Latest / Omni Talk Retail / How Coborn’s COO David Best Plans to Innovate Grocery Shopping | Live at FMI 2025

Transcript

How Coborn’s COO David Best Plans to Innovate Grocery Shopping | Live at FMI 2025 · Omni Talk Retail

• 0:00
  Hello,
• 0:00
  everyone.
• 0:01
  Welcome
• 0:01
  back.
• 0:02
  This
• 0:02
  is
• 0:02
  Omnitalk
• 0:03
  Retail.
• 0:03
  I'm
• 0:04
  Chris
• 0:04
  Walton.
• 0:04
  And
• 0:04
  I'm
• 0:04
  Ann
• 0:05
  Mazinga.
• 0:05
  And
• 0:06
  we
• 0:06
  are
• 0:06
  here
• 0:06
  once
• 0:06
  again
• 0:07
  from
• 0:07
  FMI
• 0:08
  at
• 0:08
  the
• 0:08
  Simbi
• 0:08
  booth
• 0:09
  where
• 0:09
  Simbi
• 0:09
  and
• 0:09
  Omnitok
• 0:10
  are
• 0:10
  retail
• 0:11
  single
• 0:11
  source
• 0:12
  of
• 0:12
  truth.
• 0:12
  And
• 0:13
  standing
• 0:13
  between
• 0:13
  us
• 0:14
  to
• 0:14
  give
• 0:14
  his
• 0:14
  point
• 0:14
  of
• 0:14
  view
• 0:15
  on
• 0:15
  the
• 0:15
  truth
• 0:16
  as
• 0:16
  it's
• 0:16
  happening
• 0:17
  in
• 0:17
  grocery
• 0:17
  is
• 0:18
  Coburn's
• 0:18
  president
• 0:19
  and
• 0:19
  chief
• 0:20
  operating
• 0:20
  officer,
• 0:21
  David
• 0:21
  Best.
• 0:22
  David,
• 0:22
  welcome
• 0:23
  to
• 0:23
  omnitalk.
• 0:25
  Thank
• 0:25
  you.
• 0:25
  It's
• 0:26
  great
• 0:26
  to
• 0:26
  be
• 0:26
  here.
• 0:27
  I'm
• 0:27
  putting
• 0:27
  long
• 0:27
  time
• 0:28
  listener,
• 0:28
  long
• 0:28
  time
• 0:29
  fan.
• 0:29
  I
• 0:29
  got
• 0:29
  through
• 0:30
  it.
• 0:30
  I
• 0:30
  got
• 0:30
  through
• 0:30
  it.
• 0:30
  It's
• 0:30
  been
• 0:31
  a
• 0:31
  long
• 0:31
  couple.
• 0:32
  We've
• 0:32
  saved
• 0:32
  the
• 0:33
  best
• 0:33
  for
• 0:33
  last,
• 0:33
  as
• 0:34
  Chris
• 0:34
  would
• 0:34
  say.
• 0:36
  I
• 0:36
  know,
• 0:36
  absolutely.
• 0:38
  David,
• 0:38
  I'm
• 0:39
  so
• 0:39
  thrilled
• 0:40
  that
• 0:40
  you're
• 0:40
  making
• 0:40
  the
• 0:40
  time
• 0:41
  to
• 0:41
  be
• 0:41
  here
• 0:41
  with
• 0:41
  us.
• 0:42
  For
• 0:42
  those
• 0:43
  who
• 0:43
  might
• 0:43
  not
• 0:43
  know
• 0:43
  you,
• 0:44
  who
• 0:44
  might
• 0:44
  not
• 0:44
  know
• 0:44
  Coburns,
• 0:45
  just
• 0:45
  share
• 0:45
  a
• 0:46
  little
• 0:46
  bit
• 0:46
  about
• 0:46
  your
• 0:47
  background,
• 0:47
  your
• 0:48
  role
• 0:48
  and
• 0:48
  about
• 0:48
  Coburns.
• 0:49
  Yeah,
• 0:49
  you
• 0:50
  know,
• 0:50
  first
• 0:50
  of
• 0:50
  all,
• 0:50
  we
• 0:51
  all
• 0:51
  worked
• 0:51
  together
• 0:51
  at
• 0:51
  Target
• 0:52
  for
• 0:52
  many
• 0:52
  years.
• 0:52
  I'm
• 0:53
  a
• 0:53
  Target
• 0:53
  alum
• 0:53
  and
• 0:54
  so
• 0:54
  I
• 0:54
  spent
• 0:55
  almost
• 0:55
  20
• 0:55
  years
• 0:55
  there
• 0:56
  and
• 0:56
  then
• 0:56
  four
• 0:57
  years
• 0:57
  at
• 0:57
  general
• 0:57
  Mills
• 0:58
  on
• 0:58
  the
• 0:58
  manufacturer
• 0:59
  side.
• 0:59
  And
• 0:59
  now
• 0:59
  I'm
• 0:59
  thrilled
• 1:00
  to
• 1:00
  be
• 1:00
  at
• 1:00
  Coburns.
• 1:01
  And
• 1:01
  so
• 1:01
  we
• 1:01
  are
• 1:01
  a
• 1:02
  private,
• 1:03
  family
• 1:03
  owned
• 1:04
  grocery
• 1:05
  and
• 1:05
  liquor
• 1:05
  retailer.
• 1:06
  We're
• 1:06
  actually,
• 1:08
  you
• 1:08
  know,
• 1:09
  one
• 1:09
  of
• 1:09
  the
• 1:09
  biggest
• 1:10
  independent
• 1:11
  retailers
• 1:11
  in
• 1:11
  the
• 1:12
  US
• 1:12
  So
• 1:13
  we're
• 1:14
  proud
• 1:14
  to
• 1:14
  serve
• 1:15
  the
• 1:15
  states
• 1:15
  of
• 1:15
  Minnesota,
• 1:16
  Wisconsin,
• 1:17
  North
• 1:17
  Dakota,
• 1:18
  South
• 1:18
  Dakota,
• 1:19
  Michigan
• 1:20
  and
• 1:20
  Illinois.
• 1:21
  Oh,
• 1:21
  my
• 1:21
  gosh,
• 1:21
  you
• 1:22
  rattled
• 1:22
  those
• 1:22
  off
• 1:23
  so
• 1:23
  easily.
• 1:23
  Not
• 1:23
  one,
• 1:24
  but
• 1:24
  both
• 1:24
  Dakotas
• 1:25
  have.
• 1:25
  Both
• 1:25
  Dakotas
• 1:26
  I
• 1:26
  would
• 1:26
  forget.
• 1:26
  There's
• 1:27
  a
• 1:27
  lot
• 1:27
  happening
• 1:27
  there.
• 1:27
  So.
• 1:29
  All
• 1:30
  right,
• 1:30
  so
• 1:31
  I've
• 1:32
  known
• 1:32
  you,
• 1:32
  I
• 1:32
  think,
• 1:33
  20
• 1:33
  years.
• 1:34
  20
• 1:34
  years,
• 1:34
  yeah,
• 1:34
  I
• 1:35
  think
• 1:35
  it's
• 1:35
  close
• 1:36
  to
• 1:36
  20
• 1:36
  years,
• 1:36
  if
• 1:36
  not
• 1:37
  exactly.
• 1:37
  But
• 1:38
  so,
• 1:38
  you
• 1:39
  know,
• 1:39
  you've
• 1:39
  had
• 1:39
  a
• 1:40
  very
• 1:40
  distinguished
• 1:41
  career.
• 1:41
  Both
• 1:42
  you
• 1:42
  mentioned
• 1:42
  Target,
• 1:42
  but
• 1:43
  you
• 1:43
  also
• 1:43
  spent
• 1:43
  some
• 1:43
  time
• 1:43
  at
• 1:44
  General
• 1:44
  Mills.
• 1:45
  Now
• 1:46
  you're
• 1:46
  a
• 1:47
  regional
• 1:47
  grocer.
