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S4 E8: Takeaways from Commerce Summit/Temu’s Dirty Secrets/Bullshit Awards
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How to Be a Successful Brick and Mortar Business
The business has been around for 100 years, so it's an old business. If you get this, I'll be shocked. Who is the customer? Good question. Not like only moms, but I bet it's more dads than moms. Do they sell something that you can eat? Yes, but that is a very small part of their sales. The company did 9.2 billion in revenue in 2022. It had a net income of $340 million or just 4% of revenue. Three million of that revenue came from gift card breakage.
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