
34:55
to
34:55
get
34:56
from
34:56
Sephora.
34:57
And
34:57
what
34:57
do
34:57
you
34:58
think?
34:59
I
34:59
mean,
35:00
I
35:00
love
35:01
Kelly's
35:01
points.
35:02
I
35:02
hadn't
35:02
thought
35:02
about
35:02
those.
35:03
For
35:03
me,
35:03
this
35:03
was
35:04
a
35:04
strictly
35:04
operational
35:05
Play.
35:05
Like
35:06
number
35:06
one,
35:07
there
35:07
is
35:07
100%
35:08
benefit
35:08
to
35:09
making
35:09
your
35:09
fixtures
35:09
flexible.
35:10
Especially
35:10
in
35:11
a
35:11
space
35:11
like
35:11
Sephora
35:12
where
35:12
they're
35:13
getting
35:13
people
35:13
to
35:13
come
35:14
in
35:14
there,
35:14
they
35:14
want
35:15
to
35:15
make
35:15
sure
35:15
that
35:16
people,
35:16
they
35:16
can
35:16
do
35:17
events
35:17
in
35:17
there.
35:17
When
35:18
there's
35:18
a
35:18
new
35:18
beauty
35:19
brand
35:19
launch,
35:19
they're
35:19
bringing
35:20
in
35:20
a
35:20
new
35:20
brand.
35:21
Like
35:21
the
35:22
flexibility
35:23
of
35:23
this
35:23
fixturing
35:24
that
35:24
Artemis
35:25
was
35:25
talking
35:25
about
35:25
I
35:25
think
35:26
is
35:26
going
35:26
to
35:26
be
35:26
critical
35:27
to
35:27
them
35:27
being
35:28
able
35:28
to
35:28
convert
35:29
that
35:29
store
35:30
to
35:30
work
35:30
as
35:31
hard
35:31
as
35:31
possible
35:32
as
35:32
needed
35:33
on
35:34
weekends,
35:35
you
35:35
know,
35:35
for
35:35
big
35:36
launch
35:36
events.
35:36
I
35:36
think
35:37
that's,
35:37
that's
35:38
where
35:38
the
35:38
real
35:38
trouble
35:39
is
35:39
right
35:39
now.
35:39
But
35:40
for
35:40
me,
35:40
the
35:41
best
35:41
thing
35:41
about
35:41
this
35:42
whole
35:42
thing,
35:42
I
35:43
love
35:43
Sephora.
35:44
I
35:44
love
35:44
the
35:44
associate
35:45
help
35:45
there.
35:45
I
35:46
hate
35:46
the
35:46
line.
35:47
Sometimes
35:47
I've
35:47
had
35:47
to
35:47
even
35:48
leave
35:48
because
35:48
you
35:49
have
35:49
this
35:49
younger
35:49
demographic
35:50
that's
35:50
coming
35:51
in.
35:51
They're
35:51
each
35:51
paying
35:52
their,
35:52
you
35:52
know,
35:52
their
35:53
s
35:53
a
35:53
crew
35:53
of
35:54
six
35:54
people
35:54
and
35:55
they're
35:55
each
35:55
paying
35:55
individually.
35:56
Like
35:56
it's
35:56
taking
35:57
too
35:57
long.
35:57
And
35:58
so
35:58
for
35:58
me,
35:58
I
35:59
think
35:59
the
35:59
key
35:59
item
36:00
in
36:00
this
36:00
article
36:00
is
36:00
that
36:01
only
36:01
25%
36:02
of
36:02
transactions
36:02
are
36:03
happening
36:03
on
36:03
mobile
36:03
devices
36:04
with
36:04
the
36:04
associates
36:05
right
36:05
now.
36:05
And
36:06
I
36:06
think
36:06
if
36:06
you
36:07
start
36:07
to
36:07
enable
36:07
every
36:08
associate,
36:08
every
36:09
transaction,
36:09
if
36:10
I
36:10
just
36:10
want
36:10
to
36:10
get
36:10
out
36:11
and
36:11
get
36:11
that
36:11
thing
36:11
that
36:11
you
36:12
helped
36:12
me
36:12
find,
36:12
I
36:13
think
36:13
we're
36:13
going
36:13
to
36:13
start
36:13
to
36:13
see
36:14
significant
36:14
increases
36:15
in,
36:16
in
36:16
transactions
36:16
and
36:17
basket
36:17
sizes
36:17
once
36:18
they
36:18
enable
36:18
that,
36:19
you
36:19
know,
36:19
for
36:20
all
36:20
the
36:20
associates
36:21
and
36:21
you
36:21
can
36:21
kind
36:21
of
36:21
skip
36:21
that
36:22
snake
36:22
if
36:22
you're
36:22
just
36:23
kind
36:23
of
36:23
snake
36:23
line
36:24
if
36:24
you're
36:24
just
36:24
trying
36:24
to
36:25
come
36:25
in
36:25
and
36:25
get
36:25
something
36:25
quickly.
36:26
So
36:26
I,
36:27
I
36:27
think
36:27
smart
36:28
operational
36:29
decisions
36:29
here
36:29
for
36:30
Sephora
36:30
that
36:30
are
36:30
going
36:31
to
36:31
continue
36:31
to
36:31
pay
36:31
dividends
36:32
in
36:32
the
36:32
long
36:32
run.
36:33
Yeah,
36:34
that
36:34
was
36:34
what
36:34
the
36:34
article
36:35
highlighted
36:35
for
36:35
me
36:36
that
36:36
was
36:36
most
36:36
interesting
36:36
too
36:37
was
36:37
how
36:37
they're
36:37
thinking
36:37
about
36:38
checkout
36:38
and
36:38
it
36:39
was
36:39
very
36:39
light
36:39
on
36:39
the
36:39
details
36:40
in
36:40
There.
36:40
But
36:41
I
36:41
think
36:41
you're
36:41
hitting
36:41
on
36:41
points
36:42
that,
36:42
you
36:42
know,
36:43
especially
36:43
when
36:43
you
36:43
talk
36:43
modular
36:44
fixturing,
36:44
you
36:45
could,
36:45
you
36:45
could
36:45
apply
36:45
modular,
36:46
modular
36:47
setup
36:47
designs
36:48
to
36:48
your
36:48
checkout
36:48
process
36:49
too.
36:49
So
36:49
you
36:49
can
36:49
scale
36:49
it
36:50
up,
36:50
scale
36:50
it
36:50
down
36:50
across
36:51
the
36:51
seasons.
36:51
You
36:51
know,
36:51
lots
36:52
of
36:52
different
36:52
ways
36:52
you
36:52
could
36:52
do
36:52
this.
36:53
Mobile
36:53
enabled.
36:54
John,
36:54
what
36:54
do
36:54
you
36:54
think
36:54
though?
36:55
Any
36:55
final
36:55
words
36:56
here?
36:57
Yeah,
36:57
I
36:57
mean,
36:57
my
36:58
first
36:58
thought
36:58
is
36:59
I
36:59
think
36:59
this
36:59
is
36:59
a
36:59
great
37:00
example
37:00
of
37:00
the
37:00
kind
37:01
of
37:01
benefits
37:01
of
37:01
CRG
37:02
because
37:02
Kelly
37:02
had
37:02
a
37:03
totally
37:03
different
37:03
perspective
37:03
than
37:04
I
37:04
have.
37:06
She's
37:06
got
37:06
obviously
37:07
way
37:07
more
37:07
detail
37:07
and
37:08
understanding
37:08
and
37:08
the
37:08
points
37:08
that
37:09
she
37:09
made
37:09
around
37:10
the
37:10
dynamic
37:10
between
37:11
Sephora
37:11
and
37:11
the
37:11
brands
37:11
is
37:12
something
37:12
I
37:12
never
37:12
thought
37:12
about.
37:13
But
37:13
actually
37:13
I
37:13
think
37:13
now
37:14
looking
37:14
through
37:14
the
37:15
information
37:15
with
37:15
that
37:15
lens,
37:16
it
37:16
kind
37:16
of
37:16
makes
37:16
a
37:16
bit
37:16
more,
37:17
more
37:17
sense
37:17
to
37:17
me
37:18
because
37:18
honestly,
37:18
when
37:19
I
37:19
was
37:19
looking
37:19
at
37:19
it,
37:20
I,
37:20
I
37:20
think
37:20
what
37:20
I
37:20
wrote
37:21
down
37:21
when
37:21
I
37:21
was
37:21
writing
37:22
my
37:22
notes
37:22
is
37:22
that
37:22
I
37:22
felt
37:23
like
37:23
it
37:23
was
37:23
kind
37:23
of
37:23
a
37:23
nothing
37:24
burger.
37:24
I
37:24
was
37:24
like,
37:24
yeah,
37:25
okay,
37:25
we're,
37:25
we're
37:26
updating
37:26
our
37:26
store
37:27
fleet
37:27
and
37:27
it's
37:27
our
37:27
biggest
37:27
ever
37:28
capital
37:28
investment.