• 1:48
  What's
• 1:48
  the
• 1:48
  transition
• 1:49
  been
• 1:49
  like
• 1:49
  for
• 1:49
  you?
• 1:50
  Yeah,
• 1:50
  no,
• 1:51
  it's
• 1:51
  a
• 1:51
  great
• 1:51
  question.
• 1:51
  And
• 1:52
  you
• 1:52
  know,
• 1:52
  first
• 1:52
  of
• 1:52
  all,
• 1:52
  one,
• 1:53
  what
• 1:53
  drew
• 1:53
  me
• 1:53
  to
• 1:53
  take
• 1:54
  this
• 1:54
  opportunity
• 1:55
  was
• 1:55
  just
• 1:55
  how
• 1:55
  great
• 1:56
  our
• 1:56
  team
• 1:56
  is.
• 1:57
  And
• 1:57
  I
• 1:58
  know
• 1:58
  many
• 1:58
  of
• 1:58
  your
• 1:58
  listeners
• 1:59
  maybe
• 1:59
  haven't
• 1:59
  been
• 1:59
  in
• 1:59
  one
• 1:59
  of
• 2:00
  our
• 2:00
  stores,
• 2:00
  but
• 2:01
  I'll
• 2:01
  tell
• 2:01
  you,
• 2:01
  when
• 2:01
  I
• 2:01
  do
• 2:02
  meet
• 2:02
  people
• 2:02
  who
• 2:02
  shop
• 2:03
  our
• 2:03
  stores,
• 2:03
  the
• 2:03
  one
• 2:03
  thing
• 2:04
  they
• 2:04
  talk
• 2:04
  about
• 2:04
  is
• 2:05
  really
• 2:05
  our
• 2:05
  people.
• 2:06
  I
• 2:06
  love
• 2:06
  your
• 2:06
  people,
• 2:07
  I
• 2:07
  love
• 2:07
  your
• 2:07
  service.
• 2:08
  And
• 2:08
  so
• 2:09
  that
• 2:09
  really,
• 2:09
  really
• 2:10
  drew
• 2:10
  me
• 2:11
  to
• 2:11
  the
• 2:11
  organization.
• 2:12
  It's
• 2:12
  something
• 2:12
  that
• 2:12
  really
• 2:13
  is
• 2:13
  our
• 2:13
  foundation
• 2:13
  that
• 2:14
  we're
• 2:14
  trying
• 2:14
  to
• 2:14
  build
• 2:14
  on.
• 2:15
  One
• 2:15
  of
• 2:15
  the
• 2:16
  things
• 2:16
  that
• 2:16
  got
• 2:16
  me
• 2:16
  really
• 2:16
  excited
• 2:17
  is
• 2:17
  I
• 2:17
  do
• 2:17
  think
• 2:17
  there's
• 2:18
  a
• 2:18
  lot
• 2:18
  of
• 2:18
  room
• 2:18
  to
• 2:18
  innovate
• 2:19
  in
• 2:19
  grocery.
• 2:19
  And
• 2:20
  we're
• 2:20
  working
• 2:21
  hard
• 2:21
  to
• 2:21
  try
• 2:21
  to
• 2:21
  differentiate
• 2:22
  our
• 2:22
  strategy.
• 2:23
  We
• 2:23
  gotta
• 2:24
  be
• 2:24
  better
• 2:24
  than
• 2:24
  we
• 2:24
  were
• 2:24
  yesterday
• 2:25
  every
• 2:26
  single
• 2:26
  day.
• 2:26
  And
• 2:27
  that's
• 2:27
  what
• 2:27
  I
• 2:27
  love
• 2:27
  about
• 2:27
  the
• 2:28
  grocery
• 2:28
  business,
• 2:28
  is
• 2:29
  we
• 2:29
  have
• 2:30
  to
• 2:30
  get
• 2:30
  better
• 2:30
  every
• 2:31
  single
• 2:31
  day.
• 2:31
  I
• 2:32
  love
• 2:32
  the
• 2:32
  challenge
• 2:32
  of
• 2:33
  that.
• 2:33
  And
• 2:33
  I
• 2:33
  think
• 2:33
  we
• 2:33
  got
• 2:33
  a
• 2:33
  team
• 2:34
  who
• 2:34
  can
• 2:34
  do
• 2:34
  that.
• 2:35
  Well,
• 2:35
  David,
• 2:36
  grocery
• 2:37
  margins,
• 2:38
  we
• 2:38
  all
• 2:38
  know
• 2:38
  they're
• 2:39
  incredibly
• 2:39
  thin.
• 2:40
  You
• 2:40
  work
• 2:40
  for
• 2:40
  a
• 2:41
  regional
• 2:41
  grocer.
• 2:42
  What
• 2:43
  are
• 2:43
  ways
• 2:43
  that
• 2:44
  you're
• 2:44
  really
• 2:44
  trying
• 2:45
  to
• 2:45
  capture
• 2:45
  that
• 2:46
  new
• 2:46
  customer?
• 2:47
  Increase
• 2:47
  basket
• 2:48
  size,
• 2:48
  increase
• 2:49
  revenue?
• 2:50
  That
• 2:50
  help
• 2:51
  you
• 2:51
  stand
• 2:51
  out
• 2:51
  from
• 2:52
  some
• 2:52
  of
• 2:52
  the
• 2:52
  larger
• 2:53
  competitors
• 2:53
  in
• 2:53
  the
• 2:53
  space?
• 2:54
  Well,
• 2:54
  you
• 2:54
  know,
• 2:54
  a
• 2:54
  couple
• 2:55
  things.
• 2:55
  First
• 2:55
  of
• 2:55
  all,
• 2:55
  you
• 2:56
  know,
• 2:56
  we
• 2:56
  gotta
• 2:56
  differentiate.
• 2:57
  We
• 2:57
  gotta
• 2:57
  make
• 2:57
  sure
• 2:57
  our
• 2:58
  offering
• 2:58
  is
• 2:58
  distinct.
• 2:59
  We
• 2:59
  all
• 2:59
  learned
• 3:00
  that
• 3:00
  at
• 3:00
  Target
• 3:00
  through
• 3:01
  the
• 3:01
  years.
• 3:01
  I'll
• 3:01
  say
• 3:01
  one
• 3:01
  way
• 3:02
  we're
• 3:02
  trying
• 3:02
  to
• 3:02
  differentiate
• 3:03
  is
• 3:03
  through
• 3:03
  taste.
• 3:04
  We
• 3:04
  gotta
• 3:04
  have
• 3:05
  the
• 3:05
  best
• 3:05
  tasting
• 3:06
  product
• 3:06
  out
• 3:06
  there.
• 3:07
  Cause
• 3:07
  you
• 3:07
  know
• 3:07
  what?
• 3:07
  I
• 3:07
  know
• 3:08
  Chris
• 3:08
  Walton
• 3:08
  well.
• 3:08
  And
• 3:09
  I
• 3:09
  know,
• 3:09
  you
• 3:09
  know,
• 3:09
  if
• 3:09
  I
• 3:09
  can
• 3:10
  give
• 3:10
  Chris
• 3:10
  Walton
• 3:10
  something
• 3:11
  that
• 3:11
  tastes
• 3:11
  good,
• 3:12
  I'm
• 3:12
  gonna
• 3:12
  bet
• 3:13
  it's
• 3:13
  a
• 3:13
  good.
• 3:13
  Chance
• 3:13
  I'm
• 3:13
  coming
• 3:14
  back,
• 3:14
  that
• 3:14
  he's
• 3:14
  gonna
• 3:15
  come
• 3:15
  back.
• 3:15
  That's
• 3:15
  what
• 3:15
  I'm
• 3:15
  gonna
• 3:15
  bet
• 3:16
  every
• 3:16
  day.
• 3:16
  For
• 3:17
  the
• 3:17
  next
• 3:17
  seven
• 3:17
  days.
