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Target & Ulta Beauty Partnership ENDS In 2026 - Retail's Biggest Breakup | Fast Five Shorts · Omni Talk Retail

• 0:00
  Ulta
• 0:00
  and
• 0:00
  Target
• 0:01
  are
• 0:01
  planning
• 0:01
  to
• 0:02
  conclude
• 0:02
  their
• 0:02
  shop
• 0:03
  and
• 0:03
  shop
• 0:03
  partnership
• 0:04
  in
• 0:04
  2026.
• 0:05
  Chris
• 0:05
  just
• 0:06
  can't
• 0:06
  wait
• 0:06
  to
• 0:06
  get
• 0:06
  to
• 0:06
  it.
• 0:07
  According
• 0:07
  to
• 0:07
  the
• 0:08
  Path
• 0:08
  to
• 0:08
  Purchase
• 0:08
  Institute,
• 0:09
  Ulta
• 0:09
  Beauty
• 0:10
  and
• 0:10
  Target
• 0:10
  have
• 0:10
  announced
• 0:11
  that
• 0:11
  their
• 0:11
  shop
• 0:11
  and
• 0:11
  shop
• 0:12
  partnership,
• 0:12
  Ulta
• 0:12
  Beauty
• 0:13
  at
• 0:13
  Target,
• 0:13
  will
• 0:13
  conclude
• 0:14
  when
• 0:14
  the
• 0:14
  current
• 0:14
  agreement
• 0:15
  ends
• 0:15
  in
• 0:16
  August
• 0:16
  of
• 0:16
  2026.
• 0:17
  Until
• 0:18
  then,
• 0:18
  the
• 0:18
  experience
• 0:18
  will
• 0:19
  continue
• 0:19
  in
• 0:19
  stores
• 0:20
  and
• 0:20
  online
• 0:20
  with
• 0:21
  Ulta
• 0:21
  Beauty
• 0:21
  Rewards
• 0:22
  remaining
• 0:22
  active
• 0:23
  for
• 0:23
  eligible
• 0:23
  purchases.
• 0:24
  Both
• 0:24
  companies
• 0:25
  emphasize
• 0:25
  that
• 0:25
  they
• 0:25
  will
• 0:26
  continue
• 0:26
  to
• 0:26
  maintain
• 0:27
  product
• 0:27
  availability
• 0:28
  and
• 0:28
  a
• 0:28
  seamless
• 0:28
  shopping
• 0:29
  experience
• 0:30
  until
• 0:30
  the
• 0:30
  partnership
• 0:30
  officially
• 0:31
  ends.
• 0:31
  Don't
• 0:31
  think
• 0:32
  it'd
• 0:32
  be
• 0:32
  funny
• 0:32
  if
• 0:32
  they're
• 0:32
  just
• 0:33
  like
• 0:33
  Matt,
• 0:33
  we're
• 0:33
  just
• 0:33
  going
• 0:34
  to
• 0:34
  give
• 0:34
  up.
• 0:34
  Like,
• 0:35
  yes,
• 0:35
  of
• 0:35
  course
• 0:35
  you
• 0:35
  have
• 0:36
  to
• 0:36
  maintain
• 0:36
  this
• 0:36
  to.
• 0:37
  I
• 0:37
  actually
• 0:37
  wish
• 0:38
  they
• 0:38
  would
• 0:38
  just
• 0:38
  say
• 0:38
  that.
• 0:38
  Yeah,
• 0:40
  I
• 0:40
  know.
• 0:40
  All
• 0:41
  right.
• 0:41
  Well
• 0:41
  Chris,
• 0:42
  this
• 0:42
  also
• 0:42
  happens
• 0:43
  to
• 0:43
  be
• 0:43
  the
• 0:43
  A
• 0:43
  and
• 0:43
  M
• 0:44
  put
• 0:44
  you
• 0:44
  on
• 0:44
  the
• 0:44
  spot
• 0:44
  question
• 0:45
  of
• 0:45
  the
• 0:45
  week.