37:29
But
37:29
I
37:29
can
37:29
tell
37:30
you
37:30
if
37:30
I
37:30
did
37:30
my
37:30
capital
37:31
investment
37:31
now
37:31
versus
37:32
10
37:32
years
37:32
ago,
37:32
it's
37:32
always
37:33
going
37:33
to
37:33
be
37:33
my
37:33
biggest
37:33
ever
37:34
capital
37:34
investment.
37:34
Right.
37:34
It's
37:35
way
37:35
more
37:35
expensive.
37:35
So
37:36
I
37:36
felt
37:36
a
37:36
little
37:37
bit
37:37
like
37:37
it
37:37
was
37:37
an
37:37
announcement
37:38
for
37:39
NRF
37:39
that
37:39
they
37:40
put
37:40
some
37:40
buzzy
37:40
language
37:41
around.
37:42
And,
37:42
and
37:43
the
37:43
other
37:43
point
37:43
was
37:43
I
37:44
know
37:44
that
37:44
Kelly
37:44
mentioned
37:44
they're
37:45
using
37:45
a
37:45
metrics
37:45
based
37:46
approach,
37:46
which
37:46
is
37:46
great,
37:46
but
37:47
I
37:47
don't
37:47
know
37:47
if
37:48
anybody
37:48
here
37:48
has
37:48
ever
37:49
redesigned
37:49
a
37:49
store
37:49
where
37:50
the
37:50
sales
37:50
didn't
37:50
go
37:50
up
37:51
because
37:52
you've
37:52
got
37:52
all
37:52
this
37:52
extra
37:53
attention,
37:53
you've
37:53
got
37:53
all
37:53
the
37:54
extra
37:54
staffing.
37:54
Once
37:54
you
37:54
pull
37:55
that
37:55
out,
37:55
your
37:55
sales
37:56
normally
37:56
revert
37:57
to
37:57
the
37:57
mean.
37:57
Right.
37:57
So
37:58
it's.
37:58
So
37:58
for
37:59
me
37:59
it
37:59
felt
37:59
a
37:59
little
37:59
bit
38:00
like
38:00
we're
38:00
doing
38:00
all
38:00
this
38:01
work
38:01
and
38:01
we're
38:01
going
38:01
to
38:01
change
38:02
trajectory,
38:02
but
38:02
once
38:03
you
38:03
went
38:03
below
38:03
the
38:04
details,
38:04
I
38:04
didn't
38:04
quite
38:05
get
38:05
it.
38:06
However,
38:06
I
38:06
think
38:07
the
38:07
checkout
38:07
points
38:08
also
38:08
stood
38:09
out
38:09
to
38:09
me
38:09
because
38:10
I
38:10
think
38:10
if
38:10
you
38:10
can
38:10
make
38:10
that
38:11
easier
38:11
to
38:11
get
38:11
out
38:11
of
38:12
the
38:12
store.
38:13
Obviously
38:13
I'm
38:13
not
38:14
like
38:14
a
38:14
high
38:15
Sephora
38:15
shopper,
38:15
but
38:16
my
38:16
wife
38:16
is.
38:16
And
38:17
so
38:17
like
38:17
she
38:18
has
38:18
talked
38:18
before
38:18
about
38:18
how
38:19
difficult
38:19
it
38:19
is
38:19
to
38:19
get
38:19
in
38:19
and
38:20
out
38:20
of
38:20
the
38:20
store
38:21
and
38:21
I
38:21
think
38:21
that
38:21
would
38:22
be
38:22
a
38:22
big
38:22
thing.
38:22
But,
38:22
but
38:23
more
38:23
operationally,
38:24
I'm
38:24
actually
38:24
more
38:25
excited
38:25
by
38:25
what
38:25
Kelly
38:26
says
38:26
about
38:26
the
38:26
connection
38:26
with
38:26
the
38:27
brands
38:27
because
38:27
having
38:28
done
38:28
some
38:28
work
38:28
in
38:29
the
38:29
drug
38:29
space,
38:30
getting
38:30
the
38:30
fixtures
38:31
changed
38:31
over
38:32
by
38:32
your
38:33
brand
38:33
partners
38:33
is
38:34
a
38:34
massive
38:34
lift
38:34
for
38:35
everybody.
38:35
And
38:36
if
38:36
you
38:36
can
38:36
make
38:36
that
38:37
smoother.
38:37
That
38:37
also
38:38
then
38:38
feeds
38:39
into
38:39
the,
38:39
the
38:40
idea
38:40
of
38:40
being
38:40
more
38:41
on
38:41
trend
38:41
and
38:41
more
38:42
relevant
38:42
if
38:43
you
38:43
can
38:43
make
38:43
that
38:43
happen
38:43
quicker.
38:44
So
38:44
I
38:44
can
38:44
actually
38:44
see
38:45
a
38:45
much
38:45
bigger
38:45
benefit
38:45
from
38:46
that
38:46
now
38:46
than,
38:46
than
38:47
I
38:47
kind
38:47
of
38:47
originally
38:47
thought.
38:48
Absolutely.
38:48
Yeah.
38:49
Those
38:49
are
38:50
great
38:50
points,
38:50
John.
38:50
You
38:50
know,
38:51
it's,
38:51
it's
38:51
funny
38:51
to
38:51
me
38:51
too
38:52
when
38:52
I
38:52
think
38:52
about
38:52
the
38:53
psychological
38:53
dynamics
38:54
of
38:54
doing
38:54
this
38:54
show
38:55
too
38:55
is
38:55
like
38:55
when
38:55
I
38:55
first
38:56
read
38:56
the
38:56
headline,
38:56
I
38:56
was
38:56
like,
38:56
yeah,
38:57
I
38:57
feel
38:57
like
38:57
John
38:57
does.
38:58
But
38:58
then
38:58
you
38:58
go
38:58
and
38:58
you
38:59
think
38:59
about
38:59
who's
38:59
the
38:59
leadership
39:00
team,
39:00
you
39:00
know,
39:01
what
39:01
pedigree
39:01
do
39:01
they
39:01
have
39:02
behind
39:02
them,
39:02
what
39:02
performance
39:03
has
39:03
the
39:04
company
39:04
exhibited
39:04
in
39:05
the
39:05
past?
39:05
And
39:05
it
39:05
gives
39:05
us
39:05
a
39:06
little
39:06
more
39:06
license
39:07
to
39:07
accept
39:08
what
39:08
Sephora
39:08
is
39:08
telling
39:09
us
39:09
and
39:09
be
39:09
a
39:09
little
39:09
more
39:10
optimistic
39:10
about
39:10
it
39:11
as
39:11
well.
39:11
So
39:11
it's
39:11
interesting
39:12
as,
39:12
as
39:12
we
39:12
review
39:13
these
39:13
headlines
39:13
each
39:13
and
39:13
every
39:14
week.
39:15
Well,
39:15
let's
39:15
stay
39:16
on
39:16
fashion,
39:18
beauty
39:18
and
39:18
luxury
39:19
and
39:19
talk
39:19
about
39:20
headline
39:20
number
39:20
five,
39:21
which
39:21
is
39:21
Walmart
39:23
selling
39:24
Chanel,
39:24
Fendi
39:25
and
39:25
Prada.
39:26
And
39:26
yes,
39:26
you
39:27
heard
39:27
that
39:27
right.
39:27
According
39:28
to
39:28
Yahoo
39:29
Finance,
39:29
Walmart
39:29
is
39:29
making
39:30
a
39:30
big
39:30
push
39:30
into
39:31
the
39:31
luxury
39:31
market
39:31
and
39:31
has
39:32
tapped
39:32
resale
39:32
platform
39:33
Rebag
39:34
to
39:34
attract
39:34
wealthier
39:35
shoppers.
39:35
Starting
39:36
January
39:36
16,
39:37
the
39:37
retail
39:37
giant
39:38
will
39:38
offer
39:38
over
39:38
27,000
39:39
pre
39:40
owned
39:40
high
39:40
end
39:41
items
39:41
on
39:41
its
39:42
online
39:42
marketplace,
39:43
including
39:43
coveted
39:44
pieces
39:44
from
39:44
brands
39:44
like
39:45
Chanel,
39:45
Fendi,
39:46
Prada
39:47
and
39:48
Louis
39:48
Vuitton.
39:49
The
39:49
move
39:50
follows
39:50
the
39:50
viral
39:51
success
39:51
of
39:51
the
39:52
work
39:52
in
39:52
a
39:52
dupe
39:53
made
39:54
working
39:54
ad
39:55
Hermes
39:56
Birkin
39:56
bag
39:57
and
39:57
marks
39:58
a
39:58
significant
39:58
step
39:58
in
39:59
Walmart's
39:59
resale
39:59
business.