• 3:18
  You
• 3:18
  know,
• 3:19
  we
• 3:19
  make
• 3:20
  some
• 3:20
  65,000
• 3:21
  donuts
• 3:21
  every
• 3:21
  single
• 3:22
  day.
• 3:22
  And
• 3:23
  we've
• 3:23
  not
• 3:23
  changed
• 3:23
  our
• 3:24
  recipe
• 3:24
  in
• 3:25
  I
• 3:25
  think
• 3:26
  like
• 3:26
  35
• 3:26
  years
• 3:27
  because
• 3:27
  we
• 3:27
  have
• 3:28
  a
• 3:28
  recipe
• 3:28
  that
• 3:28
  tastes
• 3:29
  great
• 3:29
  and
• 3:30
  we're
• 3:30
  really
• 3:30
  proud
• 3:30
  of
• 3:30
  that.
• 3:31
  And
• 3:31
  we've
• 3:31
  seen
• 3:31
  our
• 3:31
  guests
• 3:31
  really
• 3:32
  respond
• 3:32
  to
• 3:32
  that.
• 3:33
  So
• 3:33
  for
• 3:33
  us,
• 3:33
  we
• 3:34
  gotta
• 3:34
  make
• 3:34
  sure
• 3:34
  we've
• 3:34
  got
• 3:34
  different
• 3:35
  products
• 3:35
  and
• 3:35
  what
• 3:35
  you
• 3:36
  can
• 3:36
  get
• 3:36
  other
• 3:37
  places.
• 3:37
  And
• 3:38
  because
• 3:38
  we
• 3:38
  sell
• 3:38
  food,
• 3:39
  it's
• 3:39
  gotta
• 3:39
  taste
• 3:40
  good.
• 3:41
  So
• 3:41
  how
• 3:41
  are
• 3:41
  you
• 3:41
  thinking
• 3:42
  about
• 3:42
  the
• 3:42
  further
• 3:43
  evolution
• 3:43
  of
• 3:44
  especially
• 3:44
  food?
• 3:44
  I
• 3:45
  think
• 3:45
  that's
• 3:45
  been
• 3:45
  a
• 3:45
  consistent
• 3:46
  theme
• 3:46
  here.
• 3:46
  Is
• 3:46
  like
• 3:47
  the
• 3:47
  QSR
• 3:48
  style
• 3:48
  food,
• 3:49
  not
• 3:49
  just
• 3:49
  the
• 3:49
  grab
• 3:50
  and
• 3:50
  go
• 3:51
  from
• 3:51
  the
• 3:51
  deli
• 3:51
  and
• 3:51
  expand.
• 3:52
  But
• 3:53
  how
• 3:53
  are
• 3:53
  you
• 3:53
  thinking
• 3:53
  about,
• 3:54
  like
• 3:54
  your
• 3:54
  unique
• 3:55
  Coburn's
• 3:56
  angle
• 3:56
  on
• 3:56
  the
• 3:57
  right,
• 3:57
  like
• 3:58
  food
• 3:58
  that's
• 3:58
  ready
• 3:59
  to
• 3:59
  eat?
• 3:59
  Yeah.
• 3:59
  Our
• 4:00
  fastest
• 4:00
  growing
• 4:00
  categories
• 4:01
  are
• 4:01
  meal
• 4:01
  based
• 4:02
  categories.
• 4:02
  So
• 4:03
  meal
• 4:03
  solutions
• 4:04
  for
• 4:04
  folks.
• 4:04
  We
• 4:04
  sell
• 4:04
  a
• 4:04
  lot
• 4:05
  of
• 4:05
  ready
• 4:05
  to
• 4:05
  heat
• 4:05
  things
• 4:06
  options
• 4:06
  you
• 4:07
  can
• 4:07
  take
• 4:07
  home
• 4:07
  and
• 4:07
  throw
• 4:07
  in
• 4:07
  the
• 4:08
  oven
• 4:08
  and
• 4:08
  it's
• 4:08
  ready
• 4:08
  in
• 4:08
  five
• 4:09
  minutes.
• 4:09
  Or
• 4:09
  things
• 4:10
  that
• 4:10
  you
• 4:11
  take
• 4:11
  out
• 4:11
  of
• 4:11
  the
• 4:11
  deli.
• 4:11
  As
• 4:12
  you
• 4:12
  mentioned,
• 4:12
  we're
• 4:12
  trying
• 4:12
  to
• 4:13
  take
• 4:13
  that
• 4:13
  to
• 4:13
  the
• 4:13
  next
• 4:13
  level.
• 4:14
  Oh,
• 4:14
  really?
• 4:15
  State
• 4:15
  of
• 4:15
  the
• 4:15
  art
• 4:16
  flagship
• 4:16
  store
• 4:17
  that
• 4:17
  will
• 4:17
  soon
• 4:17
  break
• 4:18
  ground.
• 4:18
  And
• 4:19
  you're
• 4:19
  really
• 4:19
  trying
• 4:19
  to
• 4:20
  up
• 4:20
  our
• 4:20
  game.
• 4:20
  Okay.
• 4:21
  And
• 4:21
  really
• 4:21
  make
• 4:21
  sure
• 4:21
  we
• 4:22
  can
• 4:22
  win.
• 4:22
  Not
• 4:23
  just
• 4:23
  those
• 4:23
  food
• 4:24
  to
• 4:24
  take
• 4:24
  home,
• 4:24
  but
• 4:25
  also
• 4:25
  food
• 4:25
  to
• 4:25
  consume
• 4:26
  on
• 4:26
  premises.
• 4:27
  More
• 4:27
  restaurant
• 4:27
  quality
• 4:28
  food,
• 4:28
  you
• 4:29
  know,
• 4:29
  really,
• 4:29
  that's
• 4:29
  the
• 4:29
  direction
• 4:30
  we're
• 4:30
  headed
• 4:30
  because
• 4:30
  that's
• 4:31
  what
• 4:31
  we
• 4:31
  think
• 4:31
  our
• 4:31
  industry
• 4:31
  needs
• 4:32
  to
• 4:32
  do.
• 4:33
  And
• 4:33
  we
• 4:33
  really
• 4:33
  do
• 4:34
  believe
• 4:34
  that,
• 4:34
  not
• 4:35
  just
• 4:35
  for
• 4:35
  us,
• 4:35
  but
• 4:35
  for
• 4:36
  Total
• 4:36
  Grocery.
• 4:36
  We're
• 4:36
  at
• 4:37
  our
• 4:37
  best
• 4:37
  when
• 4:37
  we
• 4:37
  innovate
• 4:38
  and
• 4:38
  we
• 4:38
  find
• 4:39
  new,
• 4:39
  new
• 4:39
  ways
• 4:40
  to
• 4:40
  deliver
• 4:40
  against
• 4:41
  what
• 4:41
  our
• 4:42
  guest
• 4:42
  needs.
• 4:42
  And
• 4:43
  so
• 4:43
  that's
• 4:43
  what
• 4:43
  we're
• 4:43
  trying
• 4:43
  to
• 4:43
  do
• 4:44
  at
• 4:44
  our
• 4:44
  new
• 4:44
  store
• 4:44
  and
• 4:45
  hopefully
• 4:45
  that
• 4:45
  will
• 4:45
  spin
• 4:45
  off
• 4:45
  some
• 4:46
  ideas
• 4:46
  that
• 4:46
  we
• 4:46
  can
• 4:46
  put
• 4:46
  across
• 4:47
  the
• 4:47
  rest
• 4:47
  of
• 4:47
  our
• 4:47
  fleets.
• 4:48
  David,
• 4:48
  where
• 4:49
  is
• 4:49
  that
• 4:49
  new
• 4:49
  store?
• 4:50
  It's
• 4:50
  going
• 4:50
  to
• 4:50
  be
• 4:50
  in
• 4:50
  Plymouth,
• 4:51
  Minnesota,
• 4:51
  which
• 4:52
  is
• 4:52
  a
• 4:52
  suburb
• 4:52
  of
• 4:53
  Minneapolis
• 4:53
  St.