• 0:45
  All
• 0:46
  right.
• 0:46
  They
• 0:47
  want
• 0:47
  to
• 0:47
  know,
• 0:47
  Chris,
• 0:48
  given
• 0:48
  the
• 0:48
  resilience
• 0:49
  of
• 0:49
  the
• 0:49
  beauty
• 0:49
  segment
• 0:50
  in
• 0:50
  retail
• 0:50
  and
• 0:50
  Target's
• 0:51
  challenges,
• 0:51
  does
• 0:52
  the
• 0:52
  end
• 0:52
  of
• 0:52
  this
• 0:52
  partnership
• 0:53
  more
• 0:53
  strongly
• 0:54
  signal
• 0:54
  how
• 0:54
  retailers
• 0:55
  should
• 0:55
  refocus
• 0:56
  on
• 0:56
  their
• 0:57
  standalone
• 0:57
  retail
• 0:58
  experience
• 0:59
  over
• 0:59
  a
• 0:59
  store
• 1:00
  and
• 1:00
  store,
• 1:00
  or
• 1:01
  does
• 1:01
  it
• 1:01
  signal
• 1:02
  just
• 1:02
  how
• 1:02
  deep
• 1:02
  Target
• 1:03
  struggles
• 1:04
  go?
• 1:05
  Oh
• 1:05
  man,
• 1:07
  that
• 1:07
  is
• 1:07
  such
• 1:07
  a
• 1:07
  good
• 1:08
  question.
• 1:08
  That
• 1:08
  actually
• 1:09
  may
• 1:09
  be
• 1:09
  my,
• 1:09
  my
• 1:10
  all
• 1:10
  time
• 1:10
  favorite
• 1:11
  put
• 1:11
  you
• 1:11
  on
• 1:11
  the
• 1:12
  spot
• 1:12
  question.
• 1:13
  Like
• 1:13
  without
• 1:13
  a
• 1:13
  doubt
• 1:14
  because
• 1:14
  I
• 1:15
  think
• 1:15
  the
• 1:15
  answer
• 1:15
  is
• 1:15
  it.
• 1:16
  It
• 1:16
  signals
• 1:16
  both,
• 1:17
  quite
• 1:17
  frankly.
• 1:17
  And
• 1:18
  it
• 1:18
  also
• 1:18
  helps
• 1:19
  explain
• 1:19
  why
• 1:19
  Target
• 1:20
  stock
• 1:20
  took
• 1:21
  took
• 1:21
  a
• 1:21
  major
• 1:21
  dip
• 1:22
  today
• 1:22
  with
• 1:22
  the
• 1:22
  new
• 1:22
  CEO
• 1:23
  announcement.
• 1:24
  You
• 1:24
  know,
• 1:25
  if
• 1:25
  I
• 1:25
  look
• 1:25
  back
• 1:26
  on
• 1:26
  this
• 1:26
  headline,
• 1:27
  let's
• 1:27
  just
• 1:27
  keep
• 1:27
  it
• 1:27
  on
• 1:28
  the
• 1:28
  headline.
• 1:28
  Yep,
• 1:29
  Target
• 1:29
  appears
• 1:30
  to
• 1:30
  have
• 1:30
  crapped
• 1:30
  the
• 1:30
  bet
• 1:30
  on
• 1:30
  this
• 1:31
  one
• 1:32
  and
• 1:32
  Lord
• 1:32
  knows
• 1:32
  the
• 1:33
  reasons
• 1:33
  why
• 1:33
  Alta
• 1:33
  is
• 1:34
  pulling
• 1:34
  out.
• 1:34
  You
• 1:35
  know,
• 1:35
  but
• 1:35
  it
• 1:36
  is
• 1:36
  a
• 1:36
  big,
• 1:36
  big
• 1:37
  about
• 1:37
  face
• 1:37
  and
• 1:38
  it's
• 1:38
  an
• 1:38
  about
• 1:38
  face
• 1:38
  that's
• 1:39
  happened
• 1:39
  rather
• 1:39
  quickly.