40:00
Rebag's
40:00
catalog
40:01
will
40:01
include
40:02
luxury
40:02
handbags,
40:03
watches,
40:03
jewelry
40:04
and
40:04
accessories
40:04
ranging
40:05
from
40:05
smaller
40:05
items
40:06
to
40:06
iconic
40:06
pieces
40:07
like
40:07
the
40:07
Birkin
40:08
bag
40:08
which
40:08
can
40:09
cost
40:09
tens
40:10
of
40:10
thousands
40:10
of
40:10
dollars.
40:11
Additionally,
40:11
there
40:12
will
40:12
be
40:12
a
40:12
hundred
40:12
items
40:13
sold
40:13
exclusively
40:14
to
40:14
Walmart
40:15
customers,
40:15
the
40:15
company
40:16
confirmed
40:16
to
40:16
Quartz
40:17
in
40:17
an
40:17
email.
40:18
Kelly,
40:18
on
40:19
a
40:19
scale
40:19
of
40:19
1
40:19
to
40:20
10,
40:20
how
40:20
much
40:20
do
40:21
you
40:21
like
40:21
Walmart's
40:22
partnership
40:22
with
40:22
Rebag?
40:23
And
40:23
do
40:23
you
40:23
think
40:23
customers
40:23
will
40:24
actually
40:24
come
40:24
to
40:25
Walmart's
40:25
website
40:26
to
40:26
purchase
40:26
items
40:27
from
40:27
the
40:27
likes
40:28
of
40:28
Chanel?
40:30
I'm
40:30
really
40:30
excited
40:31
to
40:31
hear
40:31
what
40:31
you
40:31
guys
40:32
score
40:32
this
40:32
as
40:32
well.
40:34
I
40:34
spent
40:34
a
40:34
long
40:35
time
40:35
on
40:35
this.
40:35
I
40:35
started
40:36
in
40:36
the
40:36
middle
40:36
and
40:36
then
40:37
I
40:37
started
40:37
to
40:37
shift
40:37
up.
40:38
So
40:38
I'm
40:38
gonna
40:38
give
40:38
this
40:39
an
40:39
eight.
40:39
Okay,
40:40
nice.
40:41
I'm
40:41
gonna
40:41
give
40:41
it
40:42
an
40:42
eight.
40:43
I
40:43
like
40:43
it
40:44
for
40:44
a
40:44
couple
40:44
reasons.
40:45
I
40:46
like
40:46
it
40:46
the
40:46
most
40:46
for
40:47
Rebag,
40:47
but
40:48
I'll,
40:48
I'll
40:48
talk
40:48
about
40:48
why
40:49
I
40:49
like
40:49
it
40:49
for
40:49
each
40:50
partner.
40:51
So
40:52
you
40:52
know,
40:53
Walmart
40:53
over
40:53
the
40:53
last
40:54
couple
40:54
years
40:55
has
40:55
been
40:55
really
40:55
trying
40:56
to
40:56
grow
40:56
their
40:57
marketplace
40:58
and
40:58
increase
40:58
their
40:58
SKU
40:59
count.
40:59
So
41:00
from
41:00
that
41:00
regard,
41:01
I
41:01
think
41:01
this
41:02
is
41:02
a
41:02
really
41:02
smart
41:02
move
41:03
because
41:04
they're
41:05
immediately
41:05
getting
41:05
access
41:06
to
41:06
a
41:06
ton
41:07
more
41:07
SKUs.
41:08
Whether
41:09
or
41:09
not
41:09
someone's
41:10
actually
41:10
going
41:10
to
41:10
go
41:11
think
41:11
to
41:12
buy
41:12
a
41:12
Chanel
41:13
bag
41:13
at
41:13
Walmart.
41:14
If
41:14
I'm
41:14
Google
41:15
searching
41:15
for
41:15
a
41:15
Chanel
41:15
bag
41:16
now,
41:16
Walmart
41:17
is
41:17
getting
41:18
visibility
41:18
clicks
41:19
from
41:19
shoppers
41:20
who
41:21
would
41:21
probably
41:22
never
41:22
go
41:22
there
41:22
for
41:22
Chanel
41:23
and
41:23
maybe
41:23
never
41:23
go
41:24
there
41:24
ever.
41:24
So
41:25
I
41:25
think
41:25
it
41:25
is
41:26
is
41:26
an
41:26
interesting
41:27
way
41:27
for
41:27
them
41:28
to
41:28
get
41:28
access
41:29
one
41:29
to
41:30
more
41:30
SKUs
41:31
and
41:31
to
41:31
potentially
41:32
new
41:32
consumers
41:33
where
41:33
they've
41:33
already
41:34
been
41:35
starting
41:35
to
41:35
attract
41:36
more
41:36
of
41:36
this,
41:37
you
41:38
know,
41:39
higher
41:39
household
41:40
income
41:41
type
41:41
of
41:41
consumer.
41:43
Love
41:44
this
41:44
for
41:44
Rebag
41:45
because
41:46
the
41:47
luxury
41:47
secondhand
41:48
market
41:48
has
41:48
been
41:49
growing
41:49
a
41:49
lot
41:49
and
41:50
I,
41:50
I've
41:50
actually
41:51
been
41:51
familiar
41:51
with
41:51
the
41:52
company
41:52
for
41:52
a
41:52
couple
41:53
years
41:53
through
41:54
social
41:55
media
41:55
advertising
41:56
which
41:56
is
41:57
a
41:57
really
41:58
expensive
41:58
way
41:58
to
41:59
acquire
41:59
customers
42:01
and
42:01
they're
42:01
still
42:01
not
42:02
the
42:02
biggest
42:02
name
42:02
in
42:02
this
42:03
market.
42:04
So
42:04
they've
42:04
been
42:04
starting
42:05
to
42:05
dabble
42:05
in
42:05
partnerships.
42:06
They're
42:07
also
42:07
partnered
42:08
with
42:08
Bloomingdale's
42:09
which
42:09
I
42:09
think
42:10
is
42:11
honestly
42:12
not
42:12
as
42:12
good
42:12
of
42:12
a
42:12
partnership
42:13
as
42:13
the
42:13
Walmart
42:14
one
42:14
because
42:15
you
42:15
have
42:15
people
42:15
who
42:15
would
42:16
be
42:16
going
42:16
to
42:16
Bloomingdale's
42:17
to
42:17
buy
42:17
these
42:18
bags
42:18
full
42:18
price
42:19
and
42:19
right,
42:20
you
42:20
know,
42:20
they
42:20
have
42:20
an
42:20
option
42:21
to
42:21
buy
42:21
secondhand.
42:21
But
42:22
I
42:22
think
42:22
this
42:22
is
42:23
a
42:23
quirky
42:24
but
42:24
really
42:24
interesting
42:25
pair
42:25
for
42:25
them
42:26
to
42:26
also
42:26
just
42:27
get
42:27
a
42:28
lot
42:28
of
42:28
visibility
42:29
to
42:29
their
42:29
brand
42:30
and
42:31
also
42:31
reach
42:32
a
42:33
younger
42:34
luxury
42:34
consumer
42:36
who
42:37
will
42:37
only
42:38
buy
42:38
secondhand.
42:40
A
42:40
lot
42:40
of
42:40
the
42:41
growth
42:41
of
42:41
this
42:42
market
42:42
has
42:43
been
42:43
driven
42:44
by
42:45
millennials,
42:45
Gen
42:46
Z
42:46
who
42:47
you
42:47
know,
42:47
through
42:48
social
42:48
media
42:48
have
42:49
a
42:49
lot
42:49
of
42:49
visibility
42:50
to
42:50
these
42:50
brands
42:50
that
42:51
they've
42:51
never
42:51
been
42:51
able
42:52
to
42:53
participate
42:53
in
42:54
and
42:54
now
42:55
they're
42:55
looking
42:55
for
42:55
ways
42:55
to
42:55
do
42:56
that
42:56
affordably.
42:56
So
42:57
I
42:57
think
42:59
I
42:59
also
42:59
just
42:59
love
43:00
Walmart
43:00
like
43:01
using
43:01
the
43:01
virality
43:02
of
43:02
the
43:02
work
43:02
in
43:03
to
43:03
now
43:04
launch
43:04
this
43:04
totally
43:06
new
43:06
luxury
43:07
platform
43:07
I
43:07
think
43:08
is
43:08
genius.
43:09
So
43:09
great
43:09
point.
43:09
I
43:10
wonder
43:10
how
43:10
intentional
43:10
that
43:10
was.
43:11
So
43:11
it
43:11
was
43:11
seated?
43:12
Yeah,
43:12
yeah,
43:13
it
43:13
could
43:13
have
43:13
been.
43:14
Yeah,
43:14
it
43:14
could
43:14
have
43:14
been,
43:15
could
43:15
have
43:15
been
43:15
because
43:15
I.
43:16
You
43:16
can
43:16
now
43:17
no
43:17
longer
43:17
find
43:17
a
43:18
work
43:18
in
43:18
bag.
43:18
Oh
43:19
no
43:19
site
43:20
that.
43:20
That
43:20
came
43:21
right
43:21
down.