• 4:54
  Paul.
• 4:55
  So
• 4:56
  what
• 4:56
  we
• 4:56
  liked
• 4:57
  about
• 4:57
  Plymouth
• 4:57
  was
• 4:59
  really
• 4:59
  strong
• 5:01
  population,
• 5:02
  really
• 5:02
  strong
• 5:02
  income,
• 5:03
  good
• 5:03
  education
• 5:04
  levels,
• 5:04
  lots
• 5:05
  of
• 5:05
  families,
• 5:05
  lots
• 5:05
  of
• 5:05
  empty
• 5:06
  nesters,
• 5:07
  and
• 5:07
  really
• 5:07
  good
• 5:07
  vehicular
• 5:08
  daytime
• 5:09
  traffic.
• 5:10
  It's
• 5:10
  part
• 5:10
  of
• 5:11
  a
• 5:11
  mixed
• 5:11
  use
• 5:11
  development.
• 5:12
  So
• 5:12
  we're
• 5:12
  gonna
• 5:12
  have
• 5:12
  a
• 5:12
  lot
• 5:12
  of
• 5:13
  morning,
• 5:13
  noon
• 5:14
  and
• 5:14
  night.
• 5:14
  Grocery
• 5:15
  lives
• 5:15
  on
• 5:15
  traffic.
• 5:16
  So
• 5:16
  if
• 5:16
  we
• 5:16
  can
• 5:17
  get
• 5:17
  a
• 5:17
  store
• 5:18
  that
• 5:18
  has
• 5:18
  traffic
• 5:18
  morning,
• 5:19
  noon
• 5:19
  and
• 5:19
  night,
• 5:20
  that
• 5:20
  is
• 5:20
  pretty
• 5:20
  much
• 5:21
  nirvana
• 5:21
  for
• 5:21
  any
• 5:22
  grocer.
• 5:22
  Nice,
• 5:23
  nice.
• 5:23
  And
• 5:23
  take
• 5:24
  us
• 5:24
  as
• 5:24
  much
• 5:24
  as
• 5:24
  you
• 5:24
  can
• 5:25
  inside
• 5:25
  that
• 5:25
  store.
• 5:26
  What's
• 5:26
  going
• 5:26
  to
• 5:26
  be
• 5:26
  different
• 5:27
  about
• 5:27
  it?
• 5:27
  I
• 5:27
  can't
• 5:28
  give
• 5:28
  you
• 5:28
  all
• 5:28
  the
• 5:28
  details,
• 5:29
  but
• 5:29
  I'll
• 5:29
  say
• 5:29
  this,
• 5:29
  you
• 5:30
  know,
• 5:30
  we
• 5:31
  definitely
• 5:31
  want
• 5:31
  to,
• 5:31
  we're
• 5:31
  part
• 5:31
  of
• 5:32
  a
• 5:32
  giant,
• 5:32
  giant
• 5:33
  development.
• 5:33
  There'll
• 5:33
  be
• 5:34
  a
• 5:34
  big
• 5:34
  city
• 5:34
  park
• 5:34
  there.
• 5:34
  We
• 5:35
  want
• 5:35
  to
• 5:35
  make
• 5:35
  sure
• 5:35
  we
• 5:36
  first
• 5:36
  of
• 5:36
  all
• 5:36
  respect
• 5:37
  the
• 5:37
  city
• 5:37
  we're
• 5:37
  in,
• 5:38
  the
• 5:38
  town
• 5:38
  we're
• 5:38
  in,
• 5:38
  the
• 5:39
  environment
• 5:39
  we're
• 5:39
  in.
• 5:39
  We're
• 5:39
  going
• 5:39
  to
• 5:39
  be,
• 5:40
  have
• 5:40
  a,
• 5:40
  have
• 5:41
  a
• 5:41
  big
• 5:41
  recreational
• 5:41
  area
• 5:42
  across
• 5:42
  the
• 5:42
  street.
• 5:42
  We
• 5:43
  want
• 5:43
  to
• 5:43
  make
• 5:43
  sure
• 5:43
  we
• 5:44
  really
• 5:44
  maximize
• 5:45
  that.
• 5:46
  There's
• 5:46
  a
• 5:46
  lot
• 5:46
  of
• 5:46
  housing,
• 5:47
  units
• 5:47
  that
• 5:47
  are
• 5:47
  under
• 5:48
  construction,
• 5:48
  nearby
• 5:49
  apartments.
• 5:49
  There's
• 5:50
  other
• 5:50
  people
• 5:50
  live
• 5:50
  in
• 5:50
  single
• 5:51
  family
• 5:51
  homes.
• 5:51
  And
• 5:52
  so
• 5:52
  we're
• 5:52
  really
• 5:52
  thinking
• 5:52
  hard.
• 5:53
  We
• 5:53
  have
• 5:53
  actually
• 5:53
  talked
• 5:54
  to
• 5:54
  65
• 5:55
  different
• 5:56
  shoppers
• 5:57
  that
• 5:57
  live
• 5:58
  within
• 5:59
  a
• 5:59
  mile
• 5:59
  of
• 5:59
  the
• 6:00
  store
• 6:00
  or
• 6:00
  that
• 6:00
  will
• 6:00
  live
• 6:01
  around
• 6:01
  the
• 6:01
  mile
• 6:01
  of
• 6:02
  store.
• 6:02
  So
• 6:02
  we've
• 6:02
  tried
• 6:02
  to
• 6:02
  really
• 6:03
  do
• 6:03
  our
• 6:03
  homework
• 6:03
  to
• 6:03
  make
• 6:03
  sure
• 6:04
  we
• 6:04
  understand
• 6:04
  what
• 6:05
  are
• 6:05
  the
• 6:05
  unmet
• 6:05
  needs
• 6:06
  and
• 6:06
  how
• 6:06
  do
• 6:06
  we
• 6:07
  design
• 6:07
  an
• 6:07
  offering,
• 6:08
  whether
• 6:08
  it's
• 6:08
  our
• 6:08
  core
• 6:08
  grocery
• 6:09
  store
• 6:09
  offering,
• 6:09
  whether
• 6:10
  it's
• 6:10
  our
• 6:10
  liquor
• 6:10
  offering
• 6:11
  or
• 6:11
  whether
• 6:11
  it's
• 6:12
  in
• 6:12
  the
• 6:12
  meal
• 6:13
  space.
• 6:13
  How
• 6:13
  do
• 6:13
  we
• 6:13
  really
• 6:14
  design
• 6:14
  around
• 6:14
  what
• 6:15
  those
• 6:15
  needs
• 6:15
  are
• 6:16
  and
• 6:16
  work
• 6:16
  our
• 6:17
  tail
• 6:17
  off
• 6:17
  to
• 6:18
  make
• 6:18
  sure
• 6:18
  we
• 6:18
  execute
• 6:18
  them
• 6:19
  at
• 6:19
  the
• 6:20
  absolute
• 6:20
  highest
• 6:20
  level
• 6:21
  we
• 6:21
  can.
• 6:22
  Great
• 6:22
  tasting
• 6:22
  product,
• 6:23
  great
• 6:23
  service,
• 6:24
  great
• 6:24
  experience.
• 6:25
  So
• 6:25
  are
• 6:25
  you
• 6:25
  leaning
• 6:25
  into
• 6:25
  food
• 6:26
  service
• 6:26
  then,
• 6:26
  given
• 6:26
  what
• 6:27
  you
• 6:27
  said
• 6:27
  in
• 6:27
  the
• 6:27
  past?
• 6:27
  Yeah,
• 6:28
  we
• 6:28
  definitely
• 6:28
  need
• 6:28
  to
• 6:28
  win
• 6:29
  more
• 6:29
  of
• 6:29
  those
• 6:29
  occasions.