• 1:40
  Was
• 1:40
  it
• 1:40
  operations?
• 1:41
  Was
• 1:42
  it
• 1:42
  the
• 1:42
  brand
• 1:42
  standards?
• 1:43
  Who
• 1:44
  knows?
• 1:44
  Time
• 1:45
  will
• 1:45
  tell.
• 1:45
  We'll
• 1:45
  probably
• 1:45
  get
• 1:46
  answers
• 1:46
  to
• 1:46
  that
• 1:46
  over
• 1:47
  time.
• 1:47
  But
• 1:47
  now
• 1:48
  Target
• 1:48
  is
• 1:49
  faced
• 1:49
  with
• 1:49
  a
• 1:49
  really
• 1:49
  tough
• 1:49
  situation.
• 1:50
  It
• 1:50
  has
• 1:50
  to
• 1:51
  comp
• 1:51
  against
• 1:51
  the
• 1:51
  loss
• 1:52
  of
• 1:52
  what
• 1:53
  has
• 1:53
  been
• 1:53
  publicly
• 1:53
  stated
• 1:54
  as
• 1:54
  one
• 1:54
  of
• 1:54
  its
• 1:55
  biggest
• 1:55
  comp
• 1:55
  drivers
• 1:56
  ever
• 1:56
  since
• 1:57
  the
• 1:57
  partnership
• 1:58
  started.
• 1:58
  At
• 1:58
  least
• 1:58
  that
• 1:59
  is
• 1:59
  my
• 1:59
  recollection
• 2:00
  of
• 2:00
  reading
• 2:00
  the
• 2:00
  recent
• 2:01
  earnings
• 2:01
  reports
• 2:01
  for
• 2:02
  the
• 2:02
  last
• 2:02
  two
• 2:02
  years.
• 2:02
  It's
• 2:03
  every
• 2:03
  call,
• 2:04
  it's
• 2:04
  been
• 2:04
  part
• 2:04
  of
• 2:04
  every
• 2:04
  earnings.
• 2:05
  Right.
• 2:05
  It
• 2:05
  has.
• 2:06
  Right.
• 2:06
  I'm
• 2:06
  not
• 2:06
  making
• 2:07
  that
• 2:07
  up.
• 2:07
  Right?
• 2:07
  No.
• 2:08
  So
• 2:08
  all
• 2:08
  of
• 2:08
  which
• 2:08
  goes
• 2:09
  back
• 2:09
  to
• 2:09
  the
• 2:09
  broader
• 2:09
  question
• 2:10
  now
• 2:10
  of
• 2:10
  shop
• 2:11
  and
• 2:11
  shops,
• 2:11
  which
• 2:11
  A
• 2:11
  and
• 2:11
  M
• 2:12
  smartly
• 2:12
  is
• 2:12
  asking.
• 2:13
  You
• 2:13
  have
• 2:14
  to
• 2:14
  tread
• 2:14
  carefully
• 2:15
  into
• 2:15
  them
• 2:15
  and
• 2:15
  you
• 2:16
  have
• 2:16
  to
• 2:16
  ask
• 2:16
  yourself
• 2:16
  the
• 2:17
  question,
• 2:17
  are
• 2:18
  you
• 2:18
  a
• 2:18
  mall
• 2:19
  or
• 2:19
  are
• 2:19
  you
• 2:19
  a
• 2:20
  retailer?