43:22
Hermes
43:23
has
43:23
pretty
43:23
good
43:23
track
43:24
record
43:24
at,
43:25
at
43:26
lawsuits
43:27
with
43:28
anti
43:28
copyright
43:29
infringement.
43:30
So
43:30
yeah,
43:31
I'm
43:31
excited
43:31
to
43:31
see
43:31
where
43:31
this
43:32
goes.
43:32
Would,
43:32
would
43:33
love
43:33
to
43:33
hear
43:33
your
43:33
thoughts
43:34
too.
43:35
Yeah,
43:35
I
43:35
mean
43:36
Kelly,
43:36
I
43:36
think
43:36
you
43:36
bring
43:36
up
43:37
such
43:37
a
43:37
good
43:37
point
43:37
and
43:38
we've
43:38
said
43:38
this
43:38
the
43:38
last
43:39
couple
43:39
weeks,
43:39
like
43:40
this
43:40
is
43:40
a
43:40
search
43:40
game
43:41
now
43:41
and
43:42
I
43:42
think
43:42
from
43:42
people
43:43
finding
43:44
things
43:44
on
43:44
social
43:44
media.
43:45
I'm
43:45
bringing
43:45
in
43:46
Google
43:46
Lens
43:46
again
43:47
because
43:47
that's
43:47
what
43:47
I
43:47
do
43:47
all
43:47
the
43:48
time
43:48
when
43:48
I
43:48
See
43:48
a
43:48
bag
43:49
that
43:49
I
43:49
like
43:50
and
43:50
now,
43:50
you
43:50
know,
43:51
Walmart's
43:51
going
43:52
to
43:52
be
43:52
the
43:52
first
43:52
one
43:52
that
43:53
shows
43:53
up
43:53
when
43:53
I
43:54
find
43:54
that
43:54
bag,
43:55
whether
43:55
it's
43:55
through
43:55
search,
43:56
through
43:56
typing
43:56
in
43:57
Fendi
43:57
handbag.
43:58
Like
43:58
this
43:58
is
43:59
now
43:59
a
44:00
consideration
44:01
that
44:01
many
44:02
people
44:02
would
44:02
not
44:02
have
44:03
made
44:03
before.
44:04
And
44:04
I
44:04
think
44:04
Walmart's
44:05
biggest
44:05
issue
44:05
right
44:06
now,
44:06
which
44:06
again,
44:06
Kelly,
44:07
I
44:07
think
44:07
you
44:07
bring
44:07
in
44:08
the
44:08
validity
44:09
and
44:09
authenticity
44:10
that
44:10
Rebag
44:11
brings
44:11
to
44:11
this
44:12
partnership
44:12
because
44:12
I
44:12
think
44:13
that's
44:13
the
44:13
biggest
44:13
challenge
44:14
that
44:14
Walmart
44:14
will
44:14
have
44:14
here
44:15
is
44:15
that,
44:15
yes,
44:16
I
44:16
see
44:16
a
44:16
fendi
44:17
bag
44:17
on
44:17
Walmart.com
44:18
1.
44:18
This
44:19
is
44:19
weird
44:19
because
44:19
I
44:19
didn't
44:20
expect
44:20
that
44:20
it
44:20
would
44:20
be
44:20
there,
44:21
but
44:21
now
44:21
I
44:21
have
44:22
Rebag's
44:22
name
44:23
attached
44:23
to
44:23
it
44:23
so
44:23
that
44:24
I
44:24
know
44:24
that
44:25
actually
44:25
this
44:25
is
44:26
going
44:26
to
44:26
be
44:27
an
44:27
authenticated
44:28
bag.
44:28
This
44:28
is
44:28
the
44:29
same
44:29
thing.
44:29
It's
44:30
just
44:30
at
44:30
a
44:30
place
44:30
where
44:31
maybe
44:31
I'd
44:31
never
44:32
considered,
44:32
you
44:33
know,
44:33
shopping
44:33
for
44:34
this
44:34
type
44:34
of
44:34
thing
44:35
before.
44:35
So,
44:36
John,
44:36
I'm
44:36
going
44:36
to
44:36
bring
44:37
you
44:37
in
44:37
here
44:37
too.
44:38
What
44:38
are
44:38
your
44:38
thoughts
44:38
on
44:38
this?
44:39
Are
44:40
you
44:40
gonna
44:40
buy
44:40
your
44:40
wife
44:41
a
44:41
chanel
44:41
bag
44:41
on
44:42
Walmart.com?
44:43
Well,
44:44
hold
44:44
on.
44:44
And
44:44
what,
44:44
what's
44:44
your
44:45
grade
44:45
first?
44:45
I
44:45
want
44:45
to
44:45
know.
44:46
One
44:46
to
44:46
ten.
44:46
Where
44:46
are
44:46
you?
44:47
Are
44:47
you
44:47
eight?
44:47
Kelly
44:47
was
44:48
eight.
44:48
What
44:48
are
44:48
you.
44:49
Oh,
44:49
I'm,
44:50
I'm
44:50
a
44:50
ten
44:51
on
44:51
this.
44:51
I
44:51
think
44:51
it's
44:52
brilliant.
44:52
Yeah,
44:53
yeah,
44:53
I
44:53
think
44:53
it's
44:54
total,
44:54
total
44:55
brilliant
44:55
Move,
44:56
John,
44:57
where,
44:58
what
44:58
are
44:58
you
44:58
grading?
44:59
And
44:59
are
44:59
you
44:59
going
44:59
to
44:59
buy
44:59
your
45:00
wife
45:00
a
45:00
bag?
45:00
So
45:00
I
45:00
want
45:00
to
45:01
know
45:01
this.
45:02
And
45:02
she
45:02
might,
45:03
if
45:03
she's
45:03
lucky,
45:03
she'll
45:04
get
45:04
a
45:04
handbag
45:04
at
45:04
some
45:04
point.
45:05
I
45:05
guess
45:05
I
45:05
don't
45:05
have
45:05
a
45:05
great
45:05
track
45:06
record.
45:08
This
45:09
does,
45:09
this
45:09
does
45:10
make
45:10
it
45:10
easier
45:10
for
45:10
me
45:10
to
45:10
up
45:11
my
45:11
game
45:11
there.
45:12
Yeah,
45:12
I
45:12
mean,
45:12
I
45:13
would
45:13
agree
45:13
and
45:13
say,
45:14
yeah,
45:14
I
45:14
think
45:15
it's
45:15
a
45:15
10
45:15
for
45:15
me
45:15
as
45:16
well.
45:16
I
45:16
mean,
45:16
I,
45:16
honestly,
45:17
from,
45:18
I,
45:19
I
45:19
think
45:19
Kelly's
45:19
perspective,
45:20
kind
45:20
of
45:20
looking
45:20
at,
45:20
from
45:20
everybody's
45:21
view
45:22
is
45:22
a
45:22
really
45:22
good
45:23
way,
45:23
I
45:23
think.
45:23
And
45:23
I
45:23
don't
45:23
see
45:23
a
45:23
downside
45:24
for
45:24
anybody.
45:24
I
45:25
was
45:25
a
45:25
little
45:25
bit
45:25
more
45:25
focused
45:26
on
45:26
my
45:26
first
45:27
view
45:27
on
45:27
the
45:27
kind
45:28
of
45:28
Walmart
45:28
piece
45:28
of
45:29
this.
45:29
And
45:29
I,
45:30
I
45:30
literally
45:30
don't
45:30
see
45:31
a
45:31
downside
45:31
to
45:31
this
45:31
for
45:31
Walmart.
45:32
I
45:32
mean,
45:32
I
45:33
mean,
45:33
people
45:33
can
45:33
say
45:34
it's
45:34
quirky,
45:34
but
45:34
they
45:34
have,
45:35
I
45:35
think
45:35
like
45:35
150,000
45:37
sellers
45:37
on
45:38
their
45:38
marketplace.
45:38
They
45:39
sell
45:39
a
45:39
ton.
45:40
They
45:40
compete
45:40
directly
45:41
with
45:41
Amazon
45:41
on
45:42
this.
45:42
So
45:42
why
45:42
not
45:42
get
45:42
into
45:43
this
45:43
space?
45:44
So
45:44
that's
45:44
my
45:44
first
45:45
piece.
45:45
The
45:45
other
45:45
thing
45:45
is,
45:46
and
45:46
Kelly
45:46
touched
45:46
on
45:47
it,
45:47
I
45:47
mean,
45:47
this,
45:48
the
45:48
resale
45:49
market
45:49
is
45:49
massively
45:49
driven
45:50
by
45:50
Gen
45:51
Z,
45:51
even
45:51
Particularly
45:52
more
45:52
so
45:52
than
45:52
millennials.
45:53
Gen
45:53
Z,
45:53
I
45:53
think
45:54
I
45:54
looked
45:54
it
45:54
up.
