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Tren Griffin @trengriffin
, 3 tweets, 1 min read Read on Twitter
"Grocery is among the thinnest margins out there in retail. The average grocer probably gets a 2-, 2.5-, to 3% operating margin." google.com/amp/s/www.cnbc… But the revenue per hour (RPH) is very high, so grocers have that goin' for them, which is nice! "Big hitter the grocer."
I was lucky to run into Jim Sinegal recently in a restaurant recently and to ask him questions like what it was like to have Charlie Munger in his board. It is Munger's favorite company after Berkshire. google.com/amp/s/25iq.com…
In 2001, the year the Internet bubble popped, Jim Sinegal met Jeff Bezos in a Starbucks in Bellevue, Washington and told the Amazon CEO about the Costco business model. "Sinegal explained the Costco model to Bezos: it was all about customer loyalty." The Everything Store.
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