• 2:20
  Under
• 2:21
  Brian
• 2:21
  Cornell,
• 2:22
  Target
• 2:22
  has
• 2:22
  overtly
• 2:23
  tried
• 2:23
  to
• 2:23
  become
• 2:24
  or
• 2:24
  under
• 2:24
  Brian
• 2:25
  Cornell,
• 2:25
  I
• 2:26
  have
• 2:26
  to
• 2:26
  say
• 2:26
  in
• 2:26
  the
• 2:26
  past
• 2:26
  tense
• 2:27
  now,
• 2:27
  Target
• 2:28
  overtly
• 2:29
  tried
• 2:29
  to
• 2:29
  become
• 2:29
  a
• 2:30
  mall
• 2:30
  and
• 2:31
  the
• 2:31
  next
• 2:31
  place
• 2:31
  it's
• 2:32
  going
• 2:32
  to
• 2:32
  bite
• 2:32
  them
• 2:32
  in
• 2:33
  the
• 2:33
  rear
• 2:34
  is
• 2:34
  with
• 2:34
  the
• 2:34
  CVS
• 2:35
  partnership.
• 2:36
  Because
• 2:37
  food
• 2:38
  is
• 2:38
  medicine
• 2:38
  is
• 2:39
  the
• 2:39
  biggest
• 2:39
  trend
• 2:39
  that's
• 2:40
  going
• 2:40
  to
• 2:40
  shape
• 2:40
  grocery
• 2:41
  over
• 2:41
  the
• 2:41
  next
• 2:41
  10
• 2:41
  years
• 2:42
  and
• 2:42
  even
• 2:42
  longer.
• 2:43
  And
• 2:43
  Target
• 2:43
  gave
• 2:44
  away
• 2:44
  the
• 2:44
  RX
• 2:45
  tie
• 2:45
  ins
• 2:45
  to
• 2:45
  that
• 2:46
  trend.
• 2:46
  The
• 2:47
  impacts
• 2:47
  of
• 2:47
  that
• 2:47
  aren't
• 2:48
  felt
• 2:48
  yet
• 2:48
  either,
• 2:48
  but
• 2:49
  they
• 2:49
  soon
• 2:49
  are
• 2:49
  going
• 2:49
  to
• 2:50
  be
• 2:50
  as
• 2:50
  Walmart
• 2:50
  and
• 2:51
  other
• 2:51
  grocers
• 2:51
  get
• 2:52
  smarter
• 2:52
  on
• 2:52
  how
• 2:52
  to
• 2:53
  tailor
• 2:53
  their
• 2:53
  assortments
• 2:54
  and
• 2:54
  their
• 2:55
  RX
• 2:55
  loyalty
• 2:55
  reward
• 2:56
  programs
• 2:56
  to
• 2:57
  capitalize
• 2:57
  on
• 2:57
  that
• 2:57
  trend.
• 2:58
  Where
• 2:58
  Target's
• 2:58
  going
• 2:58
  to
• 2:58
  be
• 2:59
  hamstring,
• 2:59
  they're
• 2:59
  going
• 2:59
  to
• 2:59
  be
• 2:59
  having
• 2:59
  to
• 3:00
  work
• 3:00
  through
• 3:00
  CVS
• 3:01
  with
• 3:01
  that.
• 3:01
  That's
• 3:02
  going
• 3:02
  to
• 3:02
  be
• 3:02
  impossible.
• 3:03
  So
• 3:04
  that's
• 3:04
  going
• 3:04
  to
• 3:04
  mean
• 3:04
  less
• 3:05
  and
• 3:05
  less
• 3:05
  traffic
• 3:05
  to
• 3:06
  Target
• 3:06
  in
• 3:06
  the
• 3:06
  years
• 3:07
  to
• 3:07
  come.
• 3:08
  So
• 3:08
  yet
• 3:08
  it's
• 3:08
  yet
• 3:09
  another
• 3:09
  sign
• 3:10
  to
• 3:10
  me
• 3:12
  and
• 3:12
  this
• 3:12
  is,
• 3:13
  I
• 3:13
  thought
• 3:13
  about
• 3:13
  the
• 3:13
  best
• 3:14
  quote
• 3:14
  to,
• 3:15
  to
• 3:15
  capture
• 3:16
  my
• 3:16
  thoughts
• 3:16
  on
• 3:16
  Target
• 3:17
  and
• 3:17
  Brian
• 3:17
  Cornell's
• 3:18
  tenure.