45:55
43%
45:56
have
45:56
said
45:56
they
45:56
bought
45:57
a
45:57
secondhand
45:57
item
45:57
in
45:58
the
45:58
last
45:58
12
45:58
months
45:59
and
45:59
83%
46:00
say
46:00
they
46:00
are
46:00
interested
46:01
in
46:01
buying
46:01
a
46:01
secondhand
46:02
item.
46:02
So
46:02
like
46:02
the,
46:02
the
46:03
penetration
46:04
of
46:04
interest
46:05
in
46:05
this
46:05
space
46:05
is
46:05
huge.
46:06
And
46:06
the
46:06
final
46:07
piece
46:07
I'd
46:07
have
46:07
is
46:08
it
46:08
again
46:09
goes
46:09
on
46:09
to
46:09
this
46:10
topic
46:10
of
46:10
Walmart
46:11
doubling
46:11
down
46:12
on
46:12
growth
46:12
strategies.
46:13
And
46:14
for
46:14
me
46:14
it's
46:14
a
46:14
growth
46:14
strategy
46:15
in
46:15
two
46:15
directions.
46:16
So
46:16
one
46:16
is
46:17
trying
46:18
to
46:18
capture
46:18
even
46:19
more
46:19
of
46:19
that
46:19
100k
46:20
plus
46:20
household
46:21
that
46:21
we
46:21
already
46:21
know
46:22
is
46:22
shopping
46:23
more
46:23
with
46:23
Walmart
46:23
and
46:24
has
46:24
been
46:24
over
46:24
the
46:24
last
46:24
12
46:24
to
46:25
18
46:25
months.
46:25
So
46:25
that's
46:25
the
46:25
first
46:26
point.
46:26
The
46:27
second
46:27
point
46:27
is
46:27
now
46:28
entering
46:28
and
46:29
attracting
46:29
more
46:29
attention
46:30
from
46:30
those,
46:31
the
46:31
aforementioned,
46:31
like
46:31
Gen
46:32
Z's,
46:32
right?
46:32
Which
46:32
is
46:33
not
46:33
a
46:33
space
46:34
where
46:34
Walmart
46:34
traditionally
46:35
attracts
46:35
a
46:35
lot
46:35
of
46:35
customers.
46:36
And
46:37
you
46:37
really
46:37
kind
46:37
of
46:37
people
46:38
age
46:38
into
46:38
Walmart
46:39
I
46:39
guess
46:39
is
46:39
the
46:39
way
46:39
to
46:39
put
46:39
it.
46:40
So
46:40
if
46:40
they
46:40
can
46:40
attract
46:41
those
46:41
earlier,
46:42
obviously
46:42
you
46:42
get
46:42
more
46:42
sales
46:43
over
46:43
the
46:43
life
46:43
cycle
46:44
of
46:44
that
46:44
person.
46:45
And
46:45
I
46:45
think
46:45
it's,
46:45
it's
46:46
just
46:46
very
46:46
like
46:47
it,
46:47
it's
46:47
low
46:47
risk,
46:48
it's
46:48
high
46:48
rewards
46:50
and
46:50
also
46:51
it
46:51
generates
46:51
some
46:51
clicks
46:52
at
46:52
this
46:52
moment,
46:52
right?
46:52
It's
46:52
like,
46:53
oh,
46:53
Walmart
46:53
are
46:53
selling
46:53
Fendi.
46:54
What?
46:54
Like
46:54
it's
46:55
very
46:55
easy
46:55
marketing
46:56
play
46:56
at
46:56
this
46:57
moment
46:57
for
46:57
kind
46:58
of
46:58
not
46:58
a
46:58
lot
46:59
of
46:59
downside.
46:59
And
46:59
it's
47:00
just,
47:00
for
47:00
me,
47:00
it's
47:01
just
47:01
so
47:01
interesting
47:01
to
47:01
see
47:02
all
47:02
the
47:02
different
47:03
ways
47:03
that
47:03
Walmart
47:04
are
47:04
innovating.
47:05
Like
47:05
they're
47:05
doing
47:05
it
47:06
in
47:06
like
47:06
super
47:06
like
47:06
basic
47:07
ways
47:07
in
47:07
grocery
47:08
with
47:08
private
47:08
label.
47:08
They're
47:09
doing
47:09
it
47:09
in
47:09
automation,
47:09
they're
47:10
doing
47:10
it
47:10
in
47:10
high
47:10
end
47:11
luxury.
47:11
I
47:11
don't
47:12
think
47:12
anybody
47:12
is
47:12
touching
47:13
as
47:13
many
47:13
pieces
47:13
as
47:14
they
47:14
are
47:14
at
47:14
this
47:14
moment,
47:15
which
47:15
is
47:15
interesting.
47:16
I
47:17
love
47:17
that
47:17
point,
47:18
John.
47:18
And
47:18
I
47:18
think
47:18
you
47:18
hit
47:19
on
47:19
too
47:19
the
47:20
importance
47:20
here
47:21
of
47:22
they're
47:22
not
47:22
just
47:23
doing
47:23
this
47:23
partnership
47:23
with
47:24
Rebag,
47:24
it's
47:24
not
47:24
just
47:25
a
47:25
design
47:25
partnership
47:26
and
47:26
poof,
47:26
it's
47:26
gone.
47:27
It's
47:27
all
47:27
of
47:27
the
47:28
things
47:28
that
47:28
they're
47:28
doing
47:28
around
47:28
it,
47:29
working
47:29
it
47:30
to
47:30
be
47:30
present
47:30
at
47:30
New
47:31
York
47:31
Fashion
47:31
Week.
47:31
Like
47:32
they're
47:32
really
47:32
working
47:32
to
47:33
establish
47:33
this
47:33
audience
47:34
and
47:35
build
47:35
this
47:35
audience,
47:36
you
47:36
know,
47:36
365
47:37
days
47:38
a
47:38
year.
47:38
But
47:38
Chris,
47:39
I'll
47:39
let
47:39
you
47:39
close
47:39
it
47:39
out,
47:40
give
47:40
us
47:40
your
47:40
grade
47:41
and
47:41
then
47:41
explain
47:42
why.
47:42
Yeah,
47:43
or
47:43
the
47:43
Walmart
47:43
rebrand
47:44
overall
47:44
that
47:44
they
47:45
just
47:45
announced
47:45
a
47:45
couple
47:45
of
47:45
weeks
47:45
ago
47:46
too.
47:46
Right.
47:46
And
47:47
you
47:47
know,
47:47
I
47:47
think
47:47
the
47:47
other
47:47
point
47:48
I
47:48
make
47:48
too,
47:48
John,
47:49
like,
47:49
like
47:49
before
47:49
I
47:50
get
47:50
my
47:50
grade
47:50
is
47:50
like
47:50
I
47:50
think
47:51
it
47:51
potentially
47:51
democratizes
47:52
resale
47:53
too
47:53
because
47:53
it
47:54
potentially
47:54
actually
47:54
makes
47:55
it
47:55
available
47:55
to
47:55
all
47:55
those
47:56
older
47:56
generations
47:56
in
47:57
a
47:57
way
47:57
that
47:57
they
47:57
were
47:57
not
47:58
able
47:58
to,
47:58
you
47:58
know,
47:59
view
47:59
it
47:59
or
47:59
take
48:00
part
48:00
in
48:00
it
48:00
before
48:00
too.
48:01
But
48:01
I'm,
48:01
I'm,
48:02
I'm
48:02
Spinal
48:02
Tap
48:03
on
48:03
this
48:03
one.
48:03
I'm
48:03
dialed
48:04
up
48:04
to
48:04
11
48:04
on
48:04
this.
48:05
I
48:05
mean,
48:05
I
48:05
think,
48:06
and
48:06
the
48:06
reason
48:07
I
48:07
say
48:07
that
48:07
is
48:07
because
48:08
I
48:08
did
48:08
something
48:09
yesterday
48:09
that
48:09
I
48:10
never
48:10
in
48:10
my
48:11
life
48:11
thought
48:11
I
48:11
would
48:11
be
48:12
able
48:12
to
48:12
do.
48:12
I'm,
48:13
I'm,
48:13
I'm
48:13
serious
48:13
when
48:13
I
48:14
say
48:14
that.
48:14
Like,
48:14
I
48:14
typed
48:15
Fendi
48:15
into
48:15
the
48:16
search
48:16
bar
48:17
and
48:17
I
48:17
got
48:17
25
48:18
pages
48:19
of
48:19
results.
48:20
That's
48:20
insane.
48:21
I
48:21
never
48:21
would
48:21
have
48:21
expected
48:22
to
48:22
do
48:22
that.
48:23
And
48:23
the,
48:24
the
48:24
only,
48:24
and
48:24
the,
48:25
here's
48:25
the
48:25
cool
48:25
thing
48:25
about
48:26
this.
