Pretty much, Apple and Dell are the only ones in this industry making money. They make it by being WalMart. We make it by innovation.

We're an 'And' company, we're people and tech, we're stores and e-commerce, we're innovation and execution.

If you think that a store e-commerce business is the answer, you end up thinking that a population of less than a million items is enough, and you end up thinking that you don't need an e-commerce marketplace, and you end up thinking other things.

It was always the plan to bring things together, but just like the structure, it needed to be separate for a while for good reasons. We couldn't pick at store level the full Supercenter for a while. It's a lot harder to receive an e-commerce order and pick a toy at Christmas on time than it is to pick the strawberries every day, because you know where they are.

I think we've seen it all. The e-commerce store is the interesting one.

I really love retail history. We started our first Supercenter in 1988, prior to that we were operating general merchandise discount stores, and we tried some big hypermarkets copied from Europe and they had failed miserably, but we tried to downsize it and make it a Supercenter and it started working.