There’s lots of strain, rightfully so, that this firm ought to improve because we’re in a good retail sector, we’ve a great brand, we now have an impressive stability sheet. It provides the best barrier to entry for a pure play e-commerce firm to try to come in and take market share. No. 1, the sheer nature of what we sell is huge, bulky and onerous and expensive to ship. No. 2, plenty of the merchandise we promote have a real-time need.
When you mix us and our competitor’s income from last yr, it’s about $200 billion, which suggests there’s so much on the market that neither certainly one of us has. When you could have a competitor, and the competitor is outperforming you in a big way, it’s not too exhausting to convince yourself there’s one thing totally different between the two firms.
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