48:26
To
48:26
me
48:27
putting
48:27
my
48:27
merchandising
48:28
hat
48:28
on,
48:28
the
48:28
only
48:29
Walmart
48:29
customers
48:30
that
48:30
will
48:30
have
48:30
this
48:31
experience
48:31
are
48:32
those
48:32
that
48:32
are
48:32
searching
48:33
for
48:33
it,
48:33
those
48:34
that
48:34
want
48:35
it.
48:35
It's
48:36
the
48:36
perfect
48:36
example
48:37
of
48:37
extending
48:37
your
48:37
reach
48:38
digitally
48:38
without
48:39
alienating
48:39
your
48:39
customer
48:40
base
48:41
or
48:41
your
48:41
business
48:41
model
48:42
because
48:42
you
48:42
don't
48:43
have
48:43
to
48:43
dedicate
48:43
your
48:43
space
48:44
in
48:44
the
48:44
store
48:44
to
48:45
slow
48:45
turning
48:45
high
48:46
priced
48:46
items
48:46
that
48:46
could
48:47
be
48:47
too
48:47
unaffordable
48:48
for
48:48
those
48:48
people
48:49
that
48:49
can't
48:49
afford
48:49
them.
48:50
But
48:50
this
48:50
gives
48:50
you
48:50
that
48:51
customer
48:51
base.
48:52
So
48:53
I
48:53
think
48:53
it's
48:53
just
48:53
a
48:53
masterclass
48:54
on
48:54
digital
48:55
retailing.
48:55
And
48:56
try,
48:56
I
48:56
mean,
48:56
here's
48:57
the
48:57
other
48:57
thing.
48:57
And
48:57
because
48:58
I
48:58
took
48:58
a
48:58
page
48:58
from
48:59
you
48:59
on
48:59
this
48:59
one,
49:00
try
49:00
searching
49:00
for
49:00
Fendi
49:01
at
49:01
Target
49:02
and
49:02
let
49:02
me
49:02
know
49:02
what
49:03
you
49:03
find.
49:04
My
49:04
hunch
49:05
is
49:05
it's
49:05
going
49:05
to
49:05
rhyme
49:05
with
49:05
a
49:05
big
49:06
fat
49:06
donut.
49:07
That's
49:07
what's
49:07
there.
49:08
There's
49:08
nothing
49:09
there.
49:09
And
49:10
so
49:10
Walmart's
49:11
killing
49:11
it
49:11
on
49:12
every
49:12
angle.
49:12
And
49:12
to
49:13
John,
49:13
to
49:13
your
49:13
point,
49:14
the
49:14
scale
49:14
at
49:14
which
49:15
they're
49:15
doing
49:15
this
49:15
too
49:15
is
49:16
just
49:16
so
49:17
impressive.
49:18
Yeah,
49:18
it's
49:19
coming
49:19
from
49:19
every
49:19
department
49:20
out
49:20
of
49:20
that
49:20
retailer
49:21
right
49:21
now.
49:22
All
49:22
right,
49:22
you
49:22
guys,
49:23
let's,
49:23
let's
49:23
close
49:24
it
49:24
up
49:24
and
49:24
go
49:24
to
49:24
the
49:24
lightning
49:25
round.
49:25
Kelly,
49:25
you
49:25
get
49:26
question
49:26
number
49:26
one.
49:27
Walmart
49:28
not
49:28
only
49:28
is
49:29
dominating
49:30
all
49:30
of
49:30
our
49:31
retail
49:31
headlines
49:31
today,
49:32
but
49:32
they're
49:32
also
49:32
requiring
49:33
employees
49:34
to
49:34
return
49:35
to
49:35
the
49:35
office
49:35
in
49:35
Bentonville
49:36
this
49:36
month.
49:36
And
49:37
to
49:37
welcome
49:37
them
49:37
back,
49:37
they
49:37
just
49:38
opened
49:38
a
49:39
brand
49:39
new
49:39
designed
49:40
campus
49:40
which
49:41
features
49:41
a
49:41
fitness
49:42
center,
49:43
a
49:43
store
49:43
layout
49:44
center,
49:44
an
49:44
amphitheater,
49:45
a
49:45
daycare
49:46
for
49:46
up
49:46
to
49:46
500
49:47
children,
49:47
among
49:48
many
49:48
other
49:48
things.
49:49
I
49:49
want
49:49
to
49:50
know,
49:50
Kelly,
49:51
what
49:51
would
49:51
you
49:51
want
49:51
included
49:52
if
49:52
A
49:53
and
49:53
M
49:53
was
49:53
designing
49:54
a
49:54
new
49:54
headquarters
49:55
for
49:55
you?
49:57
Great
49:57
question.
50:00
I
50:00
would
50:00
certainly
50:01
take
50:01
all
50:01
those
50:02
things
50:02
that,
50:02
that
50:03
Walmart's
50:03
setting
50:03
up
50:04
for
50:04
their
50:04
employees.
50:06
The
50:06
two
50:06
that
50:06
you
50:07
didn't
50:07
mention.
50:07
Which
50:07
out.
50:08
Adam.
50:08
Sucker
50:09
for
50:09
a
50:09
luxury
50:10
fancy
50:10
coffee.
50:11
So
50:11
if
50:12
there's
50:13
free
50:13
lattes.
50:14
You
50:14
know,
50:15
you'll
50:15
keep
50:15
me
50:15
in
50:15
the
50:15
building
50:16
for,
50:16
you
50:17
know,
50:17
an
50:17
extra
50:17
hour
50:18
on
50:18
both
50:18
ends
50:18
of
50:18
the
50:19
day
50:20
and
50:20
then
50:21
I'm
50:21
gonna
50:21
go
50:22
doggy
50:22
daycare.
50:23
Yes.
50:24
Those
50:24
of
50:24
us
50:24
who
50:25
are
50:25
not
50:25
in
50:25
the,
50:26
the
50:26
child
50:26
population,
50:28
doggy
50:29
daycare
50:29
would
50:29
go
50:29
a
50:30
long
50:30
way.
50:30
They
50:31
might
50:31
even
50:31
have
50:31
those
50:32
things.
50:32
I
50:33
think
50:34
they
50:34
ran
50:34
out
50:34
of
50:35
space
50:35
in
50:35
the
50:35
article.
50:36
Who
50:36
knows?
50:36
Who
50:37
knows?
50:37
Yeah.
50:37
They
50:38
probably
50:38
do,
50:38
knowing
50:39
them.
50:39
Yeah.
50:39
All
50:40
right.
50:40
All
50:40
right,
50:40
John,
50:41
this
50:41
next
50:41
one
50:41
I
50:41
picked
50:41
out
50:42
just
50:42
for
50:42
you,
50:42
a
50:43
Waymo
50:43
Taxi
50:44
recently
50:44
got
50:44
stuck
50:44
in
50:45
a
50:45
never
50:45
ending
50:46
roundabout
50:46
near
50:47
the
50:47
Phoenix
50:47
airport,
50:48
a
50:48
la
50:48
European
50:49
vacation,
50:50
as
50:50
our
50:50
resident
50:51
European
50:51
on
50:52
this
50:52
show.
50:52
And
50:53
for
50:53
those
50:53
interested,
50:54
my
50:54
first
50:54
roundabout
50:55
experience
50:55
was
50:55
in
50:55
Ireland.
50:56
What
50:56
recommendations
50:57
do
50:57
you
50:58
have
50:58
for
50:58
us
50:58
Yankees
50:59
here
50:59
in
50:59
terms
50:59
of
51:00
navigating
51:00
a
51:00
roundabout
51:01
effectively?
51:02
First
51:03
of
51:03
all,
51:03
before
51:03
I
51:03
ask
51:03
the
51:04
question,
51:04
did
51:04
you
51:04
watch
51:04
the
51:05
video
51:05
of
51:05
the
51:05
guy
51:05
in
51:06
the
51:06
Waymo
51:06
Taxi?
51:09
It's
51:09
crazy.
51:10
And
51:10
he's
51:10
like
51:10
on
51:10
the
51:11
call
51:11
with
51:11
the
51:11
customer
51:11
service
51:12
being
51:12
like,
51:12
how
51:13
do
51:13
I
51:13
stop
51:13
this
51:13
car?
51:14
It's
51:14
like
51:14
running
51:14
a
51:15
circle.
51:15
So
51:15
it's
51:15
like
51:16
you
51:16
should
51:16
look
51:16
it
51:16
up.
51:16
He
51:16
also
51:17
works
51:17
in
51:17
AI,
51:17
which
51:18
is
51:18
kind
51:18
of
51:18
funny.
51:18
So
51:19
just
51:19
as.
51:19
Oh,
51:19
that's
51:20
hilarious.
51:20
Really?
51:21
Oh,
51:21
my
51:21
God.
51:21
Yeah.
51:21
Yeah.
51:21
So
51:22
he
51:22
was
51:22
like,
51:22
I've
51:22
never
51:22
taken
51:22
one
51:23
of
51:23
these
51:23
again.
