David Rosenthal: belief

Transcript context

…Exactly. The philosophy behind this is the margin should never exceed 10% at the restaurant. They want to use it to attract customers to retain and delight, but they want to make their money on furniture. It’s like David, these hotdog items you’re talking about. They don’t want to lose money. Just like Costco, they’re opposed to loss leaders. I don’t know if it’s as religious, but they are looking to make money on everything they sell. I think it’s equally religious for different reasons. I think Costco was about not insulting your customers. I think at IKEA, it’s Ingvar just his background in being religiously opposed to losing money. He is unbelievably frugal.…

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