• 3:19
  A
• 3:19
  rival
• 3:19
  CEO
• 3:20
  exec
• 3:21
  told
• 3:21
  me
• 3:21
  about
• 3:22
  Brian
• 3:22
  Cornell
• 3:22
  one
• 3:23
  time
• 3:23
  that
• 3:23
  Brian,
• 3:24
  this
• 3:24
  is
• 3:24
  a
• 3:25
  CEO
• 3:25
  of
• 3:25
  a
• 3:25
  ten
• 3:26
  plus
• 3:26
  billion
• 3:26
  dollar
• 3:27
  retailer.
• 3:27
  This
• 3:28
  is
• 3:28
  a
• 3:28
  real
• 3:28
  quote.
• 3:28
  He
• 3:28
  said
• 3:29
  to
• 3:29
  me,
• 3:29
  Brian
• 3:29
  Cornell
• 3:30
  wouldn't
• 3:30
  understand
• 3:30
  my
• 3:31
  strategy
• 3:31
  if
• 3:31
  I
• 3:31
  wrote
• 3:32
  it
• 3:32
  down
• 3:32
  and
• 3:32
  handed
• 3:33
  it
• 3:33
  to
• 3:33
  him
• 3:33
  on
• 3:33
  a
• 3:34
  cocktail
• 3:34
  napkin.
• 3:35
  That's
• 3:35
  what's
• 3:35
  at
• 3:36
  play
• 3:36
  here
• 3:36
  folks.
• 3:36
  And
• 3:37
  that's
• 3:37
  what
• 3:37
  this,
• 3:37
  that's
• 3:38
  what
• 3:38
  this
• 3:38
  headline
• 3:38
  says
• 3:39
  to
• 3:39
  me
• 3:39
  in
• 3:39
  terms
• 3:40
  of
• 3:40
  looking
• 3:40
  back
• 3:41
  on
• 3:41
  everything
• 3:41
  that's
• 3:42
  happened
• 3:42
  under
• 3:42
  his
• 3:42
  tenure
• 3:43
  over
• 3:43
  the
• 3:43
  last,
• 3:43
  what
• 3:43
  is
• 3:43
  it,
• 3:44
  11
• 3:44
  years.
• 3:44
  And
• 3:44
  I
• 3:45
  think
• 3:45
  he's
• 3:45
  been
• 3:45
  there.
• 3:46
  I
• 3:46
  think
• 3:46
  so.
• 3:46
  2014.
• 3:47
  Yeah.
• 3:48
  So,
• 3:49
  yeah,
• 3:49
  this
• 3:50
  cuts,
• 3:50
  man.
• 3:51
  I
• 3:51
  just,
• 3:52
  I
• 3:52
  read
• 3:52
  this
• 3:52
  and
• 3:52
  I
• 3:53
  was
• 3:53
  just,
• 3:53
  I'm
• 3:54
  again,
• 3:54
  I'm
• 3:55
  really
• 3:56
  bummed
• 3:56
  that
• 3:56
  this
• 3:57
  is
• 3:57
  happening.
• 3:57
  I
• 3:57
  don't
• 3:58
  know
• 3:58
  how
• 3:58
  else
• 3:58
  to
• 3:58
  say
• 3:58
  it.
• 3:59
  I,
• 4:00
  I
• 4:00
  do
• 4:00
  think
• 4:01
  though,
• 4:01
  this
• 4:02
  is,
• 4:02
  this
• 4:02
  is
• 4:03
  really
• 4:03
  going
• 4:03
  to
• 4:03
  be
• 4:04
  something
• 4:04
  that
• 4:05
  the
• 4:05
  street's
• 4:05
  going
• 4:05
  to
• 4:06
  be
• 4:06
  watching,
• 4:06
  that
• 4:06
  consumers
• 4:07
  are
• 4:07
  going
• 4:07
  to
• 4:07
  be
• 4:07
  watching
• 4:08
  to
• 4:08
  really
• 4:08
  see.