51:24
So
51:25
my
51:26
recommendation
51:26
for,
51:27
for
51:28
roundabouts,
51:28
which
51:28
I
51:29
mentioned
51:29
to
51:29
you
51:29
guys
51:29
already,
51:29
is
51:30
a
51:30
little
51:30
bit
51:30
of
51:30
a
51:30
passion
51:30
of
51:30
mine.
51:31
I
51:32
treat
51:32
it
51:32
like
51:32
a
51:33
four
51:33
way
51:33
stop
51:33
sign.
51:34
Right.
51:34
So
51:34
when
51:34
you
51:34
come
51:35
to
51:35
the
51:35
roundabout,
51:35
you
51:35
stop,
51:36
you
51:36
see
51:36
where
51:36
other
51:37
people
51:37
are
51:37
coming
51:37
from.
51:38
And
51:38
then
51:38
if
51:38
there's
51:39
nobody
51:39
coming,
51:39
you
51:39
go.
51:40
If
51:40
you're
51:40
turning
51:41
right,
51:41
you
51:41
indicate
51:41
right.
51:42
If
51:42
you're
51:42
going
51:42
to
51:43
the
51:43
other
51:43
side
51:43
of
51:43
the
51:43
roundabout,
51:44
you're
51:44
indicating
51:44
left.
51:44
It's
51:45
a
51:45
four
51:45
way
51:45
stop
51:45
sign
51:45
with
51:46
a
51:46
circle
51:46
in
51:46
the
51:46
middle.
51:46
That's
51:47
all
51:47
you
51:47
need
51:47
to
51:47
think
51:47
about.
51:47
Don't
51:48
over
51:48
complicate
51:48
it.
51:48
Yeah.
51:50
Yet
51:51
Americans
51:51
can't
51:52
figure
51:52
it
51:52
out.
51:52
Yeah,
51:53
I
51:53
know.
51:53
We're
51:53
still,
51:54
we're
51:54
still
51:54
working
51:54
on
51:55
it.
51:55
John,
51:56
you
51:56
get
51:56
question
51:56
number
51:56
three
51:57
as
51:57
well.
51:57
According
51:57
to
51:58
a
51:58
Wallet
51:58
Hub
51:58
study,
51:59
Florida
51:59
was
51:59
just
52:00
named
52:00
the
52:00
best
52:00
state
52:01
in
52:01
the
52:01
United
52:01
States
52:02
to
52:02
start
52:02
a
52:02
business
52:03
in
52:03
in
52:03
2025.
52:04
If
52:05
you
52:05
were
52:05
to
52:05
start
52:05
a
52:05
business
52:06
in
52:06
Florida
52:06
this
52:06
year,
52:07
what
52:07
kind
52:07
of
52:07
business
52:07
would
52:08
it
52:08
be?
52:09
Yeah,
52:09
I
52:09
was
52:10
kind
52:10
of
52:10
torn
52:10
on
52:10
this
52:10
one,
52:11
to
52:11
be
52:11
honest.
52:11
I
52:12
had
52:12
two
52:12
different
52:12
ideas.
52:12
So
52:13
I'm
52:13
going
52:13
to
52:13
put
52:13
them
52:13
both
52:13
out
52:13
there.
52:14
Okay,
52:15
we'll
52:15
take
52:15
them.
52:16
One
52:16
is
52:17
like
52:17
an
52:17
alligator
52:18
based,
52:19
like
52:20
boutique.
52:20
So
52:20
they
52:20
sell
52:21
like
52:21
alligator
52:21
skin
52:22
handbags
52:23
and
52:23
all
52:23
that
52:23
kind
52:23
of
52:23
stuff.
52:23
Right.
52:24
Which
52:24
is
52:24
kind
52:24
of
52:24
like
52:24
sustainable
52:25
local
52:25
but
52:26
the
52:26
other
52:26
one,
52:27
the
52:27
more
52:27
I
52:27
thought
52:27
about
52:27
is,
52:28
like,
52:28
what's
52:28
synonymous
52:29
with
52:30
Florida,
52:31
and
52:31
it's
52:31
like,
52:31
old
52:32
people,
52:32
I
52:32
mean,
52:32
to
52:32
be
52:33
kind
52:33
of
52:33
blunt.
52:33
So
52:34
what
52:34
you
52:34
really
52:34
want
52:35
is
52:35
kind
52:35
of
52:35
a,
52:35
like
52:36
a
52:36
theme
52:36
park
52:37
for
52:37
older
52:38
people.
52:38
So
52:38
kind
52:38
of
52:38
like
52:39
Disneyland,
52:40
but
52:40
for
52:40
older
52:41
people.
52:41
So,
52:41
like,
52:42
gentle
52:42
roller
52:42
coasters,
52:43
you
52:44
know,
52:44
like
52:44
a
52:44
track
52:44
where
52:44
they
52:45
can
52:45
go
52:45
around
52:45
on
52:45
their.
52:46
On
52:46
their
52:46
golf
52:47
simulator.
52:48
Yeah,
52:48
exactly.
52:48
Or
52:48
a
52:49
golf
52:49
simulator.
52:49
But
52:50
it's
52:50
like,
52:50
I
52:50
think
52:50
that's
52:50
what
52:50
they're
52:51
missing
52:51
in
52:51
Florida.
52:51
And
52:51
I
52:52
think
52:52
you'd
52:52
make
52:52
a
52:52
lot.
52:52
Of.
52:55
Like,
52:55
amusement
52:55
park
52:56
rides
52:56
that
52:56
are
52:56
like
52:56
a
52:56
massage
52:57
chair.
52:57
Yeah.
52:59
Gentle
53:00
rollers
53:01
for
53:01
people's
53:02
hearts,
53:02
you
53:02
know,
53:02
that's
53:02
what
53:02
you're
53:02
looking.
53:03
Yes.
53:03
Oh,
53:04
my
53:04
God.
53:04
Oh,
53:04
my
53:05
God.
53:05
And
53:05
the
53:05
alligator
53:06
store.
53:06
I
53:06
could
53:06
definitely
53:06
sink
53:07
my
53:07
teeth
53:07
into
53:07
that.
53:07
All
53:08
right,
53:08
Kelly.
53:09
Last
53:09
one.
53:09
Liquid
53:10
Death's
53:11
pit
53:11
Diaper,
53:12
priced
53:12
at
53:13
75,
53:13
is
53:14
reportedly
53:14
flying
53:15
off
53:15
shelves
53:16
following
53:16
a
53:17
viral
53:17
bathroom
53:18
incident
53:18
at
53:18
a
53:18
recent
53:19
San
53:19
Francisco
53:20
concert.
53:21
At
53:21
$75.
53:23
And
53:23
as
53:23
an
53:23
esteemed
53:24
retail
53:24
consultant,
53:25
do
53:26
you
53:26
think
53:26
the
53:26
pit
53:26
diaper
53:27
is
53:27
underpriced?
53:28
Overpriced,
53:29
or
53:29
properly
53:30
priced?
53:32
You
53:32
know,
53:33
I
53:33
was
53:33
sad
53:34
to
53:34
Google
53:34
pit
53:34
diaper.
53:35
That
53:35
was
53:35
a
53:36
wild
53:37
visual
53:37
to
53:37
start
53:38
my
53:38
day.
53:39
But
53:40
it
53:40
is
53:41
worth
53:41
do,
53:41
though.
53:41
It
53:42
is
53:42
worth
53:42
the
53:42
dude.
53:43
Yeah.
53:43
Doing
53:44
it.
53:44
Proceed
53:45
with
53:45
caution.
53:47
I
53:47
would
53:47
say
53:48
appropriately
53:48
price.
53:49
If
53:49
it's
53:49
flying
53:49
off
53:50
the
53:50
shelf,
53:50
you
53:51
know,
53:51
keep
53:52
going
53:52
with
53:52
it,
53:53
guys.
53:55
You
53:56
know,
53:56
a
53:56
diaper,
53:57
I
53:57
had
53:57
to
53:57
look
53:57
this
53:58
up
53:58
to
53:58
see,
53:58
you
53:59
know,
53:59
what
53:59
is
53:59
just
53:59
a
53:59
regular
54:00
diaper
54:00
cost
54:01
nowadays.
54:01
It's.
54:02
It's
54:02
probably
54:03
double
54:04
the
54:04
cost
54:04
of
54:04
a
54:05
adult
54:05
diaper.
54:06
30
54:06
pack.
54:06
So
54:07
it's
54:07
definitely
54:08
expensive,
54:09
but,
54:10
you
54:10
know,
54:10
it's
54:11
got
54:11
the
54:11
chains,
54:12
it's
54:12
got
54:12
the
54:13
pleather,
54:14
and
54:15
people
54:15
will
54:15
spend
54:15
a
54:16
lot
54:16
of
54:16
money
54:16
for
54:16
that
54:16
kind
54:17
of
54:17
rave
54:17
gear.
54:18
That's
54:18
not
54:18
my.
54:19
My
54:19
personal
54:20
shopping
54:20
space.
