Today, we still have more than 300,000 U.S. associates who were with us since 2015 and are now leading teams, running stores and clubs, and continuing to grow their careers. Their stories are a reminder that when people are given opportunity, they make the most of it - and a culture of opportunity creates a cycle where happy associates lead to happy customers and members, and vice versa.

I bet you that over time, because we come up with new ideas to grow sales, we end up with about the same number of people making more money.

Businesses grow and they don't change enough and they decline over time. Retailers do that on a bit of a faster cycle.

Retailers grow and die. I've been doing this almost 30 years now, which is amazing to me because I feel like in some ways, we're still just getting started.

I think the environment has become more competitive. That has made Indian industry more concerned with a) its customers, b) the quality of its products, and c) its brand image in the marketplace.

Businesses that grow by development and improvement do not die. But when a business ceases to be creative, when it believes it has reached perfection and needs to do nothing but produce no improvement, no development, it is done.