• 4:09
  Because
• 4:09
  this
• 4:10
  is
• 4:10
  an
• 4:10
  opportunity
• 4:10
  to
• 4:11
  see
• 4:12
  have
• 4:12
  Target
• 4:12
  show
• 4:12
  what
• 4:13
  it's
• 4:13
  made
• 4:13
  of.
• 4:14
  Can
• 4:14
  Rick
• 4:14
  Gomez
• 4:15
  and
• 4:15
  the
• 4:15
  team
• 4:15
  bring
• 4:15
  the
• 4:16
  right
• 4:16
  product
• 4:16
  assortment
• 4:17
  into
• 4:17
  the
• 4:17
  store?
• 4:18
  That's
• 4:19
  going
• 4:19
  to
• 4:20
  supplement
• 4:20
  what
• 4:21
  this,
• 4:21
  you
• 4:21
  know,
• 4:22
  the
• 4:22
  Ulta
• 4:22
  beauty
• 4:23
  traffic
• 4:23
  drivers
• 4:23
  were.
• 4:24
  And
• 4:25
  that's
• 4:25
  where
• 4:25
  that,
• 4:26
  like
• 4:26
  I've,
• 4:27
  I've
• 4:27
  said
• 4:28
  this
• 4:28
  to
• 4:28
  several
• 4:28
  people,
• 4:29
  like
• 4:29
  beauty
• 4:30
  especially,
• 4:31
  but
• 4:31
  Target
• 4:31
  in
• 4:32
  general,
• 4:32
  it's
• 4:32
  about
• 4:33
  this
• 4:33
  creativity,
• 4:34
  this
• 4:34
  design
• 4:35
  at
• 4:35
  this
• 4:36
  price
• 4:36
  point
• 4:36
  that
• 4:36
  amassed
• 4:37
  audience
• 4:38
  can
• 4:38
  adopt.
• 4:38
  And
• 4:39
  I
• 4:39
  really
• 4:39
  worry
• 4:40
  because
• 4:40
  for
• 4:40
  the
• 4:41
  last
• 4:41
  several
• 4:41
  years
• 4:42
  Target
• 4:42
  has
• 4:43
  been
• 4:43
  decreasing
• 4:44
  the
• 4:44
  priority
• 4:45
  of
• 4:46
  making
• 4:47
  things
• 4:47
  uniquely
• 4:48
  Target.
• 4:48
  They've
• 4:49
  Been
• 4:49
  decreasing.
• 4:49
  The
• 4:50
  other
• 4:50
  problem
• 4:50
  with
• 4:50
  the
• 4:50
  most
• 4:51
  decreasing.
• 4:51
  The
• 4:52
  decreasing
• 4:52
  the
• 4:52
  brand.
• 4:53
  Like
• 4:54
  the
• 4:55
  priority
• 4:55
  has
• 4:55
  been
• 4:56
  on
• 4:56
  how
• 4:56
  do
• 4:56
  we
• 4:56
  compete
• 4:57
  with
• 4:57
  Amazon
• 4:57
  and
• 4:57
  Walmart.
• 4:58
  And
• 4:58
  that's
• 4:58
  a,
• 4:58
  that's
• 4:59
  a
• 4:59
  race
• 4:59
  to
• 4:59
  the
• 4:59
  bottom.
• 5:00
  You're
• 5:00
  never
• 5:00
  going
• 5:00
  to
• 5:00
  beat
• 5:00
  them
• 5:01
  on
• 5:01
  price.
• 5:01
  You're
• 5:01
  never
• 5:01
  going
• 5:02
  to
• 5:02
  beat
• 5:02
  them.
