David Rosenthal: belief

Transcript context

…Really? A big part of my childhood. Part of the enormous diaspora of retailers that come out of not only FedMart but Price Club, Jim Sinegal, I think, was probably locked up at FedMart under new management for a while. After that, he would come over and briefly work at Price Club a couple of years later. The best of the best are coming through this place. They decide as they're getting started, that in order to keep the operations really tight and realize the maximum benefit, Ben, of everything you were describing of how these warehouses operate, they're only going to stock about 3000 of the highest volume items that they think most other retailers are going to sell to their customers. At the time, Walmarts and Kmarts had on the order of about 50,000 SKUs, and even FedMart had probably close to that many at the time. Going all the way down to 3000, this is a non consensus move. Totally. But if you're really someone who has businesses and they have small stores, it's not like we need to stock basically everything under the sun. It just needs to be sufficient.…

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