• 6:30
  I
• 6:30
  think
• 6:30
  grocery
• 6:31
  as
• 6:31
  a
• 6:31
  whole,
• 6:31
  as
• 6:31
  an
• 6:31
  industry,
• 6:32
  you
• 6:32
  know,
• 6:33
  look
• 6:33
  at,
• 6:33
  there's
• 6:33
  so
• 6:33
  many.
• 6:34
  There's
• 6:34
  a
• 6:34
  new
• 6:34
  QSR
• 6:35
  that
• 6:35
  pops
• 6:35
  up
• 6:35
  every
• 6:35
  other
• 6:36
  Day,
• 6:36
  doordash,
• 6:37
  Uber
• 6:37
  Eats
• 6:37
  all
• 6:38
  enable
• 6:39
  all
• 6:39
  these
• 6:39
  restaurants
• 6:40
  to
• 6:40
  crop
• 6:40
  up.
• 6:41
  And
• 6:41
  I
• 6:41
  think
• 6:41
  that's
• 6:41
  a
• 6:41
  great
• 6:42
  thing.
• 6:42
  We
• 6:43
  need
• 6:43
  to
• 6:43
  really
• 6:43
  think
• 6:43
  about
• 6:44
  how
• 6:44
  we
• 6:44
  up
• 6:44
  our
• 6:44
  game
• 6:45
  to
• 6:45
  make
• 6:45
  sure
• 6:45
  we
• 6:45
  can
• 6:46
  get
• 6:46
  a
• 6:46
  piece
• 6:46
  of
• 6:46
  that.
• 6:47
  I
• 6:47
  think
• 6:47
  us
• 6:47
  as
• 6:47
  an
• 6:48
  industry,
• 6:48
  that's
• 6:48
  what
• 6:48
  we
• 6:49
  have
• 6:49
  to
• 6:49
  do
• 6:49
  over
• 6:49
  time.
• 6:50
  Well,
• 6:51
  David,
• 6:52
  when
• 6:52
  you
• 6:52
  think
• 6:52
  about
• 6:53
  technologies
• 6:54
  that
• 6:54
  are
• 6:54
  out
• 6:54
  there
• 6:55
  to
• 6:55
  further
• 6:55
  enhance
• 6:56
  both
• 6:56
  the
• 6:57
  food
• 6:57
  service
• 6:57
  component
• 6:58
  of
• 6:58
  the
• 6:58
  business,
• 6:58
  but
• 6:58
  then
• 6:59
  in
• 6:59
  other
• 6:59
  areas
• 6:59
  of
• 7:00
  the
• 7:00
  store
• 7:00
  and
• 7:01
  especially
• 7:01
  in
• 7:01
  operations,
• 7:02
  given
• 7:02
  your
• 7:02
  role,
• 7:03
  what
• 7:03
  are
• 7:03
  some
• 7:04
  of
• 7:04
  those
• 7:04
  technologies
• 7:04
  that
• 7:05
  kind
• 7:05
  of
• 7:05
  come
• 7:05
  to
• 7:05
  the
• 7:05
  fore
• 7:06
  for
• 7:06
  you
• 7:06
  that
• 7:07
  you're
• 7:08
  looking
• 7:08
  very
• 7:08
  closely
• 7:09
  at
• 7:09
  right
• 7:09
  now?
• 7:09
  Yeah,
• 7:10
  you
• 7:10
  know,
• 7:10
  a
• 7:10
  couple
• 7:11
  of
• 7:11
  things.
• 7:11
  First
• 7:11
  of
• 7:11
  all
• 7:11
  I
• 7:11
  told
• 7:12
  Ann
• 7:12
  yesterday,
• 7:12
  I'm
• 7:12
  like
• 7:13
  this
• 7:13
  is
• 7:13
  actually
• 7:14
  kind
• 7:14
  of,
• 7:14
  it's
• 7:14
  a
• 7:14
  little
• 7:15
  secret.
• 7:15
  This
• 7:15
  is
• 7:15
  one
• 7:15
  of
• 7:15
  the
• 7:16
  things
• 7:16
  I
• 7:16
  really
• 7:16
  love
• 7:17
  at
• 7:17
  working
• 7:18
  at
• 7:18
  a
• 7:18
  smaller
• 7:19
  company.
• 7:19
  I've
• 7:19
  worked
• 7:19
  for
• 7:19
  big
• 7:19
  companies
• 7:20
  in
• 7:20
  the
• 7:20
  past.
• 7:20
  Yeah,
• 7:21
  we're
• 7:21
  still
• 7:21
  a
• 7:21
  bit,
• 7:22
  you
• 7:22
  know,
• 7:22
  we're
• 7:22
  a
• 7:22
  bigger
• 7:22
  independent,
• 7:23
  but
• 7:23
  we're
• 7:23
  a
• 7:24
  couple
• 7:24
  billion
• 7:24
  dollars.
• 7:24
  But
• 7:25
  you
• 7:25
  know,
• 7:25
  we
• 7:26
  do
• 7:26
  have
• 7:26
  to
• 7:26
  rely
• 7:26
  on
• 7:27
  technology
• 7:27
  providers.
• 7:28
  We're
• 7:28
  not
• 7:28
  a
• 7:28
  build
• 7:29
  your
• 7:29
  own
• 7:29
  type
• 7:29
  of
• 7:29
  shop.
• 7:30
  And
• 7:31
  that's
• 7:32
  one
• 7:32
  of
• 7:32
  the
• 7:32
  funnest
• 7:32
  things
• 7:33
  about
• 7:33
  this
• 7:33
  job.
• 7:33
  It's
• 7:34
  about
• 7:34
  really
• 7:34
  going
• 7:35
  and
• 7:35
  finding
• 7:35
  the
• 7:35
  industry
• 7:36
  best
• 7:37
  and
• 7:37
  figuring
• 7:37
  out
• 7:37
  how
• 7:38
  we
• 7:38
  put
• 7:38
  those
• 7:38
  together
• 7:38
  in
• 7:39
  a
• 7:39
  strategy
• 7:39
  and
• 7:39
  a
• 7:39
  roadmap.
• 7:40
  The
• 7:41
  first
• 7:41
  thing
• 7:41
  we
• 7:41
  do
• 7:41
  when
• 7:41
  we
• 7:41
  evaluate
• 7:42
  any
• 7:42
  technology
• 7:43
  is
• 7:43
  the
• 7:43
  guest
• 7:44
  facing
• 7:44
  part
• 7:44
  of
• 7:44
  it.
• 7:45
  So
• 7:45
  the
• 7:45
  first
• 7:45
  thing
• 7:45
  we
• 7:45
  did
• 7:46
  was
• 7:46
  actually
• 7:46
  re
• 7:46
  platform
• 7:47
  our
• 7:47
  e
• 7:47
  commerce
• 7:48
  website
• 7:49
  because
• 7:49
  that
• 7:49
  was
• 7:49
  a
• 7:49
  very
• 7:49
  consumer
• 7:50
  facing
• 7:50
  things.
• 7:50
  We're
• 7:51
  kind
• 7:51
  of
• 7:51
  working
• 7:51
  our
• 7:51
  way
• 7:51
  back
• 7:51
  in
• 7:52
  the
• 7:52
  value
• 7:52
  chain.
• 7:52
  But
• 7:53
  actually
• 7:53
  we've
• 7:53
  had
• 7:53
  some
• 7:54
  really
• 7:54
  good
• 7:54
  conversations
• 7:55
  with
• 7:55
  a
• 7:55
  company
• 7:55
  like
• 7:56
  Symbi
• 7:56
  because
• 7:57
  you
• 7:57
  know,
• 7:57
  one
• 7:57
  thing
• 7:57
  that
• 7:58
  we're
• 7:58
  trying
• 7:58
  to
• 7:58
  do
• 7:59
  is
• 8:00
  we
• 8:00
  have
• 8:00
  stores
• 8:01
  really
• 8:01
  across
• 8:01
  the
• 8:01
  six
• 8:02
  state
• 8:02
  footprint.