• 5:02
  And
• 5:03
  like
• 5:03
  people
• 5:04
  are
• 5:04
  going
• 5:04
  to,
• 5:04
  people
• 5:05
  are
• 5:05
  going
• 5:05
  to
• 5:05
  Walmart
• 5:06
  and
• 5:06
  Amazon
• 5:07
  right
• 5:07
  now
• 5:07
  and
• 5:07
  there's
• 5:07
  no
• 5:08
  way
• 5:08
  to
• 5:08
  stop
• 5:08
  them.
• 5:09
  Had
• 5:10
  that
• 5:10
  core,
• 5:11
  that
• 5:11
  identity,
• 5:11
  that
• 5:12
  Target,
• 5:12
  that
• 5:12
  thing
• 5:13
  that
• 5:13
  made
• 5:13
  you
• 5:13
  so
• 5:13
  strong.
• 5:14
  And
• 5:14
  beauty
• 5:15
  is
• 5:15
  one
• 5:15
  of
• 5:15
  these
• 5:15
  key
• 5:16
  categories
• 5:17
  where
• 5:17
  you
• 5:17
  going
• 5:18
  to
• 5:18
  need
• 5:18
  to
• 5:18
  figure
• 5:19
  out
• 5:19
  how
• 5:19
  to
• 5:19
  bring
• 5:20
  those
• 5:20
  people
• 5:20
  back
• 5:21
  and
• 5:21
  how
• 5:21
  to
• 5:21
  create
• 5:22
  that,
• 5:22
  how
• 5:23
  to
• 5:23
  really
• 5:23
  invest
• 5:23
  there
• 5:24
  in
• 5:24
  the
• 5:24
  type
• 5:24
  of
• 5:25
  beauty
• 5:25
  product
• 5:25
  that's
• 5:26
  going
• 5:26
  to
• 5:26
  reach
• 5:26
  that
• 5:27
  mass
• 5:27
  audience.
• 5:27
  And
• 5:28
  that's
• 5:28
  where
• 5:28
  I
• 5:28
  worry.
• 5:29
  I'm
• 5:29
  like
• 5:29
  Target,
• 5:29
  you
• 5:29
  got
• 5:30
  to
• 5:30
  focus
• 5:30
  inward
• 5:31
  right
• 5:31
  now
• 5:31
  on
• 5:31
  yourself.
• 5:32
  Quit
• 5:33
  worrying
• 5:33
  about
• 5:33
  the
• 5:33
  shop
• 5:33
  and
• 5:34
  shops
• 5:34
  and
• 5:34
  these
• 5:34
  other
• 5:34
  things.
• 5:35
  How
• 5:35
  are
• 5:35
  you
• 5:35
  going
• 5:36
  to
• 5:36
  get
• 5:36
  back
• 5:36
  to
• 5:36
  core
• 5:37
  Target
• 5:37
  which
• 5:37
  is
• 5:37
  really
• 5:38
  establishing
• 5:38
  yourself
• 5:39
  as
• 5:39
  a
• 5:39
  brand
• 5:39
  that
• 5:40
  has
• 5:40
  a
• 5:40
  point
• 5:40
  of
• 5:40
  view.
• 5:41
  Yeah.
• 5:42
  100
• 5:42
  and
• 5:42
  that.
• 5:43
  And,
• 5:43
  and
• 5:43
  you're,
• 5:43
  you're
• 5:44
  dead
• 5:44
  right.
• 5:44
  Like
• 5:44
  you,
• 5:45
  you
• 5:45
  have
• 5:45
  to
• 5:45
  keep
• 5:45
  control
• 5:45
  of
• 5:46
  those
• 5:46
  businesses.
• 5:46
  That's
• 5:46
  why
• 5:46
  I
• 5:47
  made
• 5:47
  the
• 5:47
  point
• 5:47
  about
• 5:47
  pharmacy.
