A Quote by Doug McMillon
Purchasing items made in the U.S. for our stores here or Canadian goods for our stores in Canada makes good business sense because it allows us to ensure greater customer relevance and reduce delivery times.
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I don't think it ever does any harm in any business to feel that there is someone there who cares about it. If you look at any business, fashion being the most obvious, the aura, or the reality of the designer, is part of what creates it. It's true in luxury goods stores and in good food stores. It leaves a palpable sense that someone cares.
Big box just wasn't our strength. We are a men's and boy's specialty store focused on providing high quality clothing with custom tailoring. Our customer is king. When we had seven stores, communication between the stores and with our customers became more disconnected. We started to lose that great family 'camaraderie' that is essentially the key to our success.
We rent one in three tuxedos in the U.S. and Canada, and if we make a mistake, our employees will deliver to the customer's home, office, or wedding. We get a couple hundred letters a week praising the service in our stores.
Radio Shack is meeting the fate of many other stores that were wildly popular in the twentieth century, including record stores, comic book stores, bookstores and video stores.
I invite you all to visit our new Harold Square or Space 98 stores in New York. I think you'll agree with me that these stores have a distinct Urban Outfitters personality, with fresh, exciting product and an experience that resonates with the 18 to 28 year old urban-dwelling customer.
I'd still say that visiting the stores and listening to our folks was one of the most valuable uses of my time as an executive. But really, our best ideas usually do come from the folks in the stores. Period.
In 1974, we began franchising. We didn't have any big thought process except that, 'OK, franchising will help us get to our goal of 32 stores and help us run stores farther away from home.'
Small business is the gateway to opportunity for those who want a piece of the American dream... Well, wouldn't it be nice to hear a little more about the forgotten heroes of America - those who create most of our new jobs, like the owners of stores down the street; the faithfuls who support our churches, synagogues, schools, and communities; the brave men and women everywhere who produce our goods, feed a hungry world, and keep our families warm while they invest in the future to build a better America? That's where miracles are made, not in Washington, D.C.
An underpaid man is a customer reduced in purchasing power. He cannot buy. Business depression is caused by weakened purchasing power. Purchasing power is weakened by uncertainty or insufficiency of income. The cure of business depression is through purchasing power, and the source of purchasing power is wages.
People who buy my records don't go into music stores - music stores which are fading before our very eyes.
Mom & pop stores are not about something small; they are about something big. Ninety percent of all U.S. businesses are family owned or controlled. They are important not only for the food, drink, clothing, and tools they sell us, but also for providing us with intellectual stimulation, social interaction, and connection to our communities. We must have mom & pop stores because we are social animals. We crave to be part of the marketplace.
Walmart has stores in almost every city in North America. When they go to same-day delivery, they don't have to build warehouses across North America like Amazon has to do. It is so much cheaper for Walmart to use existing stores as distribution centers.
We are very far from our potential, but you aren't going to see 500 stores; that wouldn't be consistent with the exclusivity of our brand. You also aren't going to see a Loro Piana perfume, glasses, or watches, because we are concentrating on our core business.
We hope that our associates over time can do more delivery from their way home from stores. We keep trying to figure that out given the realities and the rules associated with that.
Record stores are the backbone of the recorded music culture. It's where we go to network, browse around, and find new songs to love. The stores whose staff live for music have spread the word about exciting new things faster and with more essence than either radio or the press. Any artist that doesn't support the wonderful ma and pa record stores across America is contributing to our own extinction.
Our goal is to be able to serve our future customers. To do that, we need to build a strong and capable e-commerce business - but also to strengthen what we're doing in stores.
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