• 8:03
  We
• 8:03
  can't
• 8:03
  be
• 8:03
  everywhere
• 8:05
  at
• 8:06
  any
• 8:06
  given
• 8:06
  time.
• 8:06
  And
• 8:07
  so
• 8:07
  one
• 8:07
  of
• 8:07
  the
• 8:07
  things
• 8:07
  that
• 8:08
  their
• 8:08
  technology
• 8:08
  provides
• 8:09
  is
• 8:09
  the
• 8:09
  ability
• 8:10
  to,
• 8:10
  you
• 8:11
  know,
• 8:11
  have
• 8:11
  eyes
• 8:11
  on
• 8:12
  our
• 8:12
  stores
• 8:13
  that
• 8:13
  are
• 8:13
  in
• 8:13
  further
• 8:13
  out
• 8:13
  locations
• 8:14
  to
• 8:14
  make
• 8:14
  sure
• 8:15
  we
• 8:15
  can
• 8:15
  support
• 8:15
  those
• 8:16
  stores
• 8:16
  right
• 8:16
  with
• 8:17
  what
• 8:17
  they
• 8:17
  need
• 8:17
  to
• 8:17
  make
• 8:17
  sure
• 8:17
  we're
• 8:18
  delivering
• 8:18
  a
• 8:18
  great
• 8:18
  experience.
• 8:19
  So
• 8:19
  we're
• 8:19
  going
• 8:19
  to
• 8:19
  look
• 8:19
  at
• 8:20
  all
• 8:20
  sorts
• 8:21
  of
• 8:21
  stuff,
• 8:21
  either
• 8:21
  very,
• 8:22
  very
• 8:22
  functional
• 8:23
  based
• 8:23
  things
• 8:23
  as
• 8:23
  well
• 8:23
  as
• 8:24
  newer
• 8:24
  and
• 8:24
  more
• 8:25
  emerging
• 8:25
  technologies
• 8:26
  that
• 8:26
  we
• 8:26
  can
• 8:26
  use
• 8:26
  to
• 8:27
  serve
• 8:27
  our
• 8:27
  guests
• 8:27
  more
• 8:28
  effectively.
• 8:29
  So
• 8:30
  David,
• 8:30
  you
• 8:30
  just
• 8:30
  finished
• 8:30
  up
• 8:31
  year
• 8:31
  one
• 8:31
  on
• 8:31
  the
• 8:31
  job.
• 8:32
  I'm
• 8:32
  curious
• 8:32
  like
• 8:32
  how
• 8:33
  what
• 8:34
  were
• 8:34
  your
• 8:34
  priorities
• 8:34
  when
• 8:34
  you
• 8:35
  took
• 8:35
  the
• 8:35
  role
• 8:35
  and
• 8:35
  now
• 8:36
  as
• 8:36
  you
• 8:36
  go
• 8:36
  into
• 8:36
  year
• 8:36
  two,
• 8:37
  have
• 8:37
  those
• 8:37
  shifted
• 8:38
  at
• 8:38
  all
• 8:38
  or
• 8:38
  have
• 8:38
  they
• 8:39
  remained
• 8:39
  the
• 8:39
  same?
• 8:39
  Yeah,
• 8:40
  you
• 8:40
  know,
• 8:40
  a
• 8:40
  little
• 8:40
  bit
• 8:40
  of
• 8:40
  build
• 8:41
  on
• 8:41
  I
• 8:41
  would
• 8:41
  say,
• 8:41
  you
• 8:42
  know,
• 8:42
  it's
• 8:42
  kind
• 8:42
  of
• 8:42
  like
• 8:42
  you're
• 8:42
  walking
• 8:43
  up
• 8:43
  the
• 8:43
  steps,
• 8:43
  you
• 8:43
  know.
• 8:44
  So
• 8:44
  step
• 8:45
  one
• 8:45
  was
• 8:45
  first
• 8:45
  of
• 8:45
  all
• 8:45
  one,
• 8:46
  come
• 8:46
  in,
• 8:46
  get
• 8:46
  to
• 8:47
  know
• 8:47
  the
• 8:47
  team.
• 8:47
  As
• 8:47
  I
• 8:47
  said,
• 8:48
  our
• 8:48
  team
• 8:48
  is
• 8:48
  our,
• 8:48
  you
• 8:49
  know,
• 8:49
  one
• 8:49
  of
• 8:50
  our
• 8:50
  secret
• 8:51
  weapons.
• 8:51
  So
• 8:52
  making
• 8:52
  sure
• 8:52
  that
• 8:53
  we
• 8:53
  protected
• 8:53
  our
• 8:53
  very
• 8:54
  strong
• 8:54
  culture,
• 8:54
  that
• 8:55
  we
• 8:55
  nurtured
• 8:55
  that
• 8:55
  culture,
• 8:56
  add
• 8:57
  some
• 8:57
  new
• 8:57
  talent
• 8:58
  to
• 8:58
  that
• 8:58
  group
• 8:59
  of
• 8:59
  folks.
• 8:59
  We've
• 9:00
  got
• 9:00
  a
• 9:00
  great
• 9:00
  team
• 9:00
  in
• 9:01
  place
• 9:01
  that's
• 9:01
  ready
• 9:01
  now
• 9:02
  to
• 9:02
  take
• 9:02
  us
• 9:02
  to
• 9:02
  the
• 9:02
  next
• 9:03
  level.
• 9:03
  And
• 9:03
  we're
• 9:03
  really
• 9:03
  focused
• 9:04
  on
• 9:04
  three
• 9:04
  things.
• 9:05
  First
• 9:05
  of
• 9:05
  all,
• 9:06
  one,
• 9:06
  making
• 9:06
  sure
• 9:06
  we
• 9:06
  get
• 9:07
  as
• 9:07
  much
• 9:07
  as
• 9:07
  we
• 9:07
  can
• 9:07
  out
• 9:08
  of
• 9:08
  our
• 9:08
  core
• 9:08
  grocery
• 9:09
  business.
• 9:09
  Really
• 9:09
  making
• 9:09
  sure
• 9:10
  our
• 9:10
  assortments
• 9:10
  are
• 9:10
  exciting,
• 9:11
  that
• 9:11
  we're
• 9:11
  differentiating,
• 9:12
  that
• 9:12
  we're
• 9:13
  offering
• 9:13
  great
• 9:13
  value
• 9:13
  to
• 9:14
  the
• 9:14
  consumer.
• 9:15
  The
• 9:15
  second
• 9:15
  thing
• 9:15
  is
• 9:16
  really
• 9:16
  finding
• 9:17
  new
• 9:17
  ways
• 9:17
  to
• 9:17
  grow
• 9:18
  through
• 9:18
  building
• 9:19
  new
• 9:19
  stores
• 9:19
  that
• 9:19
  are
• 9:20
  a
• 9:20
  little
• 9:20
  different
• 9:20
  than
• 9:20
  what
• 9:20
  we
• 9:21
  built
• 9:21
  in
• 9:21
  the
• 9:21
  past.
• 9:22
  We'll
• 9:22
  continue
• 9:22
  we
• 9:23
  traditionally
• 9:23
  acquired
• 9:24
  and
• 9:24
  acquired
• 9:25
  other
• 9:25
  smaller
• 9:25
  independents.
• 9:26
  We're
• 9:26
  going
• 9:26
  to
• 9:26
  continue
• 9:27
  to
• 9:27
  do
• 9:27
  that.
• 9:28
  And
• 9:28
  then
• 9:28
  the
• 9:28
  third
• 9:28
  piece
• 9:29
  of
• 9:29
  it
• 9:29
  is
• 9:29
  we're
• 9:29
  actually
• 9:30
  finding
• 9:30
  some
• 9:30
  good
• 9:30
  success
• 9:31
  growing
• 9:31
  our
• 9:31
  non
• 9:32
  food
• 9:32
  business.