• 5:48
  Like
• 5:48
  right,
• 5:49
  if
• 5:49
  Walmart
• 5:49
  can
• 5:49
  run
• 5:50
  a
• 5:50
  pharmacy,
• 5:50
  Costco
• 5:50
  can
• 5:51
  run
• 5:51
  a
• 5:51
  pharmacy,
• 5:51
  Safeway
• 5:52
  Albertsons
• 5:52
  can
• 5:52
  run
• 5:53
  a
• 5:53
  pharmacy,
• 5:53
  why
• 5:53
  can't
• 5:54
  you
• 5:54
  Target
• 5:54
  like.
• 5:55
  Well,
• 5:55
  that
• 5:55
  was
• 5:55
  a
• 5:55
  really
• 5:55
  short
• 5:56
  sighted
• 5:56
  move
• 5:56
  too
• 5:57
  in
• 5:57
  retrospect,
• 5:58
  in
• 5:58
  my
• 5:58
  opinion.
• 5:59
  So
• 5:59
  like,
• 6:00
  you
• 6:00
  know,
• 6:01
  and
• 6:01
  it's
• 6:01
  just
• 6:01
  gonna,
• 6:01
  it's
• 6:01
  just
• 6:01
  gonna
• 6:02
  hurt
• 6:02
  them
• 6:02
  in
• 6:02
  the
• 6:02
  long
• 6:02
  run.
• 6:03
  And,
• 6:03
  and
• 6:03
  the
• 6:04
  good
• 6:04
  news
• 6:04
  though,
• 6:04
  Ann,
• 6:05
  if
• 6:05
  I
• 6:05
  have
• 6:05
  a
• 6:05
  silver
• 6:05
  lining
• 6:06
  on
• 6:06
  this,
• 6:06
  I
• 6:06
  saw
• 6:06
  Michael
• 6:07
  Fidelke,
• 6:07
  the
• 6:07
  new
• 6:07
  CEO's
• 6:08
  video
• 6:09
  on
• 6:09
  LinkedIn
• 6:10
  today.
• 6:11
  He
• 6:11
  was
• 6:11
  talking
• 6:12
  about
• 6:12
  bringing
• 6:12
  back
• 6:13
  design
• 6:13
  and
• 6:13
  the
• 6:14
  design
• 6:14
  merchandising.
• 6:14
  So
• 6:15
  I
• 6:15
  think
• 6:15
  that's
• 6:15
  the
• 6:15
  right
• 6:16
  thing.
• 6:16
  Now
• 6:16
  there's
• 6:16
  a
• 6:17
  lot
• 6:17
  of
• 6:17
  other
• 6:17
  things
• 6:17
  that
• 6:17
  you
• 6:18
  know,
• 6:18
  may
• 6:18
  or
• 6:18
  that
• 6:18
  could
• 6:19
  give
• 6:19
  or
• 6:19
  take
• 6:19
  with
• 6:19
  that
• 6:19
  video,
• 6:19
  but
• 6:20
  I
• 6:20
  think
• 6:20
  that
• 6:20
  is
• 6:20
  still
• 6:21
  the
• 6:21
  right
• 6:21
  approach
• 6:22
  which
• 6:22
  says
• 6:22
  what
• 6:22
  you
• 6:23
  said
• 6:24
  and
• 6:24
  I'm
• 6:24
  curious
• 6:24
  what
• 6:24
  other
• 6:24
  people
• 6:25
  think
• 6:25
  of
• 6:25
  that
• 6:25
  video.
• 6:25
  Drop
• 6:26
  me
• 6:26
  a
• 6:26
  message
• 6:26
  on
• 6:27
  LinkedIn,
• 6:27
  you
• 6:28
  know,
• 6:28
  because
• 6:28
  I'd
• 6:28
  love
• 6:29
  to
• 6:29
  hear
• 6:29
  your
• 6:29
  thoughts.
• 6:30
  But
• 6:30
  yeah,
• 6:31
  interesting
• 6:31
  time
• 6:31
  for
• 6:31
  Target
• 6:32
  for
• 6:32
  sure.