54:20
But
54:21
I
54:21
think
54:23
as
54:23
long
54:23
as
54:23
they
54:23
can
54:24
ride
54:24
this
54:24
high,
54:25
keep
54:26
doing
54:26
it.
54:26
75.
54:27
I
54:27
think
54:27
it's
54:27
right
54:27
price.
54:28
No
54:28
reason
54:28
to
54:28
raise
54:28
the
54:29
price.
54:29
Get
54:29
any
54:29
more
54:29
margin.
54:30
And
54:30
I
54:30
could
54:30
see
54:31
you
54:31
wearing
54:31
one
54:31
of
54:31
these
54:31
because
54:32
you're
54:32
a
54:32
frequent
54:32
concert
54:33
goer.
54:33
What
54:33
do
54:33
you
54:33
think?
54:33
Could
54:34
you
54:34
could,
54:34
like,
54:34
can
54:34
we
54:35
see
54:35
you
54:35
wearing
54:35
one
54:35
of
54:35
these
54:35
at
54:36
a
54:36
future.
54:37
No.
54:38
I
54:38
am
54:39
too
54:39
old.
54:39
I.
54:40
This.
54:40
I
54:40
am
54:40
too
54:41
old
54:41
for
54:41
this.
54:41
I'm
54:42
not
54:42
in
54:42
the
54:42
pit
54:42
anymore.
54:43
I
54:43
am.
54:44
I
54:44
am.
54:44
I
54:45
am
54:45
paying
54:45
the
54:45
extra
54:46
money
54:46
for
54:46
the
54:47
VIP
54:47
tickets
54:48
with
54:48
their
54:48
own
54:48
bathroom.
54:49
Chris.
54:49
I
54:49
am.
54:50
I'm
54:50
so
54:50
beyond
54:51
pit
54:51
diapers.
54:52
Maybe
54:52
back
54:52
in
54:53
my
54:53
20s,
54:53
but.
54:54
And
54:54
the
54:54
pit
54:55
diaper
54:55
appears
54:55
to
54:55
be,
54:56
like,
54:56
worn
54:56
as
54:57
pants
54:57
as
54:57
well.
54:58
You
54:58
know,
54:58
it's
54:58
kind
54:59
of
54:59
under
54:59
your
55:00
clothes.
55:00
It
55:00
is.
55:01
No.
55:01
So
55:02
it's
55:02
for
55:02
the
55:03
bold
55:03
of
55:03
heart,
55:04
for
55:04
sure.
55:04
I'm
55:04
going
55:04
to
55:04
be.
55:05
I'm
55:05
going
55:05
to
55:05
be
55:05
going
55:06
away
55:06
from
55:06
the
55:06
people
55:07
wearing
55:07
pit
55:07
diapers.
55:08
Let
55:08
me
55:08
just
55:08
tell
55:08
you
55:08
that
55:09
it's
55:09
not
55:09
going
55:09
to
55:09
smell
55:10
great.
55:10
I
55:10
have
55:10
a
55:10
feeling
55:11
you're
55:11
too
55:12
old
55:12
for
55:12
the
55:12
pit.
55:13
All
55:13
right,
55:13
on
55:13
that
55:13
note,
55:14
happy
55:14
birthday
55:15
today
55:15
to
55:15
Linda
55:16
Blair,
55:16
Gabriel
55:17
Mock,
55:17
and
55:17
to
55:18
a
55:18
woman
55:18
with
55:18
timeless
55:18
beauty,
55:19
the
55:19
always
55:19
captivating
55:20
Diane
55:21
Lane.
55:21
And
55:22
remember,
55:22
if
55:22
you
55:22
can
55:22
only
55:23
read
55:23
or
55:23
listen
55:23
to
55:23
one
55:23
retail
55:24
blog
55:24
in
55:24
the
55:24
business,
55:24
Make
55:25
It
55:25
Omnitok,
55:25
the
55:25
only
55:26
retail
55:26
media
55:26
outlet
55:26
run
55:27
by
55:27
two
55:27
two
55:27
former
55:27
executives
55:28
from
55:28
a
55:28
top
55:28
10
55:29
US
55:29
retailer.
55:31
Our
55:32
weekly
55:32
Fast
55:32
Five
55:33
podcast
55:33
is
55:33
the
55:33
quickest,
55:34
fastest
55:34
rundown
55:34
of
55:34
all
55:35
the
55:35
week's
55:35
top
55:35
news
55:35
in
55:36
our
55:36
daily
55:36
newsletter.
55:36
The
55:36
Retail
55:37
Daily
55:37
Minute
55:37
tells
55:38
you
55:38
all
55:38
you
55:38
need
55:38
to
55:38
know
55:38
each
55:39
day
55:39
to
55:39
stay
55:39
on
55:39
top
55:39
of
55:40
your
55:40
game
55:40
as
55:40
a
55:40
retail
55:41
executive
55:41
and
55:42
also
55:42
regularly
55:42
features
55:43
content
55:43
that
55:44
is
55:44
special
55:45
and
55:45
exclusive
55:45
to
55:46
us
55:46
that
55:46
Ann
55:46
and
55:47
I
55:47
take
55:47
a
55:47
lot
55:47
of
55:47
pride
55:48
in
55:48
doing
55:48
just
55:48
for
55:49
you.
55:49
Thanks
55:49
as
55:49
always
55:49
for
55:50
listening
55:50
in.
55:50
Please
55:50
remember
55:51
like
55:51
and
55:51
leave
55:51
us
55:51
a
55:51
review
55:52
wherever
55:52
you
55:52
happen
55:53
and
55:53
listen
55:53
to
55:53
your
55:53
podcast
55:54
or
55:54
on
55:54
YouTube.
55:55
You
55:55
can
55:55
follow
55:55
us
55:56
today
55:56
by
55:56
simply
55:56
going
55:57
to
55:57
YouTube.com
55:58
omnitalk
55:59
retail.
56:00
And
56:00
we
56:01
have
56:01
over
56:01
100,000
56:02
subscribers
56:03
to
56:03
our
56:03
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56:04
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56:04
now.
56:04
Yes.
56:05
Thank
56:05
you
56:06
everyone.
56:06
Thank
56:07
you
56:07
to
56:07
everyone
56:07
for
56:08
that.
56:08
And
56:08
if
56:08
you
56:09
still
56:09
haven't
56:09
joined
56:09
the
56:09
party
56:10
to
56:10
watch
56:10
our
56:10
weekly
56:11
fast
56:11
five
56:11
through
56:12
the
56:12
best
56:12
medium
56:13
out
56:13
there,
56:13
go
56:13
to
56:14
YouTube.com
56:14
omnitalk
56:15
retail.
56:16
Kelly,
56:16
if
56:17
people
56:17
want
56:17
to
56:17
get
56:17
in
56:17
touch
56:18
with
56:18
you
56:18
or
56:18
anyone
56:18
at
56:19
the
56:19
A
56:19
and
56:19
M
56:19
Consumer
56:20
and
56:20
Retail
56:20
Group,
56:21
what's
56:21
the
56:21
best
56:21
way
56:22
for
56:22
them
56:22
to
56:22
do
56:22
that?
56:23
If
56:23
you
56:23
guys
56:24
want
56:24
to
56:24
get
56:24
a
56:24
hold
56:24
of
56:25
us,
56:25
please
56:25
find
56:25
us
56:26
at
56:26
our
56:26
website
56:27
at
56:27
Alvarez
56:28
and
56:28
marcel-crg.com
56:30
you
56:31
can
56:31
also
56:31
find
56:31
us
56:32
on
56:32
LinkedIn,
56:33
Alvarez
56:33
and
56:34
Marcel
56:34
Consumer
56:34
and
56:35
Retail
56:35
Group,
56:36
or
56:36
feel
56:36
free
56:36
to
56:37
reach
56:37
out
56:37
to
56:38
John
56:38
and
56:38
myself
56:38
directly
56:39
on
56:39
LinkedIn.
56:40
Thank
56:40
you
56:40
both
56:40
for
56:41
being
56:41
on
56:41
our
56:41
show
56:41
this
56:41
week.
56:41
It
56:42
was
56:42
a
56:42
great
56:42
show,
56:43
very
56:43
informative,
56:44
very
56:44
insightful.
56:44
Always
56:45
a
56:45
pleasure
56:45
having
56:45
you
56:46
both
56:46
on.
56:46
And
56:47
so
56:47
until
56:47
next
56:47
week,
56:48
on
56:48
behalf
56:48
of
56:48
John,
56:49
Kelly,
56:49
Ann
56:50
and
56:50
myself
56:50
and
56:51
everyone
56:51
at
56:51
the
56:51
A
56:51
and
56:51
M
56:51
Consumer
56:52
and
56:52
Retail
56:52
Group
56:52
and
56:53
all
56:53
of
56:53
us
56:53
here
56:53
at
56:53
Omni
56:54
Talk
56:54
Retail,
56:55
as
56:55
always,
56:55
be
56:55
careful
56:56
out
56:56
there.