• 9:32
  We
• 9:32
  have
• 9:33
  a
• 9:33
  very
• 9:33
  large
• 9:33
  liquor
• 9:33
  business.
• 9:34
  We're
• 9:34
  actually
• 9:34
  the
• 9:34
  biggest
• 9:35
  seller
• 9:35
  of
• 9:35
  liquor
• 9:35
  in
• 9:35
  the
• 9:35
  upper
• 9:36
  Midwest.
• 9:36
  We
• 9:37
  see
• 9:37
  a
• 9:37
  big
• 9:37
  opportunity
• 9:38
  to
• 9:38
  grow
• 9:38
  that
• 9:38
  business
• 9:39
  and
• 9:39
  offer
• 9:40
  more
• 9:40
  points
• 9:40
  of
• 9:40
  difference
• 9:41
  there
• 9:41
  along
• 9:41
  with
• 9:41
  some
• 9:41
  other
• 9:42
  kind
• 9:42
  of
• 9:42
  complementary
• 9:43
  categories.
• 9:43
  Like
• 9:44
  what
• 9:44
  are
• 9:44
  those
• 9:44
  categories,
• 9:45
  David?
• 9:45
  Well,
• 9:45
  you
• 9:45
  know,
• 9:45
  we've
• 9:46
  actually
• 9:46
  tried
• 9:46
  to,
• 9:47
  you
• 9:47
  know,
• 9:47
  pet
• 9:47
  is
• 9:48
  an
• 9:48
  emerging
• 9:48
  business.
• 9:48
  I'm
• 9:49
  sure
• 9:49
  you've
• 9:49
  had
• 9:49
  people
• 9:49
  on
• 9:50
  your
• 9:50
  podcast
• 9:50
  talking
• 9:50
  about
• 9:51
  the
• 9:51
  pet
• 9:51
  business.
• 9:52
  It
• 9:52
  just
• 9:52
  that
• 9:52
  sucker
• 9:53
  won't
• 9:53
  slow
• 9:53
  down.
• 9:53
  Yeah,
• 9:54
  right.
• 9:54
  Yeah.
• 9:55
  The
• 9:55
  recession
• 9:55
  proof
• 9:56
  business
• 9:56
  of
• 9:56
  all
• 9:56
  time.
• 9:57
  Pets
• 9:57
  are
• 9:57
  eating
• 9:58
  better
• 9:58
  than
• 9:58
  humans
• 9:58
  nowadays
• 9:59
  in
• 9:59
  some
• 9:59
  cases.
• 10:00
  And
• 10:00
  so
• 10:00
  you
• 10:00
  know,
• 10:01
  of
• 10:01
  course
• 10:01
  many
• 10:01
  of
• 10:01
  the
• 10:01
  brands
• 10:01
  that
• 10:02
  will
• 10:02
  sell
• 10:02
  to
• 10:02
  a
• 10:02
  grocery
• 10:03
  store
• 10:03
  are,
• 10:04
  you
• 10:04
  know,
• 10:04
  are
• 10:05
  a
• 10:05
  specific
• 10:05
  set
• 10:06
  of
• 10:06
  brands
• 10:06
  and
• 10:06
  they're
• 10:06
  not
• 10:06
  the
• 10:07
  brand
• 10:07
  always
• 10:07
  the
• 10:07
  brands
• 10:08
  where
• 10:09
  that
• 10:09
  are
• 10:09
  that
• 10:09
  our
• 10:09
  guests
• 10:10
  are
• 10:10
  seeking
• 10:11
  out.
• 10:11
  So
• 10:11
  as
• 10:12
  an
• 10:12
  example
• 10:12
  is
• 10:13
  we're
• 10:13
  testing
• 10:13
  a
• 10:13
  franchise
• 10:14
  pet
• 10:14
  concept
• 10:15
  called
• 10:15
  Pet
• 10:15
  Supplies
• 10:16
  plus
• 10:16
  they're
• 10:16
  an
• 10:16
  operator
• 10:17
  franchise
• 10:17
  that
• 10:18
  concept.
• 10:18
  It's
• 10:18
  a
• 10:19
  small
• 10:19
  format
• 10:19
  pet
• 10:19
  store
• 10:20
  and
• 10:20
  our
• 10:21
  thought
• 10:21
  is
• 10:21
  that
• 10:21
  we
• 10:21
  could
• 10:22
  potentially
• 10:22
  locate
• 10:23
  these
• 10:23
  adjacent
• 10:23
  to
• 10:24
  our
• 10:24
  grocery
• 10:25
  stores
• 10:25
  and
• 10:26
  that
• 10:26
  would
• 10:26
  give
• 10:26
  us
• 10:26
  one
• 10:27
  a
• 10:27
  couple
• 10:27
  of
• 10:27
  things.
• 10:27
  One,
• 10:28
  it
• 10:28
  would
• 10:28
  give
• 10:28
  us
• 10:28
  a
• 10:28
  new
• 10:28
  profitable
• 10:29
  business.
• 10:30
  And
• 10:30
  the
• 10:30
  second
• 10:31
  thing
• 10:31
  is
• 10:31
  that
• 10:31
  it
• 10:32
  would
• 10:32
  help
• 10:32
  bring
• 10:32
  new
• 10:32
  guests
• 10:33
  into
• 10:33
  our
• 10:33
  grocery
• 10:34
  stores,
• 10:34
  you
• 10:35
  know,
• 10:35
  when
• 10:35
  they
• 10:35
  are
• 10:35
  getting
• 10:35
  their
• 10:36
  pet
• 10:36
  needs
• 10:36
  taken
• 10:37
  care
• 10:37
  of.
• 10:37
  So
• 10:37
  we're
• 10:37
  testing
• 10:38
  that
• 10:38
  right
• 10:38
  now
• 10:38
  in
• 10:38
  a
• 10:39
  location.
• 10:39
  We're
• 10:40
  encouraged
• 10:40
  by
• 10:40
  the
• 10:41
  early
• 10:41
  results,
• 10:41
  but
• 10:41
  we're
• 10:41
  going
• 10:42
  to
• 10:42
  continue
• 10:42
  to
• 10:42
  get
• 10:42
  scrappy
• 10:43
  and
• 10:43
  look
• 10:43
  for
• 10:43
  opportunities
• 10:44
  is
• 10:44
  to
• 10:44
  say
• 10:45
  how
• 10:45
  can
• 10:45
  we
• 10:45
  serve
• 10:45
  our
• 10:45
  guests
• 10:46
  new
• 10:46
  ways?
• 10:47
  Right.
• 10:47
  And
• 10:47
  you're
• 10:47
  looking
• 10:48
  at
• 10:48
  home
• 10:48
  improvement
• 10:48
  too,
• 10:48
  if
• 10:48
  I'm
• 10:49
  not
• 10:49
  mistaken.
• 10:49
  Right.
• 10:50
  Yeah.
• 10:50
  We
• 10:50
  own
• 10:50
  a
• 10:50
  number
• 10:50
  of
• 10:51
  Ace
• 10:51
  hardware
• 10:51
  stores
• 10:52
  franchise.
• 10:52
  That's
• 10:52
  a
• 10:52
  real
• 10:53
  good
• 10:53
  business.
• 10:53
  It's
• 10:53
  been,
• 10:54
  you
• 10:54
  know,
• 10:55
  if
• 10:55
  you,
• 10:55
  if
• 10:55
  you
• 10:55
  follow
• 10:55
  Ace's
• 10:56
  results,
• 10:56
  they've
• 10:56
  actually
• 10:57
  been
• 10:57
  one
• 10:57
  of
• 10:57
  the
• 10:57
  better
• 10:58
  performers
• 10:59
  in
• 10:59
  the
• 10:59
  home
• 10:59
  improvement
• 11:00
  space.
