David Rosenthal: belief

Transcript context

…And they have a lot of square feet. Let me look at this graph. In 1998, they had $600 a foot, and now they're at $1800 a foot, so meaningfully grown it. It's important to point out, you'd made the comment about Apple, Costco's margins are a lot lower than Apple. They're generating a huge amount of revenue dollars, not so much on the margin dollars, but as we've been talking about, that's the point. Yup. The individual warehouses these days, you may have the stats exactly, but I think an average Costco warehouse generates over $200 million in revenue, and the top ones generate three $400 million of revenue for a single store. Single Costcos could be scaled public companies on their own. Yeah, $269 million of sales per store on average per year. Nuts. Just for fun, let's go north of $1800 just to see who else is out there. Tiffany is $3000, so within spitting distance. It's only 2X, or it's less than 2X, and they sell diamonds.…

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