• 11:00
  Again,
• 11:00
  we
• 11:00
  find
• 11:01
  that
• 11:01
  if
• 11:01
  a
• 11:01
  town
• 11:02
  needs
• 11:02
  a
• 11:02
  hardware
• 11:02
  store,
• 11:04
  it's
• 11:04
  a
• 11:04
  great
• 11:04
  complimentary
• 11:05
  business
• 11:05
  for
• 11:06
  us
• 11:06
  and
• 11:06
  brings
• 11:07
  people
• 11:07
  into
• 11:07
  the
• 11:07
  grocery
• 11:08
  store
• 11:08
  as
• 11:09
  well
• 11:09
  as
• 11:09
  a
• 11:09
  good
• 11:10
  business
• 11:10
  on
• 11:10
  its
• 11:10
  own.
• 11:11
  Right.
• 11:12
  So
• 11:12
  as
• 11:12
  you
• 11:12
  look
• 11:12
  to
• 11:12
  close
• 11:12
  out
• 11:13
  the
• 11:13
  year.
• 11:13
  What,
• 11:13
  what.
• 11:13
  How
• 11:14
  are
• 11:14
  you
• 11:14
  going
• 11:14
  to
• 11:14
  define
• 11:14
  success?
• 11:14
  What
• 11:15
  does
• 11:15
  success
• 11:15
  look
• 11:15
  like
• 11:15
  for
• 11:16
  you
• 11:16
  in
• 11:16
  year
• 11:16
  two?
• 11:16
  Well,
• 11:17
  I
• 11:17
  think
• 11:17
  continuing
• 11:17
  to
• 11:17
  see
• 11:18
  our.
• 11:18
  Which
• 11:19
  they
• 11:19
  are,
• 11:19
  you
• 11:19
  know,
• 11:19
  continuing
• 11:20
  to
• 11:20
  see
• 11:20
  our
• 11:20
  same
• 11:21
  store
• 11:21
  sales
• 11:21
  continue
• 11:22
  to
• 11:22
  grow
• 11:22
  and
• 11:22
  our.
• 11:23
  That's
• 11:23
  great.
• 11:23
  Congrats
• 11:24
  there.
• 11:24
  Yeah,
• 11:25
  you
• 11:25
  know,
• 11:25
  that's
• 11:25
  priority
• 11:26
  one.
• 11:27
  Priority
• 11:27
  two
• 11:27
  is
• 11:27
  really
• 11:28
  making
• 11:28
  sure
• 11:28
  we
• 11:28
  continue.
• 11:29
  We're
• 11:29
  certified
• 11:29
  best
• 11:30
  place
• 11:30
  to
• 11:30
  work.
• 11:30
  That
• 11:30
  we
• 11:31
  continue
• 11:31
  to
• 11:31
  be
• 11:31
  a
• 11:32
  employer
• 11:33
  of
• 11:33
  choice
• 11:34
  for
• 11:34
  our,
• 11:34
  for
• 11:34
  our
• 11:34
  team
• 11:34
  members.
• 11:35
  That's
• 11:35
  something
• 11:36
  we
• 11:36
  take
• 11:36
  very
• 11:36
  seriously.
• 11:37
  And
• 11:37
  three
• 11:38
  is
• 11:38
  that
• 11:38
  we
• 11:38
  continue
• 11:39
  to
• 11:39
  push
• 11:39
  the
• 11:39
  bounds
• 11:40
  of
• 11:40
  delivering
• 11:41
  new
• 11:41
  programs,
• 11:41
  new
• 11:41
  ideas,
• 11:42
  new
• 11:43
  flavors
• 11:43
  of
• 11:43
  donuts,
• 11:44
  new
• 11:44
  flavors
• 11:44
  of
• 11:45
  sandwich,
• 11:46
  new
• 11:46
  all
• 11:47
  sorts
• 11:47
  of
• 11:47
  new
• 11:47
  offers.
• 11:47
  I
• 11:48
  don't
• 11:48
  know
• 11:48
  if
• 11:48
  you're
• 11:48
  65,000
• 11:49
  donuts.
• 11:50
  I
• 11:50
  don't
• 11:50
  know
• 11:50
  if
• 11:50
  you
• 11:50
  need
• 11:51
  to
• 11:51
  change
• 11:51
  that
• 11:51
  one.
• 11:51
  You
• 11:51
  will
• 11:52
  find
• 11:52
  a
• 11:52
  way
• 11:52
  to
• 11:52
  sell
• 11:53
  more.
• 11:53
  You
• 11:53
  can
• 11:54
  always
• 11:54
  sell
• 11:55
  more.
• 11:55
  I'm
• 11:55
  coming
• 11:56
  to
• 11:56
  you
• 11:56
  for
• 11:56
  this.
• 11:56
  Always
• 11:57
  sell
• 11:57
  more.
• 12:00
  Well,
• 12:01
  we'll
• 12:01
  have
• 12:01
  to
• 12:01
  check
• 12:01
  out
• 12:01
  that
• 12:01
  new
• 12:02
  store
• 12:02
  too,
• 12:02
  when
• 12:03
  it
• 12:03
  opens.
• 12:03
  Absolutely.
• 12:04
  When
• 12:04
  does
• 12:04
  it
• 12:04
  open
• 12:04
  roughly?
• 12:05
  You
• 12:05
  know,
• 12:05
  we're
• 12:05
  going
• 12:05
  to.
• 12:05
  We're
• 12:06
  looking
• 12:06
  at
• 12:06
  either
• 12:06
  late
• 12:06
  25
• 12:07
  or
• 12:07
  early
• 12:07
  26
• 12:08
  opening.
• 12:08
  We
• 12:08
  haven't,
• 12:09
  we
• 12:09
  haven't
• 12:09
  pinpointed
• 12:10
  exactly,
• 12:10
  but
• 12:11
  we
• 12:11
  want
• 12:11
  to
• 12:11
  get
• 12:11
  it
• 12:11
  right.
• 12:12
  But
• 12:12
  we'd
• 12:12
  love
• 12:12
  to
• 12:12
  have
• 12:12
  you
• 12:12
  out.
• 12:13
  Yeah,
• 12:13
  love
• 12:13
  to
• 12:13
  see
• 12:13
  you
• 12:14
  there.
• 12:14
  Well,
• 12:15
  David,
• 12:15
  thank
• 12:15
  you
• 12:16
  so
• 12:16
  much.
• 12:16
  We
• 12:16
  really
• 12:17
  appreciate
• 12:17
  you
• 12:17
  taking
• 12:17
  the
• 12:18
  time
• 12:18
  with
• 12:18
  us.
• 12:19
  Thank
• 12:19
  you
• 12:19
  again
• 12:19
  to
• 12:20
  all
• 12:20
  of
• 12:20
  you
• 12:20
  who
• 12:21
  followed
• 12:21
  us
• 12:21
  along
• 12:21
  on
• 12:22
  this
• 12:22
  journey
• 12:22
  of
• 12:23
  several
• 12:23
  interviews
• 12:23
  over
• 12:24
  the
• 12:24
  course
• 12:24
  of
• 12:24
  the
• 12:24
  last
• 12:25
  48
• 12:25
  hours.
• 12:26
  And
• 12:26
  thanks
• 12:27
  again
• 12:27
  to
• 12:27
  Simbi
• 12:28
  for
• 12:28
  hosting
• 12:28
  us
• 12:28
  here
• 12:29
  and
• 12:29
  for
• 12:29
  their
• 12:30
  support
• 12:30
  of
• 12:30
  all
• 12:30
  of
• 12:30
  the
• 12:31
  content
• 12:31
  that
• 12:31
  we
• 12:31
  brought
• 12:32
  you
• 12:33
  here
• 12:33
  at
• 12:33
  fmi.
• 12:34
  So
• 12:34
  until
• 12:35
  the
• 12:35
  next
• 12:36
  conference,
• 12:36
  Chris,
• 12:37
  be
• 12:37
  careful
• 12:38
  out
• 12:38
  there.